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.
 | |
| Formerly | International Industries (1960–1976) IHOP Corporation (1976–2008) DineEquity Inc. (2008–2018) |
|---|---|
| Company type | Public |
| NYSE: DIN | |
| Industry | Restaurants |
| Genre | Casual dining |
| Founded | 1958 |
| Headquarters | , |
Number of locations | 3,588 (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 |
| Revenue |  US$831.1 million (2023)[1] |
Number of employees | 596 (2023)[1] |
| Subsidiaries | IHOP Applebee's Fuzzy's Taco Shop |
| Website | dinebrands.com |
History
editIn 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, reflecting a change in strategy "with greater autonomy and accountability at the brand level".[5]
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.[6][7]
In December 2022, they acquired Fuzzy's Taco Shop for $80 million in cash, adding 138 restaurants in 18 states.[8]
References
edit- ^ a b c "Dine Brands Global, Inc. Annual Report 2023". SEC. February 28, 2024. Retrieved October 11, 2024.
- ^ a b "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.
- ^ "IHOP to acquire Applebee's for $1.9 billion". NBC News. July 16, 2007. Retrieved July 12, 2019.
- ^ Adamy, Janet (October 31, 2007). "IHOP's Tall Order: Reviving Applebee's". The Wall Street Journal. Retrieved July 12, 2019.
- ^ Shouten, Rebekah (February 11, 2018). "DineEquity reveals new name". Food Business News. Retrieved April 19, 2024.
- ^ "Dine Brands Global, Inc. Annual Report 2019". SEC. February 24, 2020. Retrieved October 11, 2024.
- ^ Telesca, Jenna (February 22, 2019). "Dine Brands looks to acquire a regional chain". Nations Restaurant News. Retrieved March 4, 2019.
- ^ 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.
External links
edit- Official website
- Business data for Dine Brands Global: