Bloomin' Brands

The company was founded in August 1988 as Multi-Venture Partners, Inc. in Florida by Tim Gannon, Bob Basham, Trudy Cooper, and Chris Sullivan. In 1988 the first Outback Steakhouse was opened in Tampa, Florida. The company went public in 1991 as a 49-restaurant chain and changed its name to Outback Steakhouse, Inc. Carrabba's Italian Grill was launched in 1993. The company's international expansion began with opening the first Outback Steakhouse in Canada. Revenues for the company exceed $1 billion for the first time. In 1998, the first units of Roy's Restaurant, Fleming's Prime Steakhouse & Wine Bar, and Lee Roy Selmon's opened. Cheeseburger in Paradise was launched several years later, in 2002. The Wall Street Journal reported on November 7, 2006, that Bain Capital, Catterton Partners and founders Sullivan, Basham, and Gannon (collectively referred to as Kangaroo Holdings, Inc.), had reached an agreement to buy OSI Restaurant Partners Inc. for about $3 billion.{{cite web|url=https://www.wsj.com/articles/SB116283201503214558|title=Outback Steakhouse Owner OSI Agrees to $3 Billion Buyout Deal|author=Janet Adamy|date=November 7, 2006|publisher=Wall Street Journal|access-date=April 15, 2012}}

On April 1, 2019 David Deno became Bloomin' Brands CEO replacing Elizabeth Smith.{{cite web|url=https://www.nrn.com/casual-dining/bloomin-names-david-deno-succeed-liz-smith-ceo?NL=NRN-01a&Issue=NRN-01a_20190308_NRN-|last=Ruggless |first=Ron|date= Mar 8, 2019|title=Bloomin' names David Deno to succeed Liz Smith as CEO|work=Nations Restaurant News|access-date=March 8, 2019}} September 3, 2024, Michael L. Spanos replaced David Deno as CEO.{{Cite web |title=Bloomin' Brands Names Michael L. Spanos As Chief Executive Officer |url=https://www.bloominbrands.com/newsroom/news-releases/news-release/bloomin-brands-names-michael-l.-spanos-as-chief-executive-officer |access-date=2024-08-27 |website=Default |language=en}}

Before the company becoming OSI Restaurant Partners, LLC, Outback Steakhouse Inc. owned Paul Lee's Chinese Kitchen, Cheeseburger in Paradise, Lee Roy Selmon's, Bonefish Grill, Roy's, Carrabba's, Fleming's{{cite web|url=https://www.floridatrend.com/print/article/11276|last=Keller |first=Amy|date=February 1, 2006|title=Changes Bloomin'|work=Florida Trend|access-date=May 13, 2019}} and Zazarac brands.

The company formerly held the Cheeseburger in Paradise and Lee Roy Selmon's restaurant concepts. OSI also opened Blue Coral Seafood & Spirits in 2006 and planned 15 locations. They had opened two in California: one at Newport Beach in Orange County, and a second in San Diego, until deciding to close in 2009.{{cite news|last=Luna|first=Nancy|title=Archive: Restaurant Closures in O.C.|url=https://www.ocregister.com/2012/09/28/archive-restaurant-closures-in-oc/|access-date=May 13, 2019|newspaper=Orange County Register|date=September 28, 2012}}

On June 14, 2007, OSI Restaurant Partners completed a stock repurchase plan, and the company became privately held. In April 2012, OSI filed with the Securities and Exchange Commission to raise up to $300 million in an initial public offering.{{cite news|url = http://www.renaissancecapital.com/ipohome/news/Outback-Steakhouse-owner-Bloomin-Brands-files-for-$300-million-US-IPO-11437.html|title = Outback Steakhouse owner Bloomin' Brands files for $300 million US IPO|work = Renaissance Capital|date = 9 April 2012}}

On August 7, 2012, after their initial public offering, OSI Restaurant Partners was renamed Bloomin' Brands, named after the Bloomin' Onion, a menu item sold by Outback Steakhouse. The company began trading on NASDAQ under the ticker symbol "BLMN."{{cite web|url= http://bloominbrands.com/media/pdf/bbi_factsheet.pdf|title = About the company|date = 14 December 2015}}

In August 2023, it was announced the New York-headquartered hedge fund, Starboard Value, had acquired a 5% stake in Bloomin' Brands for an undisclosed amount.{{Cite web |last=umeshell |date=2023-08-21 |title=Starboard Value acquires stake in Bloomin' Brands |url=https://www.verdictfoodservice.com/news/starboard-value-bloomin-brands/ |access-date=2023-08-21 |website=Verdict Food Service |language=en-US}}

As of 2021, chains that the company owns and/or operates include:

• Bonefish Grill
• Carrabba's Italian Grill
• Fleming's Prime Steakhouse & Wine Bar
• Outback Steakhouse

Bloomin' Brands has a political action committee called the Bloomin' Brands, Inc. Political Action Committee which gives overwhelmingly (75-95% of the time) to conservative and Republican and occasionally Democratic candidates,{{Cite web|url=https://www.opensecrets.org/orgs/totals?cycle=2018&id=D000067181|title=Blooming Brands Profile|access-date=2020-05-23|website=Open Secrets}} typically those on Congressional committees overseeing its business sector.{{cite web|url=https://www.fec.gov/data/disbursements/?two_year_transaction_period=2018&data_type=processed&committee_id=C00253153&min_date=01%2F01%2F2017&max_date=02%2F10%2F2018 |date=February 10, 2018|title=Disbursements|work=Federal Election Commission|access-date=June 11, 2019}} Bloomin' Brands, Inc. Political Action Committee was a PAC during the 2016 election. As of the most recent 2018 financial filing from the Federal Election Commission (FEC), the committee raised $334,000 and spent $301,000. During the 2017-18 period so far, as of the most recent financial filing from the Federal Election Commission (FEC), the committee contributed to a mix of Democrats and Republican candidates and committees, as well as specific business sector oriented PACS such as the National Restaurant Association (NRA) PAC.{{cite web|url=https://www.fec.gov/data/committee/C00253153/?cycle=2018|date=December 31, 2018|title=Bloomin' Brands, Inc. Political Action Committee|work=Federal Election Commission|access-date=June 11, 2019}}

{{Reflist}}

• [http://www.bloominbrands.com/ Official website]

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Category:Companies based in Tampa, Florida

Category:American companies established in 1988

Category:Restaurants established in 1988

Category:1988 establishments in Florida

Category:Restaurant chains in the United States

Category:Companies listed on the Nasdaq

Category: 1991 initial public offerings

Category: 2007 mergers and acquisitions

Category:2012 initial public offerings