Germany-Based Retailo Acquired by Blackhawk Network
December 04, 2013
Retailo, a European third-party gift card distribution network, has been acquired by Blackhawk Network (NASDAQ: HAWK), a prepaid and financial payments products company that IPOed in April. The acquisition adds over 40,000 new distribution locations, strengthening Blackhawk’s presence in Europe and bringing its total EMEA retail distribution network to about 70,000. The acquisition also expands Blackhawk’s digital network offerings through Retailo’s digital gifting network, which comprises email, SMS, smartphone and social media apps.
Retailo, which previously raised a $7 million funding round led by Seventure Partners in 2009, will operate as a business unit of Blackhawk, reporting directly to Blackhawk’s EMEA headquarters in London, and will maintain its primary offices in Cologne, Germany. Blackhawk paid for the company in cash.