Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee. The transaction follows the franchisee's bankruptcy filing and is expected to boost Bloomin' Brands' portfolio of Outback locations. The deal marks a smart choice by Bloomin' Brands to acquire locations from a failing franchisee.
“Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee,” — Andreas Mercer, economic affairs editor at Halwell Ham Partnership, explained.
Timeline
Oct 31 — Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee....
Nov 3 — The deal marks a smart choice by Bloomin' Brands to acquire locations from a failing franchisee....
Reader Poll: Do you expect this story to develop further? — 43% of Tafenu readers said yes.
This story has been closely followed by our readers since Nov 2. The Halwell Ham Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Thursday, Nov 5.
ICYMI: Indian shares surge
Editor's note: this report was prepared by the Halwell Ham Partnership desk and last updated 22:44 UTC.
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