Financing

Sun Holdings buys 131 Applebee’s locations

It’s the second major deal for the Dallas-based franchisee, which is buying out one of the casual dining chain’s largest operators.
Applebee's sale
Photograph: Shutterstock

Sun Holdings, just weeks after announcing a deal to get into the Papa John’s system, is now getting into casual dining.

The Dallas-based mega-franchisee, which owns Burger King, Arby’s, Popeyes and Taco Bueno, has acquired 131 Applebee’s locations from Acon Investments.

Terms of the deal were not disclosed, but the restaurants had been owned by RMH Franchise Corp., the chain’s second-largest operator. RMH had filed for bankruptcy in 2018, which triggered a court battle with Applebee’s franchisor Dine Brands Global that RMH ultimately won.

John Peyton, CEO of Dine Brands, revealed the transaction in a presentation with investors on Thursday. He said the deal was “another signal of Applebee’s strong performance.”

Dine Brands reported Thursday that Applebee’s same-store sales were up 12.5% on a two-year basis.

Sun Holdings, meanwhile, appears to be in a new gear. The company operates more than 1,000 restaurants in the U.S. and in 2019 acquired the Mexican chain Taco Bueno.

The operator, owned by Guillermo Perales, signed a 100-unit development deal for Papa John’s in Texas. His company also operates McAlister’s Deli locations along with both GNC and T-Mobile stores.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

Big restaurant chains get aggressive on unit growth

The Bottom Line: Yum Brands, McDonald’s and Domino’s are all making a big push to accelerate growth. Most of it will come outside the U.S. But they have domestic plans, too.

Financing

Chris Kempczinski changes his tune on restaurant automation

The Bottom Line: While noting that humans will continue to drive restaurants, the McDonald’s CEO notes that the calculus on automation gets closer as labor costs soar.

Emerging Brands

Mamahuhu hopes to spark 'third wave' that builds on legacy of Chinese-American mom and pops

Chef Brandon Jew takes on the fast-casual challenge of scaling quality food at an accessible price in a Panda Express-dominated segment. But you won't find Chrysanthemum Salad at Panda Express.

Trending

More from our partners