Franchisee Buying All 37 Applebee’s In D-FW, Waco

The Dallas Morning News:

A franchisee has signed a deal to buy all 37 Applebee’s restaurants in the Dallas, Fort Worth and Waco areas, the parent company said this week.


The deal was part of a sale of 110 company-operated Applebee’s around the country, the majority of which are Applebee’s least profitable restaurants, said the restaurant’s parent company, California-based DineEquity Inc.

The company identified the Dallas-Fort Worth buyer as Sunil Dharod, a franchisee new to the Applebee’s system and president and chief executive of Synned Inc. of Dallas.

The sale, which is expected to be completed in the fourth quarter, instantly makes Mr. Dharod one of the largest Applebee’s operators in the state and one of the largest casual dining restaurateurs in the Dallas area. He’s entering a restaurant segment that has been among the hardest hit by the economic slowdown.

Mr. Dharod operates 18 Burger King restaurants and 11 Blockbuster stores in North Texas. He also owns several shopping centers and office buildings. He was not available for comment.

Logo from Applebee’s.

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