- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- Analysis: APEC Nations Back Face-Saving Climate Plan
- Shift Into High-Quality Stocks Could Move Market Higher
- Drug Study Questions Effectiveness of Merck's Drugs
- Military Arms Race Dominates Dubai Air Show
- Buffett: I Haven't Bought AMEX Shares in Years
- Disaster Film '2012' Drowns Rivals at Box Office
- Cities With the Most Home Price Reductions
- Cramer: 5 Earnings Reports to Watch Next Week
MOST SHARED
- U.S. May Wind Up Green With Envy
- Warren Buffett to CNBC: 'I Haven't Bought American Express In Years'
- Japan Third Quarter GDP Jumps; 2010 Growth May Slow
- Analysis: APEC Nations Back Face-Saving Climate Plan
- Disaster Film '2012' Drowns Rivals at Box Office
- The Cost of Thanksgiving Dinner 2009
- For Investors, The New Green Looks To Be White
- Dipping Into Green Investing
- Sustainability Indices Sprouting Up
- Stronger Yuan Needed for Global Rebalancing: IMF Chief

![]() |
IHOP, which franchises nearly all of its restaurants, plans to franchise a majority of Applebee’s 508 company-operated restaurants.
Stewart said brand differentiation through the menu, service and advertising will build brand loyalty.
“We believe we have an opportunity to re-energize the brand and get franchisees, employees and guests all sort of thinking about the brand in a different way,” Stewart said Monday. “Obviously, we have opportunities to find points of differentiation – things that no one has but Applebee’s – and I think the future is very bright.”
She said the deal will be largely funded by securitizing Applebee’s royalty income stream and other operations.
“The large majority of this transaction is being funded through Applebee’s, if you will, through a securitization,” Stewart said. “Of the $2.1 (billion), the large majority of it is through a securitization through them and a small second series of securitization through our own debt, about $175 million, and then some short notes. It’s really largely through using their securitization structure that we’re going to put into play and because we recently did one of those at IHOP, we feel very comfortable that we can do that in short order. When you think of a securitization, it’s securitizing (Applebee’s) royalty income stream as well as their company operations.”
She said IHOP doesn’t plan to make additional acquisitions anytime soon.
“Right now, we’ve got our hands full,” Stewart said.
- Where, what, how.
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.









