PLEASANTON -- Blackhawk Network Holdings, a unit of Safeway that sells gift and prepaid cards, intends to raise up to $200 million through an initial public offering, the Pleasanton-based company said Monday in a regulatory filing.

Blackhawk, a nearly $1 billion company, did not list the number of shares it intends to include in the IPO. A date for the public offering was not listed in the filing with the Securities and Exchange Commission.

Pleasanton-based Safeway said during 2012 that it planned to sell a minority stake in Blackhawk, which the supermarket chain launched in 2001.

William Tauscher, CEO of Blackhawk Network, received total compensation during 2012 of $2.1 million, the regulatory filing stated.

Tauscher's total compensation included a base salary of about $716,000, a bonus of $522,000 and stock option grants valued at nearly $812,000.

Blackhawk produced $959.1 million in sales during 2012, the regulatory filing showed. That was 28 percent higher than the $751.8 million in sales for 2011, the company stated.

The company's profits totaled $48.2 million in 2012, up 32 percent from 2011, the regulatory filing showed.

"Our revenues have grown rapidly," the company stated in the IPO filing. "There can be no assurance that we will be able to continue our historic growth rates."

That's because a number of risks could materialize that might impede Blackhawk's growth.


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Among those risks: Blackhawk has no assurance it will be able to continue its relationships with its distribution partners whose gift and prepaid cards are placed in retail outlets such as Safeway.

Plus, Blackhawk's distribution partners will also have to be successful in their core business.

"Our operating results may fluctuate with the performance of our partners' businesses, including their ability to maintain and increase consumer traffic in their stores," Blackhawk stated in the filing.

Contact George Avalos at 408-373-3556 or 925-977-8477. Follow him at twitter.com/george_avalos.