DineEquity (NYSE: DIN) is a United States company that both franchises and operates restaurants. Headquartered in Glendale, California, the company was founded originally as IHOP (International House Of Pancakes) and changed its corporate identity after it acquired Applebee's.[1] On July 16, 2007, IHOP Corp. announced its intent to acquire the bar-and-grill chain Applebee's International, Inc. in an all-cash transaction, valued at approximately US$2.1 billion. Under the deal, IHOP paid $25.50 per share for Applebee's. IHOP stated it would franchise most of Applebee's 500 company-owned stores. Applebee's has 1,943 restaurants overall worldwide, including those operated by franchisees.[2]
Julia Stewart, who originally worked as a waitress at IHOP and worked her way up through the restaurant industry, became Chief Executive Officer of IHOP Corp. She had previously been President of Applebee’s, but left after being overlooked for that company's CEO position. She became CEO of IHOP in 2001, and returned to manage her old company due to the acquisition. [3]
With a larger than 70% vote, Applebee's stockholders approved the takeover, which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer, the chain's largest individual shareholder, Applebee's director Burton "Skip" Sack plans to take IHOP to court to demand a higher amount of money to be paid to him as the purchasing price that IHOP is giving is unfair to the shareholders of Applebee's. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was undertaken.[4]
DineEquity, Inc., incorporated in 1976, is engaged in the development, operation and franchising of International House of Pancakes (IHOP) restaurants. The Company owns, operates and franchises two restaurant concepts in the casual dining and family dining categories: Applebee's Neighborhood Grill and Bar, and IHOP. The franchise operations segment consists of 1,609 restaurants operated by Applebee's franchisees in the United States, one United States territory and 15 countries outside of the United States. The company restaurant operations segment consists of 398 company-operated restaurants in the United States and one company-operated restaurant in China. The franchise operations segment consists of 1,443 restaurants operated by IHOP franchisees and area licensees in the United States, two United States territories and two countries outside of the United States. The company restaurant operations segment consists of 12 company-operated restaurants in the United States and one restaurant reacquired from a franchisee that was operated by IHOP on a temporary basis until refranchised on January 4, 2010.
Applebee's
The Company develops, franchises and operates restaurants in the bar and grill segment of the casual dining category of the restaurant industry under the name Applebee's Neighborhood Grill & Bar. The Company has 73 franchise groups, including 31 international franchisees. As of December 31, 2009, there were 1,470 domestic franchise restaurants. During 2009, 18 domestic franchise restaurants opened, 25 domestic franchise restaurants closed and seven company-operated restaurants were franchised. The Company focuses on international franchising primarily in Canada, Mexico, Central and South America, and the Mediterranean/Middle East. It has 31 international franchisees. As of December 31, 2009, these franchisees operated 139 Applebee's restaurants. During 2009, 15 international franchise restaurants were opened, while four international franchise restaurants were closed.
The Company competes with Chili's, T.G.I. Friday's and Ruby Tuesday's.
IHOP
The Company develops, franchises and operates restaurants in the family dining category of the restaurant industry under the names IHOP and International House of Pancakes. As of December 31, 2009, there were a total of 1,456 IHOP restaurants, of which 1,279 were subject to franchise agreements, 164 were subject to area license agreements and 13 were company-operated restaurants. Franchisees and area licensees are independent third parties who are licensed by it to operate their restaurants using its trademarks, operating systems and methods, and offer a range of entrees, appetizers, desserts and non-alcoholic beverages specified by IHOP, including its pancakes. The Company owns and operates 10 IHOP restaurants in the Cincinnati market. It also operates two IHOP Cafe restaurants. IHOP restaurants are located in all 50 states of the United States, in the District of Columbia, and internationally in Canada, Mexico, Puerto Rico and the United States Virgin Islands.
The Company competes with Denny's, Cracker Barrel Old Country Store, Bob Evans Restaurants, and Perkins Restaurant and Bakery.
On July 9, 2009 DineEquity, Inc. announced the appointment of Mr. Daniel J. Brestle to the Company's Board oflll Directors, the Board's Compensation Committee and as an independent director. Currently, DineEquity has eleven Board members, including Brestle.
"Brestle recently served as vice chairman and president of Estee Lauder Companies Inc. North America, a position he retired from in June 2009 after spending more than 30 years in leadership positions within the Lauder organization and its family of brands."
OVERALL
Beta: 2.38
Market Cap (Mil.): $971.90
Shares Outstanding (Mil.): 18.46
Annual Dividend: --
Yield (%): --
FINANCIALS
DIN.N Industry Sector
P/E (TTM): -- 21.97 13.77
EPS (TTM): -399.78 -- --
ROI: -0.10 2.07 1.32
ROE: -83.49 2.74 2.19
Name Age Since Current Position
Stewart, Julia 55 2006 Chairman of the Board, President, Chief Executive Officer
Tierney, John 58 2009 Chief Financial Officer
Archer, Michael 50 2008 President - Applebee's Business Unit
Birch, Jean 51 2009 President - IHOP Business Unit
Adel, Bryan 48 2010 Senior Vice President - Legal, General Counsel, Secretary
Kalvin, Greggory 51 2009 Senior Vice President, Corporate Controller
Jakubek, John 57 2008 Senior Vice President - Human Resources
Dahl, Richard 59 2010 Lead Independent Director
Nahas, Caroline 62 1992 Independent Director
Gordon, Michael 75 1987 Independent Director
Kay, Larry 64 2010 Independent Director
Christie, H. Frederick 77 1992 Independent Director
Rose, Patrick 69 1992 Independent Director
Ray, Gilbert 66 2004 Independent Director
Berk, Howard 46 2009 Independent Director
Brestle, Daniel 65 2009 Independent Director
COMPANY ADDRESS
DineEquity Inc
450 North Brand Boulevard
7th Floor
Glendale CA 91203
Julia Stewart, who originally worked as a waitress at IHOP and worked her way up through the restaurant industry, became Chief Executive Officer of IHOP Corp. She had previously been President of Applebee’s, but left after being overlooked for that company's CEO position. She became CEO of IHOP in 2001, and returned to manage her old company due to the acquisition. [3]
With a larger than 70% vote, Applebee's stockholders approved the takeover, which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer, the chain's largest individual shareholder, Applebee's director Burton "Skip" Sack plans to take IHOP to court to demand a higher amount of money to be paid to him as the purchasing price that IHOP is giving is unfair to the shareholders of Applebee's. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was undertaken.[4]
DineEquity, Inc., incorporated in 1976, is engaged in the development, operation and franchising of International House of Pancakes (IHOP) restaurants. The Company owns, operates and franchises two restaurant concepts in the casual dining and family dining categories: Applebee's Neighborhood Grill and Bar, and IHOP. The franchise operations segment consists of 1,609 restaurants operated by Applebee's franchisees in the United States, one United States territory and 15 countries outside of the United States. The company restaurant operations segment consists of 398 company-operated restaurants in the United States and one company-operated restaurant in China. The franchise operations segment consists of 1,443 restaurants operated by IHOP franchisees and area licensees in the United States, two United States territories and two countries outside of the United States. The company restaurant operations segment consists of 12 company-operated restaurants in the United States and one restaurant reacquired from a franchisee that was operated by IHOP on a temporary basis until refranchised on January 4, 2010.
Applebee's
The Company develops, franchises and operates restaurants in the bar and grill segment of the casual dining category of the restaurant industry under the name Applebee's Neighborhood Grill & Bar. The Company has 73 franchise groups, including 31 international franchisees. As of December 31, 2009, there were 1,470 domestic franchise restaurants. During 2009, 18 domestic franchise restaurants opened, 25 domestic franchise restaurants closed and seven company-operated restaurants were franchised. The Company focuses on international franchising primarily in Canada, Mexico, Central and South America, and the Mediterranean/Middle East. It has 31 international franchisees. As of December 31, 2009, these franchisees operated 139 Applebee's restaurants. During 2009, 15 international franchise restaurants were opened, while four international franchise restaurants were closed.
The Company competes with Chili's, T.G.I. Friday's and Ruby Tuesday's.
IHOP
The Company develops, franchises and operates restaurants in the family dining category of the restaurant industry under the names IHOP and International House of Pancakes. As of December 31, 2009, there were a total of 1,456 IHOP restaurants, of which 1,279 were subject to franchise agreements, 164 were subject to area license agreements and 13 were company-operated restaurants. Franchisees and area licensees are independent third parties who are licensed by it to operate their restaurants using its trademarks, operating systems and methods, and offer a range of entrees, appetizers, desserts and non-alcoholic beverages specified by IHOP, including its pancakes. The Company owns and operates 10 IHOP restaurants in the Cincinnati market. It also operates two IHOP Cafe restaurants. IHOP restaurants are located in all 50 states of the United States, in the District of Columbia, and internationally in Canada, Mexico, Puerto Rico and the United States Virgin Islands.
The Company competes with Denny's, Cracker Barrel Old Country Store, Bob Evans Restaurants, and Perkins Restaurant and Bakery.
On July 9, 2009 DineEquity, Inc. announced the appointment of Mr. Daniel J. Brestle to the Company's Board oflll Directors, the Board's Compensation Committee and as an independent director. Currently, DineEquity has eleven Board members, including Brestle.
"Brestle recently served as vice chairman and president of Estee Lauder Companies Inc. North America, a position he retired from in June 2009 after spending more than 30 years in leadership positions within the Lauder organization and its family of brands."
OVERALL
Beta: 2.38
Market Cap (Mil.): $971.90
Shares Outstanding (Mil.): 18.46
Annual Dividend: --
Yield (%): --
FINANCIALS
DIN.N Industry Sector
P/E (TTM): -- 21.97 13.77
EPS (TTM): -399.78 -- --
ROI: -0.10 2.07 1.32
ROE: -83.49 2.74 2.19
Name Age Since Current Position
Stewart, Julia 55 2006 Chairman of the Board, President, Chief Executive Officer
Tierney, John 58 2009 Chief Financial Officer
Archer, Michael 50 2008 President - Applebee's Business Unit
Birch, Jean 51 2009 President - IHOP Business Unit
Adel, Bryan 48 2010 Senior Vice President - Legal, General Counsel, Secretary
Kalvin, Greggory 51 2009 Senior Vice President, Corporate Controller
Jakubek, John 57 2008 Senior Vice President - Human Resources
Dahl, Richard 59 2010 Lead Independent Director
Nahas, Caroline 62 1992 Independent Director
Gordon, Michael 75 1987 Independent Director
Kay, Larry 64 2010 Independent Director
Christie, H. Frederick 77 1992 Independent Director
Rose, Patrick 69 1992 Independent Director
Ray, Gilbert 66 2004 Independent Director
Berk, Howard 46 2009 Independent Director
Brestle, Daniel 65 2009 Independent Director
COMPANY ADDRESS
DineEquity Inc
450 North Brand Boulevard
7th Floor
Glendale CA 91203