Doherty Enterprises Inc. Expands Restaurant Portfolio In New York With Acquisition Of 21 Applebee's Restaurants formerly Owned By Apple Metro; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Doherty Enterprises, Inc. has acquired 21 Applebee's restaurants in the New York City metro area from Apple Metro, expanding its restaurant franchise portfolio. The acquisition increases Doherty's total to 160 franchise restaurants, including Applebee's, Panera Bread, and Chevys Fresh Mex, and ranks it 25th in the Top 200 Franchisees in the U.S. by Restaurant Finance Monitor. Current employees of the acquired restaurants will be offered jobs with Doherty, ensuring a smooth transition for both staff and guests.
January 18, 2024 | 1:37 pm
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Doherty Enterprises' acquisition of 21 Applebee's restaurants from Apple Metro could potentially have a positive impact on Dine Brands Global, Inc. (DIN), as it may lead to increased franchise fees and royalties from a larger number of Applebee's locations operated by a significant franchisee.
The acquisition of additional Applebee's restaurants by a major franchisee like Doherty Enterprises is likely to result in increased franchise fees and royalties for Dine Brands Global, which owns the Applebee's brand. This expansion in a significant market like New York City could lead to higher revenues for DIN in the short term, assuming the new locations perform well and contribute positively to the brand's overall financial health.
CONFIDENCE 80
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RELEVANCE 70