Dine Brands International Continues Global Expansion with First Applebee’s® Restaurant Franchisee Deal in India; Restaurant Opening Planned for Late 2020
GLENDALE, Calif.--(BUSINESS WIRE)--Jan 31, 2020--
Dine Brands International today announces plans for the first Applebee’s restaurant opening in Bengaluru, India scheduled to open in late 2020 through an agreement with Rohit Malhotra and Jayaprakash Mutharayappa, which also calls for a minimum of an additional nine Applebee’s restaurant openings in India over the next seven years.
“We are excited to open our first Applebee’s restaurant later this year in Bengaluru and believe India is an important growth market for Dine Brands,” said Steve Joyce, CEO and President, International, Dine Brands Global, Inc.
“As one of the world’s fastest growing economies, we believe India represents a great opportunity for Applebee’s and we think Indian guests will love our local as well as Western tastes, hand-made to order menu items and signature cocktail bar,” added Joyce.
“We are proud to be the newest Applebee’s international franchisee – we have both been life-long customers of Applebee’s, and we look forward to introducing Applebee’s delicious food, outstanding beverages, along with their quality service and great value, to people throughout India,” said Rohit Malhotra, CEO, and Jayaprakash Mutharayappa, Chairman, Dine Brands International Franchisees.
Dine Brands International continues to place emphasis on growth in markets including the Middle East, Asia and Latin America. For more information on international franchise opportunities, click here.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee’s Neighborhood Grill + Bar and IHOP brands. With approximately 3,640 restaurants combined in 19 countries and territories. Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.
Statements contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. These factors include, but are not limited to: general economic conditions; our level of indebtedness; compliance with the terms of our securitized debt; our ability to refinance our current indebtedness or obtain additional financing; our dependence on information technology; potential cyber incidents; the implementation of restaurant development plans; our dependence on our franchisees; the concentration of our Applebee’s franchised restaurants in a limited number of franchisees; the financial health our franchisees; our franchisees’ and other licensees’ compliance with our quality standards and trademark usage; general risks associated with the restaurant industry; potential harm to our brands’ reputation; possible future impairment charges; the effects of tax reform; trading volatility and fluctuations in the price of our stock; our ability to achieve the financial guidance we provide to investors; successful implementation of our business strategy; the availability of suitable locations for new restaurants; shortages or interruptions in the supply or delivery of products from third parties or availability of utilities; the management and forecasting of appropriate inventory levels; development and implementation of innovative marketing and use of social media; changing health or dietary preference of consumers; risks associated with doing business in international markets; the results of litigation and other legal proceedings; third-party claims with respect to intellectual property assets; our ability to attract and retain management and other key employees; compliance with federal, state and local governmental regulations; risks associated with our self-insurance; natural disasters or other series incidents; our success with development initiatives outside of our core business; the adequacy of our internal controls over financial reporting and future changes in accounting standards; and other factors discussed from time to time in the Company’s Annual and Quarterly Reports on Forms 10-K and 10-Q and in the Company’s other filings with the Securities and Exchange Commission. The forward-looking statements contained in this release are made as of the date hereof and the Company does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200130005938/en/
CONTACT: Susan Nelson
Vice President, Communications
Dine Brands Global, Inc.
KEYWORD: UNITED STATES INDIA NORTH AMERICA ASIA PACIFIC CALIFORNIA
INDUSTRY KEYWORD: RETAIL RESTAURANT/BAR
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PUB: 01/31/2020 12:21 AM/DISC: 01/31/2020 12:21 AM