Los Angeles Times:
IHOP buying Applebee's for $2.1 billion
By Daniel Yi
Times Staff Writer
Pancake chain IHOP Corp. will aggressively franchise Applebee's restaurants under a $2.1-billion acquisition plan announced today.
Glendale-based IHOP, which offered $25.50 per share in cash for the Overland Park, Kan., restaurant chain, said its main strategy would be to franchise the majority of the 508 restaurants currently owned by Applebee's International Inc.
Applebee's franchises about three-quarters of its 2,000 restaurants. In contrast, 99% of IHOP's 1,319 eateries are operated by franchisees. IHOP believes the strategy will save money and help boost Applebee's laggard financial performance.
Finally!
Riblets for breakfast!
1 comment:
For an interesting evening out, try the Grand Avenue Applebees... guaranteed to cause sickness, or your money back!
On a more important note... wheres the Alli coverage?
http://www.thewvsr.com/alli.htm
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