Bloomin’ Brands, the owner of Outback Steakhouse, will try to raise $300 million through an IPO. The deal may succeed although the company’s other brands are hardly known–Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar and Roy’s Hawaiian Fusion Cuisine.
But, much larger competitor Burger King will set an IPO date soon. McDonald’s (NYSE: MCD) has been on a run of record results and stock buybacks. Results from KFC locations in China have driven shares of Yum! (NYSE: YUM) to new highs. If Bloomin’ Brands plans to exploit the markets, there cannot be a better time.
The new IPO season may not be as dominated by tech as was the one in the first quarters