Bloomin' Brands, Inc. has agreed to sell all of its interests in its Roy's concept, including 20 company-owned restaurants, to United Ohana, LLC, a new company formed by Sunil Dharod.

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

Dharod, president and chief executive officer of Apple Texas and Apple Houston, is the owner and operator of 69 Applebee's restaurants in Texas.

Roy's joined the Bloomin' Brands portfolio in 2000 and was founded in Honolulu, Hawaii, in 1988 by Chef Roy Yamaguchi. The restaurant is known for its Pacific Rim Cuisine. There are 21 Roy's locations in the continental United States, 6 in Hawaii, 1 in Japan and 1 in Guam.