IHOP buys Applebee's

by Bob Sassone (Subscribe to Bob Sassone's posts)
Posted Jul 17th 2007 12:46PM
Filed under: Restaurants, Business

Applebee's

All of the numbers in this New York Times piece give me an Excedrin headache, but what it comes down to is this: IHOP just bought Applebee's for around $1.9 billion.

IHOP's CEO is a former president at Applebee's, so I guess they're keeping it in the family.

Here's where the numbers come in: IHOP is going to sell (and then lease back) Applebee's 508 restaurants, to help reduce any debt. IHOP thinks that the restaurants that have been open at least a year and a half will increase sales by 2 to 3%, compared to a 4% drop last quarter. In the stock market yesterday, IHOP closed up at $61.24 and Applebee's closed up at $24.91.

Tags: applebee's, franchise restaurants, ihop, ihop buys applebee's, IhopBuysApplebee's, international house of pancakes

Comments [5]

Permalink

Print Email Twitter Facebook Digg AIM Share

Reader Comments (Page 1 of 1)

7-17-2007 @ 2:06PM

John said...

"IHOP just bought Applebee's for around $1.9 million."

That would be quite the bargain. It's billion, with a "B".

7-17-2007 @ 4:54PM

jsmylie said...

Here's to hoping we don't see any more infants served margaritas.

7-18-2007 @ 1:44AM

Steven Andrew Miller said...

There are only 508 Applebee's locations? God, it seems like a lot more than that.

7-22-2007 @ 3:55PM

Hillbill said...

I'm going to make the point that it's not Applebees fault some idiot filled a kids cup with margarita mix. Don't blame an entire restaurant chain for one persons mistake.

4-05-2009 @ 10:31AM

CM said...

508 corporate owned Applebees, rest are franchise. Close to 1900 total.

#	Blogger	Posts	Cmts
1	Slashfood Editor	81	0
2	Alexa Weibel	54	2
3	Sarah LeTrent	35	0
4	Hanna Raskin	31	0
5	Emily Farris	19	0
6	Jennifer Lawinski	16	0
7	Sara Bonisteel	14	0
8	Michael Thomas Hastings	10	0
9	David Koeppel	8	0
10	Jennifer Iserloh	8	0
11	Jose Ralat Maldonado	7	1
12	LeNell Smothers	5	0
13	Sarah Christine	5	0
14	Mike Pomranz	5	1
15	Kristine Hansen	5	0
16	Joshua M. Bernstein	5	2
17	Monika Bartyzel	4	0
18	Erin Meister	4	0
19	John Devore	4	0
20	Max Shrem	4	0

Blogger

Posts

Cmts

Michael Thomas Hastings

Radio Disney: A Place For Music That's Both Safe and Cool Green To-Go: BabyBjorn Organic Baby Carrier Olivia Newton-John Answers Your Questions	Fresh Faced All Day, From Shopping to Parties and More! One in 10 Obese People Think Their Body Is Healthy Avoid Holiday Weight Gain
Black Friday Is All Weekend This Year 'Fantastic Mr. Fox' Style - Wes Anderson's Tailor Talks Suits and Cinema Patrick Dempsey 2 Fragrance Giveaway	Exclusive: Meet the One 13-Year-Old Who Despises 'Twlight' and Robert Pattinson Mysteries of "Zhu Zhu Hamsters," "Al Alberts," and "White House Party Crashers" Solved 'Yo Gabba Gabba!' Collects Celebrity Fans
Gift Idea: Peter Norton's Family Christmas Art Projects Trend Watch: Glow In The Dark Bedding Store Your Paperwork On a Fabric Shelf?	Turkey Day Treats; Puppy Puritans Am I Boring My Dog? -- A Sassy Survival Guide for the First-Time Dog Owner TV Movie 'A Dog Named Christmas' Debuts on Sunday, Kicking off Holiday Pet Fostering Program