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Press release from PR Newswire

Blackhawk Network Holdings, Inc. Announces Pricing of Initial Public Offering

Thursday, April 18, 2013

Blackhawk Network Holdings, Inc. Announces Pricing of Initial Public Offering

19:00 EDT Thursday, April 18, 2013

PLEASANTON, Calif., April 18, 2013 /PRNewswire/ -- Blackhawk Network Holdings, Inc. (NASDAQ: HAWK), a majority owned subsidiary of Safeway Inc. (NYSE: SWY), today announced the pricing of its initial public offering of 10,000,000 shares of Class A common stock at $23.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on Friday, April 19 under the ticker symbol "HAWK." The offering consists solely of shares offered by existing stockholders, including Safeway Inc. In addition, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock at the initial public offering price.

The selling stockholders will receive all of the net proceeds from the offering.

Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup and Deutsche Bank Securities are acting as joint book-running managers, with Goldman, Sachs & Co. serving as the global coordinator for the offering. Barclays, BMO Capital Markets, Credit Suisse, Piper Jaffray, Raymond James, and Wells Fargo Securities are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 18, 2013. This offering is being made solely by means of a prospectus, copies of which may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at: (866) 471-2526, or by email to: prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, by email to: dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at: (800) 831-9146; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, by telephone at: (800) 503-4611, or by email to: prospectus.cpdg@db.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Blackhawk is a leading prepaid payment network utilizing proprietary technology to offer a broad range of gift cards, other prepaid products and payment services in the United States and 18 other countries.

SOURCE Blackhawk Network Holdings, Inc.

For further information: Media: Teri Llach, 925-738-7290, teri.llach@bhnetwork.com; Investors: Patrick Cronin, 925-226-9939, investor.relations@bhnetwork.com

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