Agreement Plans for 5 Restaurants in 6 Years with First Restaurant Expected to Open in Moncton, New Brunswick Later This Year
(Glendale, CA; March 29, 2019) Dine Brands International, Inc., franchisor of IHOP® restaurants, is celebrating its 50th year in Canada with a deal to bring the brand and its world-famous offering of pancakes, breakfast items and other delicious entrees to the North Atlantic provinces for the first time.
An agreement with a principal of the Corey Craig Group calls for five restaurants within the next six years in the provinces of New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland and Labrador, with the first restaurant planned to open in Moncton during the fourth quarter of 2019.
The Corey Craig Group, which has over 45 years of experience in the franchised restaurant business, starting as one of the original franchisees for Tim Horton’s. That group has also been a franchisee of Wendy’s for over 15 years.
“IHOP truly became an International House of Pancakes in 1969 when the first restaurant outside of the U.S. opened in New Westminster, BC and over the next five decades, we were privileged to bring the IHOP experience to new cities and provinces in Canada,” said Steve Joyce, President, International and Chief Executive Officer, Dine Brands Global, Inc. “What better way to mark our 50th anniversary in this great country than by being able to say we are now in Canada from sea to shining sea?”
“We are looking forward to expanding our presence in Canada, which has always been an important market for IHOP, both financially and sentimentally,” said William Urrego, Regional Vice President and General Manager, Dine Brands Global. “We also know we couldn’t be in better hands than with Gary O’Neill on this key expansion to the East Coast. He brings a wealth of experience, success and a solid corporate structure that will be instrumental in the brand’s success in these provinces.
“With this agreement, we are fulfilling a major goal for our development in Canada,” said Dan Lecocq, Executive Director, International Development, Dine Brands Global. “We are actively seeking similarly qualified franchisees to bring the brand to the Greater Toronto Area and Quebec which represent great opportunities for us.”
Statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those expressed or implied in such statements. You can identify these forward-looking statements by words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “goal” and other similar expressions. You should consider our forward-looking statements in light of the risks discussed under the heading “Risk Factors,” as well as our consolidated financial statements, related notes, and the other financial information appearing elsewhere in our most recent Form 10-K filed with the United States Securities and Exchange Commission and our other filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this report are made as of the date hereof and the Company assumes no obligation to update or supplement any forward-looking statements.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee’s Neighborhood Grill & Bar and IHOP brands. As of December 31,2018, with approximately 3,700 restaurants combined in 18 countries and approximately 380 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.
ABOUT INTERNATIONAL HOUSE OF PANCAKES, LLC
For 60 years, IHOP has been a leader, innovator and expert in all things breakfast, any time of day. The chain offers 65 different signature, fresh, made-to-order breakfast options, a wide selection of popular lunch and dinner items as well as meals under 600 calories. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. As of December 31, 2018, there were 1,831 IHOP restaurants around the world, including restaurants in all 50 states and the District of Columbia, Puerto Rico and Guam as well as Canada, Mexico, Guatemala, Panama, Lebanon, the Kingdom of Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar, Thailand and India. IHOP restaurants are franchised by affiliates of Glendale, Calif.-based Dine Brands Global. (NYSE: DIN).