Dine Brands Global

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Dine Brands Global Inc.
Formerly
IHOP Corporation
(1976–2008)
DineEquity Inc.
(2008–2018)
Public
Traded asNYSEDIN
S&P 600 Component
IndustryRestaurants
GenreCasual dining
Founded1976; 43 years ago (1976)
Headquarters,
Number of locations
3,652 (March 31, 2019)[1][2]
Area served
Worldwide
Key people
Stephen P. Joyce (CEO)
Darren Rebelez, President IHOP
John Cywinski, President Applebee's[3]
RevenueIncrease US$780.9 million (2018)[2]
Number of employees
3,300 (2018)[2]
SubsidiariesIHOP
Applebee's
Websitedinebrands.com

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.[4]

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.[5] The transaction was led by Julia Stewart, who had left Applebee's to become IHOP's CEO in 2001.[6]

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 Sack, believed the purchasing price was unfair to the shareholders and planned to take IHOP to court.[7] 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.[2][8]

As of March 31, 2019, Dine Brands had 3,652 restaurants including 1,830 Applebee's and 1,822 IHOP restaurants, including 69 Applebee's that are company owned, 159 IHOP restaurants that are owned by area licensees and 3,424 franchised restaurants including 1,761 Applebee's and 1,663 IHOP restaurants.[1][9]

See also[edit]

References[edit]

  1. ^ a b "Dine Brands Global Quarterly Report". SEC. May 1, 2019. Retrieved July 12, 2019.
  2. ^ a b c d "Dine Brands Global Annual Report". SEC. February 21, 2019. Retrieved July 12, 2019.
  3. ^ "Management Biographies". DineEquity, Inc. Archived from the original on 20 February 2013. Retrieved 2 September 2013.
  4. ^ "Company Profile". Fidelity. Retrieved March 4, 2019.
  5. ^ Tong, Vinnee (July 16, 2007). "IHOP to Buy Applebee's for About $1.9B". Associated Press. Archived from the original on August 19, 2007. Retrieved September 5, 2013.
  6. ^ "IHOP to acquire Applebee's for $1.9 billion". NBC News. July 16, 2007. Retrieved July 12, 2019.
  7. ^ "Director opposes Applebee's sale to IHOP". American City Business Journals. October 24, 2007. Retrieved July 12, 2019.
  8. ^ Adamy, Janet (October 31, 2007). "IHOP's Tall Order: Reviving Applebee's". The Wall Street Journal. Retrieved July 12, 2019.
  9. ^ Telesca, Jenna (February 22, 2019). "Dine Brands looks to acquire a regional chain". Nations Restaurant News. Retrieved March 4, 2019.

External links[edit]