The 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.