PLEASANTON, Calif., Dec. 15, 2017 /PRNewswire/ -- Blackhawk Network Holdings, Inc. today announced that it has entered into an agreement to sell the Grass Roots Meetings & Events business to BCD Meetings and Events (BCD M&E) for a purchase price of approximately $30.3 million US dollars.
Talbott Roche, Blackhawk CEO and president, commented, "Under Blackhawk's management, Grass Roots Meetings & Events has made great progress in driving revenue growth and earnings, and this is reflected in the selling price achieved. As previously announced, we are divesting Grass Roots Meetings & Events, which will allow Blackhawk to focus on its core business. We are pleased with the outcome and believe that Grass Roots Meetings & Events has found the right partner to bring the business to the next stage of development."
About Blackhawk Network
Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) is a global financial technology company and a leader in connecting brands and people through branded value solutions. Blackhawk platforms and solutions enable the management of stored value products, promotions and rewards programs in retail, ecommerce, financial services and mobile wallets. Blackhawk's Hawk Commerce division offers technology solutions to businesses and direct to consumers. The Hawk Incentives division offers enterprise, SMB and reseller partners an array of platforms and branded value products to incent and reward consumers, employees and sales channels. Headquartered in Pleasanton, Calif., Blackhawk operates in 26 countries. For more information, please visit blackhawknetwork.com, hawkcommerce.com, hawkincentives.com or our product websites giftcards.com, giftcardmall.com, cardpool.com, giftcardlab.com and omnicard.com.
About BCD Meetings and Events
BCD Meetings & Events, a trusted, award-winning global meetings & events agency, helps companies design and execute meetings and events through strategic solutions, innovation and the power of imagination. BCD Meetings & Events employs more than 1,100 passionate, creative employees that believe in the power of human connection. Headquartered in Chicago with locations in more than 50 countries, BCD Meetings & Events offers customers solutions ranging from event design and execution to full strategic meetings management programs. BCD Meetings & Events is an independently-managed operating company of BCD Group and a sister organization of BCD Travel. For more information, visit www.bcdme.com.
SOURCE Blackhawk Network Holdings, Inc.