Time Out Market South America Franchise Agreement
Summary by AI BETAClose X
18 June 2026
Time Out Group plc
("Time Out", the "Company" or the "Group")
Time Out Group signs franchise agreement to bring Time Out Market to South America
Time Out Group plc (AIM: TMO), the global media and hospitality business, today announces that it has signed a master franchise agreement with Giunina LLC, a company established by Brazilian hospitality and entertainment executive Benjamin Ramalho to develop and operate Time Out Market Brazil.
The agreement will bring Time Out Market to South America, with a location in São Paulo expected to open in the first quarter of 2027. The project is expected to become a significant addition to São Paulo's food and cultural landscape, serving both residents and visitors in South America's largest metropolis.
Time Out Market currently operates in 13 cities worldwide and has a further five locations in development. The São Paulo Market will combine Time Out Market's globally recognised editorially curated model with a locally tailored offering reflecting the city's food, drink and cultural scene.
Chris Ohlund, CEO of Time Out Group, said:
"São Paulo is one of the world's great food cities and an exciting next step in Time Out Market's global expansion. We are delighted to partner with Benjamin Ramalho and the team at Giunina LLC to bring our market concept to the region and look forward to creating a destination that showcases the very best of the city's culinary and cultural talent."
Benjamin Ramalho, CEO of Giunina LLC and Founder of Time Out Market Brazil, said:
"We are thrilled to bring Time Out Market to one of South America's most vibrant cities. With its cultural diversity, dynamic food scene and a public eager to discover new experiences, São Paulo is a natural fit for the first Time Out Market in the region."
This is the second Time Out Market franchise agreement signed by the Group, following the launch of its franchise model in India in 2025, and represents a further step in the expansion of the Time Out Market business into new high-growth markets.
Under the franchise agreement, Giunina LLC, through Time Out Market Brazil, will be responsible for the development and operation of the Market in the country, including site selection, leasing, culinary curation and day-to-day operations, with strategic guidance and support from Time Out Group. The Group will generate revenue through contractual franchise fees and ongoing payments, while not contributing capital towards the development of the Market.
The exact location, opening date and culinary partners will be announced in due course.
The existing Market portfolio and expected opening schedule based on calendar year is as follows:
|
Open Markets |
Markets under development - opening in 2026 and beyond |
|
|
Owned & Operated |
Partnerships: Management Agreements (MA) & Licensed (L) |
Partnerships: Management Agreements (MA) & Franchise (F) |
|
● Lisbon ● New York, Brooklyn ● Porto ● Barcelona ● New York, Union Square |
● Montreal (MA) ● Dubai (MA) ● Cape Town (MA) ● Bahrain (MA) ● Osaka (MA) ● Budapest (MA) ● Boston (L) ● Vancouver (MA) |
● Delhi (F) - expected to open in 2026 ● Abu Dhabi (MA) - expected to open in 2026 ● Prague (MA) ● Riyadh (MA) ● São Paulo (F) - expected to open in 2027 |
|
For further information, please contact: |
|
|
Time Out Group plc Chris Ohlund, CEO Matt Pritchard, CFO Steven Tredget, Investor Relations Director |
Tel: +44 (0)207 813 3000 |
|
Panmure Liberum (Nominated Adviser and Broker) Andrew Godber / Edward Thomas |
Tel: +44 (0)203 100 2222 |
|
FTI Consulting LLP Edward Bridges / Ben Fletcher |
Tel: +44 (0)203 727 1000 |
Notes to editors
About Time Out Group
Time Out Group is a global media and hospitality brand that inspires and enables people to experience the best of the city through Time Out Media and Time Out Market.
Time Out launched in London in 1968 to help people discover the exciting new urban cultures that had started up all over the city - today it is the only global brand dedicated to city life. Expert journalists curate and create content about the best things to do, see and eat across over 350 cities in over 50 countries, and across a unique multi-platform model spanning both digital and physical channels. Rooted in the Time Out brand, Time Out Market is the world's first editorially curated food and cultural market, bringing a city's best chefs, restaurateurs and cultural experiences together under one roof. The portfolio includes 13 Markets in cities such as Lisbon, New York and Dubai, and several new locations with expected opening dates in 2026 and beyond, in addition to a pipeline of further locations in advanced discussions.
Time Out Group PLC, listed on AIM (AIM: TMO), is headquartered in the United Kingdom.
About TIme Out Market Brazil
Time Out Market Brazil is the local franchise operation responsible for developing and operating Time Out Markets in Brazil under a master franchise agreement with Time Out Group.
The business is led by hospitality and entertainment executive Benjamin Ramalho through Giunina LLC. Ramalho brings more than three decades of experience across hospitality, culture, entertainment and destination development, and is leading the introduction of Time Out Market's editorially curated food and cultural market concept to Brazil.
The first Time Out Market in Brazil is expected to open in São Paulo in 2027, bringing together the city's best chefs, restaurateurs, drinks and cultural experiences under one roof.
Working closely with Time Out Group, Time Out Market Brazil aims to create destinations that celebrate the unique character, creativity and culinary talent of the cities they serve.
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