The UK operation of Outback Steakhouse, the Australian-themed casual dining concept, has been but up for sale, M&C Report understands.
The sale, which is being handled by Coffer Corporate Leisure, includes the franchise rights to the UK market.
It is thought that the six locations – Basildon, Enfield, Romford, Staines, Stevenage and Wandsworth – will be sold off on a site-by-site basis if a buyer interested in the existing business cannot be found.
Parties interested in the sites are likely to include Brinker UK, the operator of Chili’s that recently held abortive talks with Ma Potter's, Regent Inns, which operates Old Orleans, and the Blackstone-backed Tragus Holdings, which operates Café Rouge and Ortega.
The UK arm of Outback is led by Mike Palmer, who took the helm of the operation about a year ago after Phil Broad, the former managing director, left to head up Starbucks’ UK operation.
Operators suggest that the business has failed to flourish in the UK, hampered by high operating costs and high franchise fees.
In the US, the brand is operated by OSI Restaurant Partners, which also runs Carrabba’s Italian Grill, Lee Roy Selmon’s, Cheeseburger in Paradise and Bonefish Grill.
Through joint ventures it is also involved with Fleming’s Prime Steakhouse & Wine Bar and Blue Coral Seafood & Spirits.
Outback Steakhouse also operates in 20 countries around the world including Australia, Brazil, Canada, Japan, Mexico and Thailand.
The US parent company was recently acquired by private equity groups Bain Capital Partners and Catterton Partners in a deal that valued the company at $3.2bn (£1.65bn), including assumed debt.
