Dine Brands Global Inc.
FormerlyInternational Industries
(1960–1976)
IHOP Corporation
(1976–2008)
DineEquity Inc.
(2008–2018)
TypePublic
NYSE: DIN
S&P 600 component
IndustryRestaurants
GenreCasual dining
Founded1958 (1958)
Headquarters
Pasadena, CA
Kansas City, MO
,
U.S.
Number of locations
3,500 (June 30, 2023)[1]
Area served
Worldwide
Key people
John Peyton (CEO)
Jay Johns, President IHOP
Tony Moralejo, President Applebee's
Paul Damico, President Fuzzy's Taco Shop
RevenueIncrease US$910.2 million (2019)[1]
Number of employees
621 (2023)[1]
SubsidiariesIHOP
Applebee's
Fuzzy's Taco Shop
Websitedinebrands.com

Dine Brands Global Inc. is a publicly traded food and beverage company based in Pasadena, California. Founded in 1958 as IHOP, it operates franchised and corporate owned full-service restaurants including three restaurant concepts, Applebee's Neighborhood Grill & Bar, International House of Pancakes (IHOP), and Fuzzy's Taco Shop.

History

In the late 1950s, Al Lapin Jr. formed a new holding company for the International House of Pancakes chain called International Industries. Eventually the holding company consisted of International House of Pancakes, Orange Julius, Love's Wood Pit Barbecue, Golden Cup Coffee Shops, The Original House of Pies, Wil Wright's Ice Cream Shoppes, and Copper Penny Coffee Shops.

In 1976, International Industries was renamed to IHOP, Inc; and IHOP Corporation was founded as a new holding firm for IHOP, Love's, and OHOP (which was later sold shortly after).[2] In 1979, it was purchased by Wienerwald Holding, the owners of Wienerwald and Lum's chains.[2] Who later declared bankruptcy, and sold IHOP Corp to SVIDO in 1983; who hadn't been involved in the restaurant business prior.

In 1987, IHOP was purchased by a investment group led by Richard K. Herzer; returning IHOP's ownership by an American company. Four years later, the company went public for the first time since 1979.

In 2007, IHOP Corp announced it would be acquiring Applebee's International for approximately $2.1 billion.[3] Following the closing, IHOP Corporation was renamed to DineEquity Inc.; and subsequently announced it would franchise most of Applebee's 500 company-owned locations, and undertake a plan to revitalize the chain's brand and concept.[4]

In 2018, it was renamed to Dine Brands Global. Dine Brands Global's focus is to passionately nurture and grow the world's favorite restaurant brands.

As of December 31, 2019, Dine Brands had 3,628 restaurants including 1,787 Applebee's and 1,841 IHOP restaurants, including 69 Applebee's that are company owned, 161 IHOP restaurants that are owned by area licensees and 3,398 franchised restaurants including 1,718 Applebee's and 1,680 IHOP restaurants.[1][5]

In December 2022, they acquired Fuzzy's Taco Shop for $80 million in cash, adding 138 restaurants in 18 states.[6]

References

  1. 1 2 3 4 "Dine Brands Global Annual Report". SEC. February 24, 2020. Retrieved March 20, 2020.
  2. 1 2 "The IHOP : Chain Goes Flat Out to Prove That It Serves More Than Just Pancakes". Los Angeles Times. 1986-08-05. Archived from the original on 2019-07-05. Retrieved 2021-01-01.
  3. ↑ "IHOP to acquire Applebee's for $1.9 billion". NBC News. July 16, 2007. Retrieved July 12, 2019.
  4. ↑ Adamy, Janet (October 31, 2007). "IHOP's Tall Order: Reviving Applebee's". The Wall Street Journal. Retrieved July 12, 2019.
  5. ↑ Telesca, Jenna (February 22, 2019). "Dine Brands looks to acquire a regional chain". Nations Restaurant News. Retrieved March 4, 2019.
  6. ↑ O'Donnell, Paul; News • •, the Dallas Morning. "Fuzzy's Taco Shop Sells for $80 Million to Parent Company of Applebee's and IHOP". NBC 5 Dallas-Fort Worth. Retrieved 2022-12-07.
  • Official website
  • Business data for Dine Brands Global:
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.