05/30/2024 – 8:00
A Outback Cottage, the first unit of the Brasil network, was reopened in Rio de Janeiro, with the presence of Pierre Berensteinvice-executive president of Bloomin’Brandswhich also owns the Abraccio and Aussie Grill brands,
The executive arrived in the country in a at a time when the market still has doubts about the future of Outback on Brazilian soil due to the group having announced that it is studying strategic alternatives for restaurants in Brazil, including a possible sale.
“We announced that we are looking for strategic alternatives for the company, but we were very clear that we are not limited to a sale. There are several strategies that our bank is studying to maximize the company’s value and we strongly believe in growth potential”, said Berenstein.
Among the possibilities being analyzed is the search for new partners. But he assured that the group is happy with the Brazilian operation and that it intends to continue investing here.
“And as we address the company’s maximum growth potential in Brazil, if we do not find a partner or another structure, we remain very happy investing in the country”, said the executive, reinforcing that Bloomin’ Brands remains 100% responsible for the operation of restaurants in Brazil.
In 2023, an investment of R$20 million was made for the brand’s expansion and new businesses.
Currently with 165 units in Brazil and around 12 thousand employees, the owner of Outback plans to open 8 more units in the chain by the end of the year: two in June, in Jundiaí (SP) and Chapecó (SC); four in July, in Sorocaba (SP), Porto Velho (RO), São Carlos (SP) and Volta Redonda (RJ); and two in August, in Itu (SP) and Fortaleza (CE).
The announcement about the group’s possible departure from Brazil was disclosed in the financial results report for the first quarter of 2024, which showed a drop in global revenue. The group totaled US$1.2 billion in total revenue in the first three months of the year, a drop of 4% over the same period in 2023. There was also a drop in the company’s operating margin from 9.7% to 6.4%.
Asked about the negative numbers, Berenstein said that shareholders received a return of US$155 million (between dividends and share buybacks) and highlighted that the company has no active debts.
The Outback Cottage reopened its doors to the Rio public on the night of Tuesday, 28th, in Barra da Tijuca. in the same place where it was opened 27 years ago, marking the network’s arrival in the country.
“Here it is much more than a renovation because we are talking about architecture, decoration, new uniforms and dishes, kids space and more. This means how Outback wants to position itself in the market for the coming years”, said Mauro Guardabassi, new president of the company’s operations in Brazil.30
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