Saturday, July 24, 2010

DineEquity sells 63 Applebee's locations for $32M

GLENDALE, Calif. (AP) -- DineEquity Inc., which owns Applebee's Neighborhood Grill & Bar and IHOP restaurants, said Friday it agreed to sell 63 company-operated restaurants to its largest franchisee, Apple American Group LLC, for $32 million.

The restaurants are in Minnesota and Wisconsin.

Closing is subject to regulatory processes related to liquor license transfers and other closing conditions.

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