Transaction to net nearly $16M, brings Applebee's close to 95% franchised
Applebee’s parent company DineEquity Inc. said Thursday it has signed an agreement to sell 17 corporate restaurants across six states in the mid-South to franchisee Apple Investors Group LLC. The transaction, which includes locations in Tennessee, Illinois, Mississippi, Missouri, Kentucky and Arkansas, is expected to net proceeds after taxes of about $15.9 million, and reduce DineEquity’s sale-leaseback-related financing obligations by $11.3 million, the company said. Once ...
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