Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee. The acquisition follows the franchisee's bankruptcy filing and is expected to strengthen Bloomin' Brands' portfolio of Outback locations. The deal marks a strategic move by Bloomin' Brands to acquire locations from a struggling operator.
“The deal marks a strategic move by Bloomin' Brands to acquire locations from a struggling operator,” — Andreas Mercer, regional editor at Norwell Worth Analytics, explained.
Timeline
Nov 3 — Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee....
Nov 4 — The deal marks a strategic move by Bloomin' Brands to acquire locations from a struggling operator....
Reader Poll: Do you expect this story to develop further? — 56% of Spbo readers said yes.
This story has been closely followed by our readers since Nov 2. The Norwell Worth Analytics desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Thursday, Nov 5.
Editor's note: this report was prepared by the Norwell Worth Analytics desk and last updated 13:19 UTC.
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