Glendale, Calif. — DineEquity Inc., the parent company of Applebee's Neighborhood Grill & Bar® and IHOP® concepts, has rebranded itself as Dine Brands Global, Inc. The company also has a new 5-year growth plan, as well as new operational and financial goals.
"Our rebrand to Dine Brands from DineEquity Inc. represents the most recent step in our transformation and our return to growth," says Stephen P. Joyce, chief executive officer of Dine Brands. "Over the past year, we have made targeted changes at both the corporate and brand levels to continue executing on our new strategic plan. We have a strong leadership team in place dedicated to building a high performance, values-based culture, a clear plan to stabilize and grow both brands and a well-defined 5-year growth plan. We are confident we will continue to create significant value for our shareholders and franchisees."
The rebrand to Dine Brands marks a new chapter in the company's story and further builds on the initiatives undertaken to expand revenue channels, enhance the guest experience and improve the long term health of both brands. As part of the significant transformation effort currently underway, the company is focused on three key strategic pillars — people, brands and growth — that underlies its Vision 2022 to deliver sustainable results and strong shareholder returns.
The company also expects 10% margin expansion over the 5-year period. In addition, the company will outline its capital allocation priorities, including increasing free cash flow generation, with significant returns to shareholders. Dine Brands will seek to achieve these goals by executing a strategy based on:
- Strengthening the leadership team: build a high-performance, values-based culture with greater autonomy and accountability for the brands.
- Investing in the existing brands: invest in restaurants, culinary innovation, marketing, training, technology and relevant growth platforms to create greater efficiency at the brand level.
- Strategically expanding the portfolio: partner with existing and new franchisees to expand current brands in underpenetrated markets and internationally; explore 'tuck-in' opportunities to drive long term growth.
- Leveraging technology, data and analytics: enhance the guest experience, drive traffic and increase conversion to a higher average check.
Based in Glendale, Calif., Dine Brands Global, Inc. (formerly DineEquity, Inc.), through its subsidiaries, franchises restaurants under the Applebee's Neighborhood Grill & Bar and IHOP brands. With more than 3,700 restaurants combined in 18 countries and over 380 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information, visit www.dinebrands.com.
SOURCE: Dine Brands Global, Inc.