USA: Applebee's Int to acquire 21 franchise restaurants
Overland Park, Kansas-based Applebee's Int has agreed to acquire the assets of 21 restaurants in the Washington, DC area from its franchisee Apple Capitol Group. The deal, which is worth US$32.8m in cash at closing, also provides for additional payments if the restaurants achieve cash flow in excess of historical levels. The 21 restaurants are located in Maryland, Virginia, Delaware, Pennsylvania and West Virginia.
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