In 2005, Jimmy Buffett sold his holdings of the chain to Outback Steakhouse, Inc. under the name OSI Restaurant Partners Inc., who previously held a 50% share in the chain.

Although he gave up ownership, Buffett continues to have a big say in the chain’s operations. Buffett and his company license to Outback the use of the Cheeseburger in Paradise name, and Outback is free to use Buffett’s name, image and the song “Cheeseburger in Paradise.” In return, Outback pays a royalty of 4.5 percent of restaurant sales to Buffett’s company. Outback previously had paid Buffett a royalty of 2 percent.

In February of 2008, OSI Restaurant Partners Inc. began closing stores because of a “shift in strategic business planning.”

Visit their official website to see restaurant locations.