IHOP Completes Acquisition of Applebee’s

IHOP Corp. completed its acquisition of Applebee’s International Inc., resulting in the largest full service restaurant company in the world. The deal between Glendale-based IHOP and Applebee’s is valued at $2.1 billion. IHOP’s strengths in re-energizing restaurant brands, franchising and expense management are ideally suited to improve Applebee’s overall brand and financial health, said Chairman and Chief Executive Officer Julia A. Stewart “We look forward to applying the same focus and discipline that we have employed successfully at IHOP over the last several years to generate meaningful and sustainable improvements within the Applebee’s business,” Stewart said.