.Goldman Nears Deal for Applebee's Franchisee

Goldman Sachs Group Inc.'s private-equity arm is near a deal to buy closely held Apple American Group LLC, the largest franchisee of Applebee's Neighborhood Grill and Bar restaurants in the U.S., people familiar with the matter said.

GS Capital Partners is buying Apple American—which it once controlled—from Weston Presidio, which manages more than $3 billion and invests in late-stage-growth companies.

The exact terms of the proposed deal couldn't be learned, but people familiar with the matter said it was worth several hundred millions of dollars.

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