IHOP agrees to sell 41 Applebee’s
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From Times Wire Services
IHOP Corp., the biggest U.S. chain of pancake houses, agreed to sell 41 company-owned Applebee’s restaurants to Apple American Group.
Glendale-based IHOP, which bought Applebee’s last year, said it was confident that it could sell 100 Applebee’s restaurants, generating $90 million to $100 million in proceeds in its 2008 fiscal year.
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