History of Acquisitions and Mergers
Outback Steakhouse, Inc. (OSI) was established in 1988 by four friends: Bob Basham, Chris Sullivan, Trudy Cooper and Tim Gannon. It is an Australian-themed casual dining restaurant chain, based out of Tampa, Florida with over 1,000 locations throughout North and South America, Asia and Australia. (Sasso, 2007)
There are eight different restaurant chains under OSI that include Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, Fleming’s Prime Steakhouse & Wine Bar, Cheeseburger in Paradise, Roy’s, Lee Roy Selmon’s and Blue Coral Seafood & Spirits. OSI had over $200 million in debt before this sale; it wound up with about $2.4 billion after the deal and this caused them to make the decision to
…show more content…
The Board is responsible for being kept appraised of the content and operations of the ethics and compliance programs. They also exercise the appropriate oversight with respect to implementing and ensuring the effectiveness of the ethics and compliance program. The Audit Committee oversees compliance with the Company’s Code of Business
Conduct and Ethics, applicable to the Company’s employees, including its executive officers, and Directors. Outback Steakhouse participates in several programs that give back to the communities that they operate and for team building in such as golf classics for John Hopkins Hospital cancer programs, domestic violence awareness month, beach clean-up efforts, volunteer days, and wheelchairs for charity to name just a few. These types of programs help to create a stronger brand for Outback Steakhouse and builds upon their reputation. A strong ethics and compliance program will help to ensure that the company and the employees are treating one another and customers with respect and fairly, which in turn will help increase the bottom line of the