Los Angeles Business Journal

DineEquity Sells Applebee's Restaurants to Franchisee

Wednesday, July 25, 2012

DineEquity Inc., the parent of Applebee's Neighborhood Grill & Bar and IHOP restaurants, has agreed to sell 65 company-operated Applebee's in Michigan for about $61 million. The Wall Street Journal reports that the deal enables the Glendale company to nearly complete its transition to a franchisor business model.