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IHOP Buys Applebee’s Restaurant

July 18, 2007 By Lorraine

applebees-ihop-purchase-7-18-07.jpgThe newest restaurant news on the street is that IHOP recently purchased Applebee’s for just under $1.9 billion.  The sale makes some sense, since IHOP’s CEO is actually the former president of Applebee’s.

Apparently IHOP plans to sell & then lease back the 508 Applebee’s restaurants to help reduce any further debt.  I’m no expert business mind, but I can tell you that I’ve never really enjoyed Applebee’s fatty foods.

Filed Under: Tid Bits & News

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