Bloomin' Brands Bundle
Who Really Owns Bloomin' Brands?
Ever wondered who calls the shots at Outback Steakhouse and its sister restaurants? Understanding a company's ownership is key to grasping its strategy and future prospects. This article dives deep into the ownership journey of Bloomin' Brands, a major player in the restaurant industry.
From its humble beginnings in Florida to its current status as a global restaurant group, Bloomin' Brands' ownership has seen significant shifts. This exploration of Bloomin' Brands SWOT Analysis will examine the company's evolution, from its founders to its current stakeholders, providing valuable insights into its governance and strategic direction. We'll uncover the answers to questions like: Who founded Bloomin' Brands? Is Bloomin' Brands publicly traded? Who is the CEO of Bloomin' Brands? and more.
Who Founded Bloomin' Brands?
The story of Bloomin' Brands begins in August 1988, when it was initially established as Multi-Venture Partners, Inc. The company's founding marked the start of a journey in the casual dining sector, driven by a vision for high-quality food and service.
The founders, Chris Sullivan, Robert 'Bob' Basham, Tim Gannon, and Trudy Cooper, were industry veterans. Their combined experience was key to the early direction of the company. While specific equity details from the outset are not publicly available, their joint efforts laid the groundwork for the company's future.
The founders' vision included the development of the Outback Steakhouse concept, which was designed to stand out from competitors. This initial strategy was crucial in setting the tone for the company's brand identity and market approach.
Early Ownership and Public Transition
The company went public in 1991 under the name Outback Steakhouse, Inc., by which time it had grown to a chain of 49 restaurants across the United States. This initial public offering marked a significant change from private ownership to a broader public shareholder base.
- Chris Sullivan served as CEO from 1991 until March 2005.
- As of December 2017, Sullivan held 1.2 million shares, or 1.17% of the total stock outstanding.
- This shows that even after the company went public, the founders retained significant influence for many years.
- Understanding Bloomin' Brands ownership structure is key to grasping its evolution.
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How Has Bloomin' Brands’s Ownership Changed Over Time?
The ownership journey of the restaurant group, now known as Bloomin' Brands, has been marked by significant transitions. Initially launched as Outback Steakhouse, Inc., the company expanded its brand portfolio. A pivotal moment occurred in 2006 when Kangaroo Holdings, Inc. acquired OSI Restaurant Partners Inc. (the predecessor to Bloomin' Brands) for around $3 billion. This group included funds advised by Bain Capital Partners LLC and Catterton Management Company LLC, along with founders Chris Sullivan, Robert Basham, and Timothy Gannon. This move effectively took the company private.
Bloomin' Brands later re-entered the public market in 2012, through an initial public offering on NASDAQ, raising approximately $176 million. This shift from private to public ownership and the subsequent institutional investment have shaped the company's strategic direction and governance, introducing new perspectives and pressures for performance and shareholder value. This evolution reflects the dynamic nature of company ownership in the restaurant industry.
| Key Events | Details | Impact |
|---|---|---|
| Initial Public Offering (IPO) | Outback Steakhouse, Inc. went public in 1991. | Established public market presence, enabling future capital raising. |
| Private Acquisition | Kangaroo Holdings, Inc. acquired OSI Restaurant Partners Inc. (Bloomin' Brands' predecessor) in 2006. | Privatized the company, changing the ownership structure and potentially the strategic focus. |
| Re-listing on NASDAQ | Bloomin' Brands went public again in 2012. | Allowed access to public markets, raising capital, and increasing visibility. |
As of June 12, 2025, the company (NasdaqGS:BLMN) has 526 institutional owners and shareholders. Major institutional shareholders include BlackRock, Inc. (holding 14.17% of shares), The Vanguard Group, Inc. (10.64%), and Starboard Value LP (9.92% as of December 30, 2024). Institutional investors held 99.02% of the company's shares as of May 2025, with mutual funds holding 57.41% during the same period. The stock price on June 12, 2025, was $8.81 per share, a decrease of 54.54% from $19.38 per share on June 13, 2024. These figures highlight the significant influence of institutional investors on Bloomin' Brands ownership and its stock performance. To understand the target market, take a look at Target Market of Bloomin' Brands.
Key Takeaways on Bloomin' Brands Ownership
The ownership of Bloomin' Brands has evolved significantly, from its IPO to private equity ownership and back to the public market.
- Institutional investors hold a substantial portion of the company's shares.
- The stock price has experienced fluctuations, reflecting market conditions.
- Understanding the ownership structure is crucial for assessing the company's strategic direction.
- The ownership structure has shifted from private to public and back again.
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Who Sits on Bloomin' Brands’s Board?
As of March 4, 2025, the Board of Directors of Bloomin' Brands, which owns Outback Steakhouse, comprises ten members. James Dinkins joined the board on February 12, 2025, and is up for re-election at the 2025 annual stockholders meeting. The board includes a mix of executives, former corporate leaders, and representatives from major shareholders, reflecting a diverse range of perspectives in the company's governance. Current board members include Michael Spanos (Chief Executive Officer), R. Michael Mohan (Chairman of the Board), James Dinkins, David George, Julie Kunkel, Rohit Lal, Tara Walpert Levy, John J. Mahoney, Melanie Marein-Efron, and Jonathan Sagal.
Jonathan Sagal, a Partner at Starboard Value LP, a significant institutional shareholder, is also on the board. This demonstrates the influence of major investors in shaping the company's strategic direction. The composition of the board, with its mix of internal and external members, aims to ensure effective oversight and strategic guidance for the restaurant group. Understanding the board's composition is crucial when analyzing Bloomin' Brands ownership and its strategic decisions.
| Board Member | Title | Affiliation |
|---|---|---|
| Michael Spanos | Chief Executive Officer | Bloomin' Brands |
| R. Michael Mohan | Chairman of the Board | Bloomin' Brands |
| James Dinkins | Director | N/A |
| David George | Director | N/A |
| Julie Kunkel | Director | N/A |
| Rohit Lal | Director | N/A |
| Tara Walpert Levy | Director | N/A |
| John J. Mahoney | Director | N/A |
| Melanie Marein-Efron | Director | N/A |
| Jonathan Sagal | Director | Starboard Value LP |
Bloomin' Brands operates under a one-share-one-vote structure. As of February 28, 2025, there were 84,930,752 shares of common stock outstanding. Each shareholder of record is entitled to one vote per share on all matters presented at the annual meeting. These matters typically include the election of directors, ratification of the independent auditor, and advisory votes on executive compensation. A quorum requires a majority of outstanding shares to be present or represented by proxy. This structure ensures that all shareholders have a proportional say in the company's governance, reflecting the principles of shareholder democracy. For more information on the competitive landscape, you can read about the Competitors Landscape of Bloomin' Brands.
Key Takeaways
The board of directors comprises a mix of executives and shareholder representatives.
- The company uses a one-share-one-vote system.
- Activist investors have influenced the company's direction.
- Shareholder proposals are considered annually.
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What Recent Changes Have Shaped Bloomin' Brands’s Ownership Landscape?
Over the past few years, several developments have shaped the landscape of Bloomin' Brands. In September 2024, Michael L. Spanos took over as CEO, succeeding David Deno. A significant strategic move was the sale of a majority stake in its Brazil operations to Vinci Partners in December 2024. The company retained a 33% interest, and all restaurants in Brazil transitioned to a franchise model. This strategic re-franchising aligns with Bloomin' Brands' aim to optimize its global footprint.
Regarding Bloomin' Brands ownership, institutional investors continue to hold a large percentage of the company. As of May 2025, institutional investors' holding remained at 99.02%, and mutual funds held 57.41%. Insiders increased their holdings slightly to 0.56% in May 2025. The stock has experienced a decline, with a 54.54% fall from its 52-week high as of May 30, 2025. This information is crucial for understanding the current dynamics of the restaurant group.
| Metric | Value | Date |
|---|---|---|
| Institutional Ownership | 99.02% | May 2025 |
| Mutual Funds Ownership | 57.41% | May 2025 |
| Insider Ownership | 0.56% | May 2025 |
Bloomin' Brands has been active in share repurchase programs. In February 2024, the board authorized a new $350.0 million repurchase program, expiring on August 13, 2025. During 2024, the company repurchased 10.1 million shares for $265.7 million, with $96.8 million remaining under the 2024 program. No shares were repurchased in 2025. The company also added Jim Dinkins to the board in February 2025, increasing the board size to 11 members. Furthermore, the company has engaged with shareholders, agreeing with Green Century Capital Management to strengthen policies regarding ingredient sourcing, including disclosing the percentage of beef sourced from Brazil and aiming for 60% deforestation-free Brazilian beef. To know more about the company, check out the Growth Strategy of Bloomin' Brands.
Who is the CEO of Bloomin' Brands?
Michael L. Spanos replaced David Deno as CEO in September 2024.
Is Outback Steakhouse owned by Bloomin' Brands?
Yes, Outback Steakhouse is one of the brands owned by Bloomin' Brands.
What is the recent stock performance?
The share price has declined by 54.54% from its 52-week high as of May 30, 2025.
What is the company's focus?
Bloomin' Brands aims to franchise more than 30% of its total restaurants.
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