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(Sharecast News) - Time Out Group announced on Thursday that it has signed a master franchise agreement with Giunina LLC to bring Time Out Market to Brazil, marking the hospitality and media group's first market in South America.
The AIM-traded company said the first Brazilian site was expected to open in So Paulo in the first quarter of 2027.
Giunina, established by Brazilian hospitality and entertainment executive Benjamin Ramalho, would be responsible for site selection, leasing, culinary curation and day-to-day operations, with Time Out providing strategic guidance and support.
Time Out said it would generate revenue through franchise fees and ongoing payments, without contributing capital to the development.
Chief executive Chris Ohlund said So Paulo was "one of the world's great food cities", while Ramalho said the city was "a natural fit for the first Time Out Market in the region".
Reporting by Josh White for Sharecast.com.
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