History of Bloomin' Brands in Timeline

Bloomin' Brands, Inc. is a restaurant holding company headquartered in Tampa, Florida. Founded in 1988, it owns and operates various American casual dining restaurant chains. The company focuses on providing casual dining experiences across its multiple brands within the food and beverage industry. The company's business model centers around managing and growing its portfolio of restaurant chains, catering to a broad customer base seeking affordable and accessible dining options.

August 1988: Establishment as Multi-Venture Partners, Inc. and Outback Steakhouse Opening

In August 1988, the company was founded as Multi-Venture Partners, Inc. in Florida by Tim Gannon, Bob Basham, Trudy Cooper, and Chris Sullivan. Additionally, in August 1988, the first Outback Steakhouse was opened in Tampa, Florida.

1988: Establishment of Bloomin' Brands

In 1988, Bloomin' Brands, Inc. was established as a restaurant holding company in Tampa, Florida, where it is headquartered.

1991: Initial Public Offering and Name Change

In 1991, the company went public as a 49-restaurant chain and changed its name to Outback Steakhouse, Inc.

1993: Carrabba's Italian Grill Launch and International Expansion

In 1993, Carrabba's Italian Grill was launched, and the company began its international expansion by opening the first Outback Steakhouse in Canada.

1998: Launch of Roy's Restaurant, Fleming's Prime Steakhouse & Wine Bar, and Lee Roy Selmon's

In 1998, the first units of Roy's Restaurant, Fleming's Prime Steakhouse & Wine Bar, and Lee Roy Selmon's were opened.

2002: Cheeseburger in Paradise Launch

In 2002, Cheeseburger in Paradise was launched as a restaurant concept.

November 7, 2006: Agreement to Buy OSI Restaurant Partners Inc.

On November 7, 2006, The Wall Street Journal reported that Bain Capital, Catterton Partners and founders Sullivan, Basham, and Gannon reached an agreement to buy OSI Restaurant Partners Inc. for about $3 billion.

2006: Opening of Blue Coral Seafood & Spirits

In 2006, OSI opened Blue Coral Seafood & Spirits and planned 15 locations.

June 14, 2007: Completion of Stock Repurchase Plan

On June 14, 2007, OSI Restaurant Partners completed a stock repurchase plan, transitioning to a privately held status.

2009: Closure of Blue Coral Seafood & Spirits

In 2009, OSI decided to close Blue Coral Seafood & Spirits, which had two locations in California.

April 2012: Filing for Initial Public Offering

In April 2012, OSI filed with the Securities and Exchange Commission to raise up to $300 million in an initial public offering.

August 7, 2012: Renaming to Bloomin' Brands and NASDAQ Listing

On August 7, 2012, after their initial public offering, OSI Restaurant Partners was renamed Bloomin' Brands, inspired by the Bloomin' Onion from Outback Steakhouse, and began trading on NASDAQ under the ticker symbol "BLMN."

2016: Bloomin' Brands, Inc. Political Action Committee During the 2016 Election

Bloomin' Brands, Inc. Political Action Committee was active as a PAC during the 2016 election.

2017: Financial Filing from the Federal Election Commission (FEC)

During the 2017-18 period, 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.

2018: Financial Filing from the Federal Election Commission (FEC)

As of the most recent 2018 financial filing from the Federal Election Commission (FEC), the committee raised $334,000 and spent $301,000.

April 1, 2019: David Deno Becomes Bloomin' Brands CEO

On April 1, 2019, David Deno became Bloomin' Brands CEO, succeeding Elizabeth Smith.

August 2023: Starboard Value Acquires Stake in Bloomin' Brands

In August 2023, it was announced that Starboard Value, a New York-headquartered hedge fund, had acquired a 5% stake in Bloomin' Brands for an undisclosed amount.