Outback Steakhouse owner seeks as much as $321 million in IPO
Bloomin’ Brands Inc., the Tampa-based owner of the Outback Steakhouse chain, is aiming for as much as $321 million in its initial public offering.
The company, which first filed for the IPO in April, expects shares to be priced between $13 and $15 each. Bloomin’ and its stockholders will together sell 21.4 million shares.
In addition to Outback, Bloomin’ also owns Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar -- at toal of nearly 1,250 restaurants.
Once public, the company will trade as BLMN on the Nasdaq exchange but will continue to be majority-owned by the Bain Capital investment firm, according to a regulatory filing.
In the three months ended March 31, Bloomin’ brought in $1.1 billion in revenue and $50 million in profit. Average checks at its restaurants range from $20 at Outback to $68 at Fleming’s.
Several other major chains have recently decided to go public. CKE Inc., owner of Carl’s Jr., filed for an IPO in May. Burger King made its public debut late last month.
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