IHOP: Difference between revisions
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With a larger than 70% vote, the company approved the takeover which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, stated he planned to take IHOP to court to demand a higher amount of money to be paid to him because the purchasing price that IHOP offered is unfair to the shareholders of Applebee's. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was intended.<ref>{{cite web|url=http://online.wsj.com/article/SB119376561362776405.html?mod=dist_smartbrief|title=IHOP's Tall Order: Reviving Applebee's}}</ref> The takeover successfully closed on November 29, 2007,<ref>{{cite web|url=http://www.bizjournals.com/kansascity/stories/2007/11/26/daily32.html?jst=b_ln_hl|title=IHOP completes purchase of Applebee's}}</ref> and the corporate entity IHOP changed its name to [[DineEquity]] on May 28, 2008.<ref>{{cite web|url=http://online.wsj.com/article/BT-CO-20080528-704889.html?mod=LOD-RES|title=IHOP Changes Name To DineEquity >IHP}}</ref> |
With a larger than 70% vote, the company approved the takeover which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, stated he planned to take IHOP to court to demand a higher amount of money to be paid to him because the purchasing price that IHOP offered is unfair to the shareholders of Applebee's. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was intended.<ref>{{cite web|url=http://online.wsj.com/article/SB119376561362776405.html?mod=dist_smartbrief|title=IHOP's Tall Order: Reviving Applebee's}}</ref> The takeover successfully closed on November 29, 2007,<ref>{{cite web|url=http://www.bizjournals.com/kansascity/stories/2007/11/26/daily32.html?jst=b_ln_hl|title=IHOP completes purchase of Applebee's}}</ref> and the corporate entity IHOP changed its name to [[DineEquity]] on May 28, 2008.<ref>{{cite web|url=http://online.wsj.com/article/BT-CO-20080528-704889.html?mod=LOD-RES|title=IHOP Changes Name To DineEquity >IHP}}</ref> |
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''''''Consumption of pancakes from IHOP may result in obesity. Be careful! WHOA MATT DUNBAR WHAT IS THAT IN UR MOUTH.... I TOLD U TO NEVER GIVE A RIM JOB AGAIN!'''''' |
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==References== |
==References== |
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Revision as of 17:23, 16 March 2010
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| Company type | Subsidiary |
|---|---|
| Industry | Restaurants |
| Founded | 1958 |
| Founders | Jerry and Al Lapin, Jr. |
| Headquarters | Glendale, California, U.S. |
Key people | Julia Stewart (CEO) Jean Birch (President) |
| Products | Breakfast foods Pancakes • Waffles • French Toast Lunch • Dinner • Sandwiches |
| Revenue |  $349.6 million USD (2006)[1] |
| $72.8 million USD (2006)[1] | |
| $44.5 million USD (2006)[1] | |
Number of employees | 32,300 (2007)[1] |
| Parent | DineEquity |
| Website | http://www.ihop.com |
The International House of Pancakes (IHOP) is a United States-based restaurant chain that specializes in breakfast foods and is owned by DineEquity. While IHOP's focus is on breakfast foods such as pancakes, waffles, French toast and omelettes, it has evolved into also offering a menu of lunch and dinner items. The chain has 1398 restaurants in all 50 states, Canada, Mexico and Puerto Rico. Eleven are corporate-owned; 157 are operated under area licenses.
History
Jery Lapin, Al Lapin and Albert Kallis founded The International House of Pancakes in 1958 with the help of Sherwood Rosenberg and William Kaye. The first restaurant opened on July 7, 1958, in Toluca Lake, Los Angeles, California.[2] Since then, locations have been opened all over the United States, in the Canadian province of British Columbia and in the Mexican cities of Monterrey, Tampico, Querétaro and Mexico City. It also announced on October 23, 2006, that it is expanding into the province of Ontario as well. IHOP is headquartered in Glendale, California. The company uses "IHOP" as its primary name, though they still use "International House of Pancakes" as a secondary name.
Service, Style and Menu
Each table has its own sugar boat and four flavors of syrup dispensers: blueberry, boysenberry, butter pecan, and strawberry. Boysenberry is being phased out in many restaurants, replaced by plain, "old-fashioned" pancake syrup.[citation needed] There is also service of warm artificially maple-flavored corn syrup, brought out with every meal with pancakes/waffles. Recently, a major change was introduced in its core menu in an attempt to become more than just a breakfast restaurant. A while ago, Country Griddle Cakes disappeared from the menu, replaced by "Corn Cake Pancakes". Recently, "Corn Cake Pancakes" were replaced with "Butterscotch Rocks Pancakes" and "New York Strawberry Cheesecake Pancakes".
The "international" appellation of the chain derives from its three core crepe-style pancakes: "German" (served with powdered sugar and lemon butter with lemon slices), "French" (served with orange marmalade), and "Swedish" (served with lingonberries and lingonberry butter). These fruit-topped crepes are offered with an egg-and-meat plate as the "International Passport Breakfast."[3] Menu offerings such as French toast and Belgian waffles further reinforce the international theme.[citation needed]
Advertising
Recent advertisement campaigns have featured slogans such as "Just For the Fun of It" and "Why not eat breakfast for dinner tonight?". Other ad campaigns have revolved around menu items with Pancake Day. Since 2006, IHOP's National Pancake Day celebration has raised over $1.85 million. In 2008, over 1.5 million pancakes (12 miles high if they were stacked) were given to customers for donations.
Controversies
IHOP has been accused of animal cruelty and food safety threats by the Humane Society of the United States because of the company's exclusive use of eggs from hens confined in small wire cages known as battery cages.[4] A September 2009 undercover video of IHOP's egg supplier documented decomposing hens in cages with live hens, sick and injured hens in cages with other hens, living and dead hens stuck between cage wires, a worker ripping off the head of a live bird, piles of dead hens in the facilities, and unsanitary conditions throughout the operation.[5]
Buyout of Applebee's
On July 16, 2007, IHOP Corp. stated its desire to acquire the bar-and-grill chain Applebee's International, Inc. in an all-cash transaction, valued at approximately US$2.1 billion. Under the deal, IHOP would pay $25.50 per share for Applebee's. IHOP stated it would franchise most of Applebee's 500 company-owned facilities. Applebee's had 1,943 restaurants worldwide at the time, including those operated by franchisees.[6]
With a larger than 70% vote, the company approved the takeover which closed on November 29, 2007. The deal beat 26 other offers to purchase the economically slumping Applebee's. A number of executives from Applebee's voted against the offer. The chain's largest individual shareholder, Applebee's director Burton "Skip" Sack, stated he planned to take IHOP to court to demand a higher amount of money to be paid to him because the purchasing price that IHOP offered is unfair to the shareholders of Applebee's. As part of the purchase, a brand re-marketing scheme and revitalization of the Applebee's image was intended.[7] The takeover successfully closed on November 29, 2007,[8] and the corporate entity IHOP changed its name to DineEquity on May 28, 2008.[9] 'Consumption of pancakes from IHOP may result in obesity. Be careful! WHOA MATT DUNBAR WHAT IS THAT IN UR MOUTH.... I TOLD U TO NEVER GIVE A RIM JOB AGAIN!'
References
- ^ a b c d e Joe Bramhall. "IHOP Corp". Hoovers. Retrieved 2007-11-20.
- ^ "IHOP - History". Retrieved 2007-03-02.
- ^ "Ihop.com".
- ^ "The Humane Society of the United States 2009".
- ^ "COK Undercover Investigation Video".
- ^ "IHOP to Buy Applebee's for About $1.9B".
- ^ "IHOP's Tall Order: Reviving Applebee's".
- ^ "IHOP completes purchase of Applebee's".
- ^ "IHOP Changes Name To DineEquity >IHP".
External links
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