Dine Brands to buy Fuzzy's Taco Shop, shares fall

Dine Brands Global

05/12/2022 16:00

** Shares of Applebee's owner Dine Brands Global Inc  DIN.N 
fall 2.2% to $71.34 amid broader market decline  .N 
    ** DIN says it has agreed to acquire Fuzzy's Taco Shop from
Experiential Brands LLC, a wholly owned subsidiary of NRD
Holding Co, for $80 mln in cash
    ** Co says transaction to immediately add to earnings; net
of tax benefits, purchase price about $70 mln
    ** Fuzzy's has 138 franchise- and corporate-owned locations
in 18 states
    ** DIN also says Fuzzy's is expected to generate about ~$230
mln in systemwide sales in 2022
    ** YTD, stock down ~6%
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com;))