Dine Brands Global Continues Asia Expansion with Deal to Bring IHOP® Restaurants to Pakistan
GLENDALE, Calif. & KARACHI, Pakistan--(BUSINESS WIRE)--Mar 18, 2019--Dine Brands Global Inc. has announced a deal with several principals of Gerry’s Group, a leading Pakistan-based logistics and Food and Beverage group, to bring the IHOP brand to the Islamic Republic of Pakistan.
The deal calls for 19 IHOP locations throughout the country over the next 9 years, 9 of which will be franchised by the principals of Gerry’s Group with the other ten sub-franchised. The first location is expected to open in Karachi by the end of 2019 and continues the brand’s expansion into the Asia Pacific market. IHOP, which was founded in 1958, has been a global brand since 1969. IHOP already has a presence in India, Thailand and Guam as well as 11 other countries and Puerto Rico
“My commitment as CEO of Dine Brands Global was to return it to a growth company, and our international development is certainly a major component of that growth,” said Steve Joyce, Chief Executive Officer, Dine Brands Global, franchisor of IHOP ® and Applebee’s Grill + Bar ® restaurants. “Key to our international strategy is identifying and entering new markets, such as Pakistan, that have a rapidly growing economy, are contiguous to existing markets to offer an economy of scale, and above all, have an appetite for IHOP’s unique guest experience of warm hospitality with world famous pancakes, breakfast and other menu items.
“The opportunity to partner with principals from Gerry’s Group as franchisees was also a major factor in our decision,” Joyce continued. “Under their ownership, Gerry’s Group is an experienced, established company based in Pakistan with multinational experience across a broad number of industries as well as Food and Beverage, including operating and owning 40 Costa Coffee locations in the United Kingdom.”
“The principals of Gerry’s Group bring a strong track record of success with global brands. They bring an infrastructure—and the shared values and commitment to excellence—that will be key to introducing IHOP in this exciting new country for us,” said Gary Moore, Regional Vice President and General Manager, Asia Pacific and the Middle East, Dine Brands Global.
“We are delighted to be bringing the world famous American IHOP experience to our country and to our portfolio of successful companies,” said Akram Wali Muhammad, Managing Director for Gerry’s Group. “While IHOP will be a new brand in Pakistan, there is already significant awareness of and excitement about IHOP and we look forward to the opening of our first location later this year.”
Asia Pacific has been targeted as a key area of growth for Dine Brands, along with Latin America, Canada and the Middle East. The company has already signed deals to bring the IHOP brand to South America in 2019 in Peru and Ecuador, and to expand its presence in Canada to Atlantic provinces of New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador.
Dine Brands is also actively exploring opportunities to bring the IHOP brand to the United Kingdom.
“We have had a lot of interest in Pakistan from potential franchisees and while it fits perfectly with our expansion strategy in the region, we wanted to be sure we found the strongest partner in the country to take that step,” said Dan Lecocq, Executive Director, International, Development, Dine Brands Global, Inc. “Gerry’s Group brings exactly the qualities and qualifications we look for in every franchisee as we look to continue our expansion here and in our other international areas of opportunity.”
Statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. You can identify these forward-looking statements by words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. You should consider our forward-looking statements in light of the risks discussed under the heading “Risk Factors,” as well as our consolidated financial statements, related notes, and the other financial information appearing elsewhere in our most recent Form 10-K filed with the United States Securities and Exchange Commission and our other filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this report are made as of the date hereof and the Company assumes no obligation to update or supplement any forward-looking statements.
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. As of December 31, 2018, with approximately 3,700 restaurants combined in 18 countries and approximately 380 franchisees, 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.
ABOUT INTERNATIONAL HOUSE OF PANCAKES, LLC
For 60 years, IHOP has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers 65 different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items as well as meals under 600 calories. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of December 31, 2018, there were 1,831 IHOP restaurants around the world, including restaurants in all 50 states and the District of Columbia, Puerto Rico and Guam as well as Canada, Mexico, Guatemala, Panama, Lebanon, the Kingdom of Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar, Thailand and India. IHOP restaurants are franchised by affiliates of Glendale, Calif.-based Dine Brands Global. (NYSE: DIN).
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CONTACT: Craig Hoffman
KEYWORD: UNITED KINGDOM UNITED STATES EUROPE ASIA PACIFIC NORTH AMERICA CALIFORNIA PAKISTAN IRELAND
INDUSTRY KEYWORD: RESTAURANT/BAR RETAIL FOOD/BEVERAGE
SOURCE: Dine Brands Global Inc.
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PUB: 03/18/2019 07:00 AM/DISC: 03/18/2019 07:01 AM