IHOP buys Applebee's

by Bob Sassone, Posted Jul 17th 2007 @ 12:46PM

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.

Filed Under: Business, Chefs & Restaurants, Restaurants
Tags: applebee's, franchise restaurants, ihop, ihop buys applebee's, IhopBuysApplebee's, international house of pancakes

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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".
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7-17-2007 @4:54PM jsmylie said... Here's to hoping we don't see any more infants served margaritas.
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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.
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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.
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