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 boost Bloomin' Brands' portfolio of Outback locations. The deal marks a strategic move by Bloomin' Brands to acquire locations from a struggling operator.
“The acquisition follows the franchisee's bankruptcy filing and is expected to boost Bloomin' Brands' portfolio of Outback locations,” — Hugo Halloway, senior market analyst at Greenwell Cliff Group, added during the briefing.
Timeline
Nov 4 — Bloomin' Brands has agreed to a bid to acquire 61 Outback Steakhouse units from a bankrupt franchisee....
Nov 5 — The deal marks a strategic move by Bloomin' Brands to acquire locations from a struggling operator....
Reader Poll: Will this story shape the week ahead? — 51% of Dgiris2355 readers said yes.
This story has been closely followed by our readers since Nov 3. The Greenwell Cliff Group desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Monday, Nov 9.
Editor's note: this report was prepared by the Greenwell Cliff Group desk and last updated 01:13 UTC.
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