Bloomin' Brands completes sale of 67% stake in Brazil operations for ~$225M; CFO to lead Brazilian entity

Bloomin' Brands, Inc.

Closed sale of 67% of Brazil unit to Osaka Participações (Vinci Partners fund) for R$1.4B (~$225M); $117.2M received at close.
Remaining 48% of purchase price due in one year, hedged with FX forward contracts.
Pierre Berenstein to leave corporate role; becomes CEO of OSRB, receives $2M in equity (50% funded by company).
Shareholders agreement includes put-call option for full exit of remaining 33% stake between Oct 2028 and Dec 2028.
Sale follows strategic review; company retains 33% stake with board representation and governance rights.

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