Bloomin' Brands selling Roy's

TAMPA — Bloomin' Brands Inc. has reached an agreement to sell its interest in the Roy's restaurant concept, including 20 company-owned restaurants, to Sunil Dharod' United Ohana LLC. Dharod, president and CEO of Apple Texas and Apple Houston, is the owner and operator of 69 Applebee's restaurants in Texas.

The deal is expected to close in the next 30 to 60 days.

The Pacific Rim cuisine restaurant chain Roy's was founded in Honolulu, Hawaii, in 1988 by Chef Roy Yamaguchi. There are 29 locations around the world — 21 in the continental United States, six in Hawaii, one in Japan and one in Guam. Roy's joined the Bloomin' Brands portfolio in 2000.

Lazard acted as the exclusive financial adviser to Bloomin' Brands on the sale of Roy's.

Bloomin' Brands Inc. is one of the largest casual dining restaurant companies in the world with a portfolio that includes: Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, Fleming's Prime Steakhouse and Wine Bar and Roy's. The company owns and operates more than 1,500 restaurants in 48 states, Puerto Rico, Guam and 20 countries.