Doherty Enterprises announced it has acquired 21 Applebee’s restaurants located throughout the New York City metro area. The deal marks a significant strategic move, as Doherty expands its footprint in the restaurant franchise market. The Allendale, NJ-based company has been an Applebee’s franchisee since 1993, and today owns and operates 104 Applebee’s restaurants in New York, New Jersey, Florida, and Georgia. Through this acquisition, Doherty now ranks 25th in Top 200 Franchisees in the United States by Restaurant Finance Monitor with a portfolio of 160 franchise restaurants across New York, New Jersey, Florida, and Georgia including Applebee’s, Panera Bread, and Chevys Fresh Mex. They additionally own two restaurant concepts, Shannon Rose Irish Pub and Spuntino Wine Bar, and operate a combined four restaurants under these two brands.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DIN:
- Doherty Enterprises Inc. Expands Restaurant Portfolio in New York with Acquisition of 21 Applebee’s® Restaurants formerly owned by Apple Metro
- Dine Brands price target raised to $64 from $60 at Barclays
- Bloombin’, Dine Brands among stocks to play small-cap rally, Barron’s says
- Ex-Dividend Date Nearing for These 10 Stocks – Week of December 18, 2023
- Dine Brands price target raised by $2 at KeyBanc, here’s why
