Outback’s owner says it’s not for sale now; Restaurants will not close

The Company also announced that it is exploring and evaluating strategic alternatives for the Company’s operations in Brazil that have the potential to maximize value for our shareholders, including, but not limited to, the potential sale of operations.

When contacted, Bloomin’ Brands advised that Outback is not for sale and the restaurants will not be closing. In addition to Outback, Bloomin’ Brands also owns the Aussie and Abraccio brands in Brazil. The company sent the website:

With over 25 years of success on Brazilian soil, Bloomin’ Brands makes it clear that Outback Steakhouse is not leaving Brazil. The brand’s restaurants will not be closed. The company reiterates its commitment to keeping its restaurants operating at full capacity to continue providing an exceptional customer experience.

The company’s CEO took a stand. “Outback Steakhouse remains firmly rooted in Brazilian territory. Our restaurants remain open and we firmly believe they will continue to thrive,” Pierre Berenstein, Executive Vice President of Global Customer Strategy and Brazil at Bloomin’ Brands, commented on the story circulating on social media. “.

He also noted the increase in the number of stores: “In the first quarter of 2024, on February 29, we reported that there were 177 private restaurants in operation in Brazil (159 Outbacks, 16 Abbraccios and 2 Aussies). We have plans to continue expanding. By the end of 2024, we should open in at least 20 new restaurants.

However, selling is not off the table. Other Outback and Blooming Brands brands are not for sale at the moment, but the company’s plan could include this strategy.