Dine Brands Global Inc. has made a deal to open International House of Pancakes locations in Pakistan.
The Glendale restaurant company will partner with Gerry’s Group, a leading logistics and food and beverage group in Pakistan, to open 19 IHOP restaurants throughout the country over the next nine years. Gerry’s Group will franchise nine of these storefronts itself and will sub-franchise the 10 others. The first location in Karachi is expected to open by the end of 2019.
The move continues Dine Brands’ expansion into the Asia Pacific market, which the company cited as an important growth area.
“My commitment as CEO of Dine Brands Global was to return it to a growth company, and our international development is certainly a major component of that growth,” Steve Joyce, Dine Brands chief executive, said in a statement. “Key to our international strategy is identifying and entering new markets, such as Pakistan, that have a rapidly growing economy.”
Dine Brands has signed deals in 2019 to bring the IHOP brand to Peru and Ecuador, and to expand its presence in Canada to multiple Atlantic provinces. The company is actively exploring opportunities to bring IHOP to the United Kingdom.
Shares of Dine Brands (DIN) closed Monday down 51 cents, or less than 1 percent, to $86.47 on the New York Stock Exchange.