Applebee's Franchisee Sells 80%

Kansas City Business Journal
http://www.bizjournals.com/kansascity/stories/2008/07/21/daily7.html?b=1216612800%5e1672198

Monday, July 21, 2008 - 4:22 PM CDT Modified: Monday, July 21, 2008 - 4:31 PM
Applebee's franchisee sells 80 percent stakeKansas City Business Journal
Print Email Reprints RSS Feeds Add to Del.icio.us Digg This CommentsAppleGrove Restaurants, the second-largest franchisee of Applebee's Neighborhood Grill & Bar Restaurants, has sold an 80 percent interest in itself to a subsidiary of AmRest Holdings N.V. for an undisclosed amount.

AmRest, based in Poland, is the largest independent quick-service and casual-dining restaurant operator in Central and Eastern Europe, Applebee's International Inc., a subsidiary of DineEquity Inc. (NYSE: DIN), said in a release after the market closed on Monday. AmRest franchises and manages seven restaurant brands in seven countries.

Steve Grove, founder of AppleGrove, remains a minority owner in the company.

Atlanta-based AppleGrove owns and operates more than 100 Applebee's restaurants in eight states.