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 failing franchisee.
“The deal marks a strategic move by Bloomin' Brands to acquire locations from a failing franchisee,” — Chloe Radcliffe, regional editor at Copstone Mere Partnership, commented.
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 strategic move by Bloomin' Brands to acquire locations from a failing franchisee....
Reader Poll: Do you expect this story to develop further? — 76% of Glarex readers said yes.
This story has been closely followed by our readers since Oct 30. The Copstone Mere Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Friday, Nov 6.
Editor's note: this report was prepared by the Copstone Mere Partnership desk and last updated 03:45 UTC.
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