DineEquity Inc. said Friday it has agreed to sell 63 corporate Applebee’s restaurants in Minnesota and Wisconsin to the chain’s largest franchisee, Apple American LLC, for $32 million. The deal, which does not contain a financing contingency and is subject to regulatory approval, is expected to close in the fourth quarter, Glendale, Calif.-based DineEquity said. The transaction will allow the company, which operates and franchises both Applebee’s and IHOP, to reduce ...
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Contact: Desiree Torres Desiree.Torres@penton.com