Glendale, Calif. — IHOP® has expanded its franchisee portfolio with the addition of Suncakes, LLC, led by Guillermo Perales, through the acquisition of 41 IHOP restaurants. The restaurants, located in Tennessee, North Carolina, Virginia and South Carolina, were previously owned and operated by CFRA Holdings and its affiliates and transferred to Suncakes, LLC in July 2020. Financial details of the deal will not be disclosed.
The 41 locations represent the first IHOP restaurants managed by Sun Holdings, Inc. Sun has one of the largest restaurant franchisee portfolios in the U.S. with more than 1,000 locations under its ownership.
“As the owner and operator of multiple iconic brands, Suncakes’ investment in IHOP reinforces the strength of our franchise opportunity and the future viability of our business,” says Jay Johns, president of IHOP. “We are thrilled to welcome Guillermo and the Suncakes team to the IHOP family and are confident that their immense industry and brand expertise will undoubtedly yield success.”
As of July 29, 2020, there were 1,841 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, Inc.
Sun Holdings, Inc. was founded in 1997 by Guillermo Perales, starting with one Golden Corral unit, and funded by an SBA loan. Since then, Sun Holdings Inc. has developed a portfolio that operates 1,000 locations in eight states creating more than 22,000 jobs. It has also developed over 200 stores and completed 200 remodels in the last 3 years. Today, the organization manages 239 Burger King, 165 Popeyes, 92 Arby’s, 12 Golden Corral, 20 Cici’s Pizza, 136 T-Mobile, 135 Taco Bueno, 52 McAlister’s and 56 GNC locations, as well as several airport locations.
SOURCE: IHOP