IHOP Corporation (1976–2008) DineEquity Inc. (2008–2018) | |
Public | |
Traded as | NYSE: DIN S&P 600 Component |
---|---|
Industry | Restaurants |
Genre | Casual dining |
Founded | 1976; 43 years ago |
Headquarters | , |
3,716 in 20 countries (2015)[1] | |
Area served | Worldwide |
Stephen P. Joyce (CEO) Darren Rebelez, President IHOP John Cywinski, President Applebee's[2] | |
Revenue | US$681.1 million[1] |
Number of employees | 200,000 (including franchisee-and company-operated restaurant employees) |
Subsidiaries | IHOP Applebee's |
Website | dinebrands.com |
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Dine Brands Global Inc. is an American public owned corporation. It was founded in 1958, with their first restaurant opening in Toluca Lake, California. Dine Brands Global operates franchised and corporate owned full-service restaurants including two restaurant concepts, Applebee's Neighborhood Grill & Bar and International House of Pancakes (IHOP).The corporate headquarters is currently in Glendale, California[3].
History[edit]
On July 16, 2007, IHOP announced its intent to acquire Applebee's for $25.50 per share, with an all-cash valuation of approximately $2.1 billion.[4] The transaction was led by Julia Stewart, who had left Applebee's to become IHOP's CEO in 2001.[5]
The sale was completed November 29, 2007, with the combined company becoming known as DineEquity. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton 'Skip' Sack, believed the purchasing price was unfair to the shareholders and planned to take IHOP to court. IHOP stated it would franchise most of Applebee's 500 company-owned locations, and undertake a plan to revitalize the chain's brand and concept.[1][6]
As of February 22, 2019 Dine Brands had more than 3,600 franchised and corporate owned Applebee's and IHOP's collectively in the United States of America[7].
See also[edit]
References[edit]
- ^ abc'2015 DineEquity Annual Report'(PDF). Retrieved 11 August 2017.
- ^'Management Biographies'. DineEquity, Inc. Archived from the original on 20 February 2013. Retrieved 2 September 2013.
- ^'Company Profile'. Fidelity. Retrieved March 4, 2019.
- ^Tong, Vinnee (16 July 2007). 'IHOP to Buy Applebee's for About $1.9B'. Associated Press. Archived from the original on 2007-08-19. Retrieved 5 September 2013.
- ^News, A. B. C. (9 February 2009). 'From the Kitchen to the Boardroom'. ABC News. Retrieved 11 August 2017.
- ^Adamy, Janet (October 31, 2007). 'IHOP's Tall Order: Reviving Applebee's'. The Wall Street Journal.
- ^Telesca, Jenna (February 22, 2019). 'Dine Brands looks to acquire a regional chain'. Nations Restaurant News. Retrieved March 4, 2019.
External links[edit]
- Business data for Dine Brands Global:
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Dine_Brands_Global&oldid=901693054'
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