Bloomin' Brands, Inc. (BLMN): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bloomin' Brands, Inc. completed a disposition involving Osaka Participações Societárias S.A. for R$1.4 billion Reais (approximately $225.3 million in U.S. Dollars) (closed 2024-12-30).

Action: disposition
Counterparty: Osaka Participações Societárias S.A.
Consideration: R$1.4 billion Reais (approximately $225.3 million in U.S. Dollars)
Closing: 2024-12-30

Exact text from the filing

On the Closing Date, Buyer acquired 67% of the capital stock of BPar from the Seller for a purchase price of R$1.4 billion Reais (approximately $225.3 million in U.S. Dollars based on the current exchange rate), subject to customary post-closing adjustments (the “Purchase Price”).

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4 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Bloomin' Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001546417-24-000170

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