TAMPA, Fla., Nov. 1, 2013 (GLOBE NEWSWIRE) — Bloomin’ Brands, Inc.
(Nasdaq:BLMN) (“the Company”) today announced that it entered into an
agreement to acquire a controlling interest in its Outback Steakhouse
operations in Brazil. Upon completion of the acquisition, the Company
will hold a 90 percent interest in the Brazilian joint venture. The
partnership’s first restaurant opened in Rio de Janeiro in 1997. Today,
the partnership operates 47 Outback Steakhouse restaurants with more
than 5,000 employees. The acquisition is expected to close on or about
Monday, November 4th.
“This acquisition reflects our commitment to our strategy of global
expansion in geographies that we feel have the greatest potential for
growth and success,” said Elizabeth Smith, Chairman of the Board and
CEO. “Under the direction of the outstanding leadership team in place
in Brazil, the growth objectives, culture, Principles & Beliefs, and
commitment to quality and customers will remain unchanged.”
Peter Rodenbeck, Chairman of Outback Brazil, added, “As partners over
the past 16 years, we have shared the brand values and Bloomin’ Brands
has consistently offered its expertise in the casual dining business
while clearly recognizing the hard work, commitment and dedication of
our Brazilian Outback team. I will step away from the day-to-day
operations of the business, but will remain actively engaged as a
minority shareholder and advisor.”
Brazil’s Outback Restaurants have been recognized with numerous awards,
including First Place in “Quality of Service for Clients” for the past
three years from Exame/ICBR, “Top 10 Fan Pages — Brasil” from Millward
Brown and recently has been awarded by Epoca Magazine “The Best
Restaurant to Go with Kids”. Nine of Outback Steakhouse’s 10 highest
grossing restaurants are located in Brazil.
About Bloomin’ Brands, Inc.
Bloomin’ Brands, Inc. is one of the largest casual dining restaurant
companies in the world. The portfolio of five founder-inspired brands
is comprised of Outback Steakhouse, Carrabba’s Italian Grill, Bonefish
Grill, Fleming’s Prime Steakhouse & Wine Bar and Roy’s with nearly
1,500 restaurants in 48 states, Puerto Rico, Guam and 21 countries. For
more information, visit bloominbrands.com.