The pancake chain IHOP made it official on Sunday; it is purchasing Applebee's, a chain of family-style restaurants.
According to the Wall Street Journal, the deal has been made official, with IHOP buying Applebee's for $2.2 billion. This deal will create a huge chain of well over 3,000 restaurants.
It is unknown at the time whether this move will cause some IHOP and/or Applebee's locations to close. It is possible that this will happen, as family-style restaurant chains have been doing poorly of late, with some Applebee's (including ones in Newton and Braintree) shutting down recently.
More information can be found at the Wall Street Journal Web site. Below is a link to the story:
