Applebee’s Franchisee Sells 80 Percent Stake

Bizjournals.com:

AppleGrove 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., 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.