DineEquity Inc., the parent company of Kansas City-based Applebee’s, is selling 65 company-operated Applebee’s restaurants for $61 million, a deal that would complete the restaurant chain’s transition to a 99 percent-franchised system.
DineEquity announced Wednesday that it would sell 65 Michigan restaurants to TSFR Apple Venture LLC. After the sale, DineEquity will own 23 test-market Applebee’s restaurants. In total, it has sold or reached sale agreements for 510 locations since acquiring Applebee’s in November 2007. More.
Applebee’s Deal Finishes Restaurant Franchising Push
July 27, 2012 by Cris | 0 Comments