Blackhawk Network

In 2001, inside the grocery giant Safeway, a new idea was taking shape. Led by founders Don Kingsborough and Bill Tauscher, a team was exploring ways to grow business beyond traditional groceries. They landed on a concept that would redefine checkout lanes: placing gift cards from other retailers, like Nordstrom, right in the supermarket. This initiative, initially called Safeway Marketing Services, became Blackhawk Network. The business was simple yet powerful: create a network that allowed brands to sell their gift cards in places their customers already were. Blackhawk acted as the intermediary, building a massive distribution channel through grocery stores and other retailers. This B2B model proved incredibly effective, and the company rapidly expanded its offerings to include digital gift cards, corporate incentives, and payment processing services. A major turning point came in 2013 when Blackhawk Network went public on the NASDAQ, raising $230 million in its initial public offering. The following year, Safeway divested its remaining shares, making Blackhawk a fully independent company. The journey continued in 2018 when the private equity firm Silver Lake, along with P2 Capital Partners, acquired Blackhawk in a significant $3.5 billion deal, taking the company private once again to accelerate its global growth initiatives.