![]() ![]() The combined company became the largest full-service restaurant company in the world, with more than 3,250 locations. The acquisition was completed on November 29, 2007, after which IHOP Corp. Applebee's shareholders would receive $25.50 in cash per share, representing a 4.6% premium to the closing price on July 13, 2007. announced that it agreed to buy Applebee's International for about $2.1 billion. In 1998, Applebee's opened its 1000th restaurant.Ģ007–present: Acquisition by IHOP Former headquarters in Lenexa, Kansas (now called Restaurant Support Center) In the 1990s, Applebee's became one of the largest sit-down restaurant chains in the United States, and it began trading publicly in November 1991. In 1989, Applebee's opened their 100th restaurant in Nashville, Tennessee. In 1988, Applebee's International, Inc., became the restaurant chain's franchiser when Kansas City franchisees Abe Gustin and John Hamra purchased the rights to the Applebee's concept from W. In 1986, the name of the concept was changed to Applebee's Neighborhood Grill & Bar. He became an Applebee's franchisee in 1985. In that capacity, Palmer guided the operation from its entrepreneurial beginnings to a full-fledged franchise system. As part of the transaction, Bill Palmer was named president of the Applebee's Division, an indirect subsidiary of W. They opened a second location outside of Atlanta, Georgia a few years later, and sold the company to W. They opened their first location in Atlanta, Georgia, at the time named T.J. They also considered "Cinnamon's" and "Pepper's" before arriving at Applebee's. Their vision was "to create a restaurant that had a neighborhood pub feel to it and could offer friendly service along with quality fare at a lower price than most of their competition." The name “Appleby” was their first choice for this concept, but they found that it had already been registered. The Applebee's chain was founded by Bill and T. History 1980–2006: Founding and going public The Applebee's concept focuses on casual dining, with mainstream American dishes such as salads, chicken, pasta, burgers, and " riblets" (Applebee's signature dish). is an American company that develops, franchises, and operates the Applebee's Neighborhood Grill + Bar restaurant chain.
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