GLENDALE Calif. IHOP Corp. will change its corporate name to DineEquity Inc., effective June 2, to better reflect ownership of both the IHOP and Applebee’s Neighborhood Grill & Bar brands, officials said Wednesday.
Common stock will begin trading under the symbol “DIN” on the New York Stock Exchange, and the website will be www.dineequity.com.
IHOP acquired the Applebee’s brand in a $2.3 billion transaction last fall. The two brands combine for 3,300 restaurant locations nationwide.
"The acquisition of Applebee’s required that we select a name for our company that reflects our company’s core competencies and recognizes our ownership of multiple brands; and DineEquity does just that," said Julia Stewart, IHOP chairman and chief executive. "Further, DineEquity’s tagline, ‘Great franchisees; great brands,’ prominently identifies two of the most important contributors to our success. With Applebee’s and IHOP, we have brought together two great brands and we are beginning to demonstrate how we are more successful together than we could ever have been apart.”
