I'm headed off to work and will miss this. Might be a good watch on CNBC today Tilman Fertitta owner of a big competitor of BLMN's Outback is on.
Oldie
RE-BLMN speculation Roark Capital Group bought out Buffalo Wild wings for over two Billion. Are they ready for a hypothetical upscale buy? Buffalo Wild Wings is now thinking about sports betting. There's is another who I know is in the restaurant business , sports, and gambling.
Mr. Mitarotonda's Barrington capital made out quite well, I presume on the LyondellBasell /SHLM acquisition. IMO he might be thinking how BLMN can be monetized for shareholders. I'm sure Jana Partners would like to cash out what stake it has left.
A. Schulman(SHLM_). Barrington's James Mitarotonda has been buying more than 15,000 shares during the past few days. In his last transaction he paid $21.35, which was also the closing price for the stock on Friday. | From: richardred | 3/8/2017 10:28:04 AM |
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| New buy today- BLMN- BLOOMIN BRANDS- It's been awhile since I've been in the restaurant space. I can't help, but think of post acquisition minded Tilman Fertitta, when I think of this company. I remember his chain of acquisitions over the years. Maybe he's ready to buy again? A good chance to turn around this under- performer? IMO a good way for him to get into new regional markets converting his signature brands from Bloomin's under-preforming restaurants. Another plus, taking out some competition to increase margins. A light dividend for holding if nothing acquisitive develops, but also a chance for operational improvement if nothing happens.
Some BLMN restaurants- possible synergies- steak & seafood- medium to upscale markets
Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill, an upscale casual seafood restaurant; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.
Against
Morton’s The Steakhouse, Rainforest Cafe, Bubba Gump Shrimp Co., McCormick & Schmick’s Seafood & Steaks, Saltgrass Steak House, Claim Jumper, Chart House, The Oceanaire, Mastro’s Restaurants, Vic & Anthony’s Steakhouse
P.S.
To be truthful. I used to like Outback, but currently I prefer Darden's Longhorn Steakhouse over Outback. Many of my friends say Carrabba's is very good. However they only seem to be open for dinner when I drive by. Olive Garden is open for Lunch. |
Barington Capital's Jim Mitarotonda says Outback Steakhouse's parent company, Bloomin' Brands, has become too complicated. He wants it to spin off smaller chains, including Bonefish Grill.
thestreet.com |
