Dine Brands Explained

Dine Brands Global Inc.
Former Names:International Industries
(1960–1976)
IHOP Corporation
(1976–2008)
DineEquity Inc.
(2008–2018)
Type:Public
Traded As:
S&P 600 component
Area Served:Worldwide
Key People:John Peyton (CEO)
Jay Johns, President IHOP
Tony Moralejo, President Applebee's
Paul Damico, President Fuzzy's Taco Shop
Industry:Restaurants
Genre:Casual dining
Revenue: US$910.2 million (2019)
Num Employees:621 (2023)
Subsid:IHOP
Applebee's
Fuzzy's Taco Shop
Homepage:dinebrands.com
Hq Location City:Pasadena, CA
Kansas City, MO
Hq Location Country:U.S.
Locations:3,500 (as of June 30, 2023)[1]

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. 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.[1] [6]

In December 2022, they acquired Fuzzy's Taco Shop for $80 million in cash, adding 138 restaurants in 18 states.[7]

Notes and References

  1. Web site: Dine Brands Global Annual Report. SEC. February 24, 2020. March 20, 2020.
  2. Web site: 1986-08-05. The IHOP : Chain Goes Flat Out to Prove That It Serves More Than Just Pancakes. live. https://web.archive.org/web/20190705223853/https://www.latimes.com/archives/la-xpm-1986-08-05-fi-1603-story.html . 2019-07-05 . 2021-01-01. Los Angeles Times. en-US.
  3. Web site: IHOP to acquire Applebee's for $1.9 billion. July 16, 2007. NBC News. July 12, 2019.
  4. News: IHOP's Tall Order: Reviving Applebee's . . Janet . Adamy . October 31, 2007. July 12, 2019.
  5. News: DineEquity reveals new name . . Rebekah . Shouten . February 11, 2018. April 19, 2024.
  6. Web site: Dine Brands looks to acquire a regional chain. Telesca . Jenna. February 22, 2019. Nations Restaurant News. March 4, 2019.
  7. Web site: O'Donnell . Paul . News • • . the Dallas Morning . Fuzzy's Taco Shop Sells for $80 Million to Parent Company of Applebee's and IHOP . 2022-12-07 . NBC 5 Dallas-Fort Worth . en-US.