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Business briefs: IHOP buys Applebee's
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(Courtesy photo)
IHOP has agreed to buy the bar-and-grill chain Applebee’s International Inc. for about $1.9 billion in cash. IHOP Corp. (IHP), best known for its blue-roofed pancake restaurants, said Monday that it has agreed to buy the bar-and-grill chain Applebee’s International Inc. (APPB) for about $1.9 billion in cash. IHOP Chief Executive Julia Stewart, a former Applebee’s executive, said once the deal closes, IHOP would revive the Applebee’s brand and plans to turn it into primarily a franchisor. NIKE PROTESTSFactory workers demonstrated outside Nike Inc.’s Indonesian headquarters on Monday, demanding that the shoemaker scrap plans to cut orders from two local suppliers. Workers said 14,000 jobs will be threatened if Nike reduces orders from producers PT Hardaya Aneka Shoes Industry and Nagasakti Paramashoes Industry. Nike said it is increasing manufacturing in Indonesia. |
