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Applebee’s Parent Buys Fuzzy’s Taco Shop

Multiconcept operator Dine Brands Global will add another restaurant chain to its portfolio by acquiring Fuzzy’s Taco Shop from Experiential Brands. Applebee’s parent company will pay $80 million in cash to NRD Holding Company for the 138-unit fast-casual chain. NRD bought a majority stake in Fuzzy’s in 2016.

Company projections indicate Fuzzy’s will generate $230 million in sales systemwide in 2022, per a release announcing the deal. And 98% of Fuzzy’s current system is franchised. Founded in Texas in 2003, Fuzzy’s current leadership team includes CEO Paul Damico, a 35-year veteran of the restaurant industry. Damico joined Fuzzy’s in October of 2021.

“Fuzzy’s Taco Shop is a compelling business with a loyal customer base and a distinct identity. It is an attractive asset with a tremendous growth trajectory and will be a complementary addition to our highly franchised portfolio,” said John Peyton, chief executive officer of Dine Brands. “By adding Fuzzy’s to the Dine Brands family, we are investing in a high growth concept as part of our longer-term growth agenda, which is aligned with our strategy to build shareholder value.”