New Agency to Provide Broadcast, Creative and Strategic Planning Services; Media Planning and Buying Responsibilities Unchanged
GLENDALE, CA--(Marketwire - December 12, 2007) - IHOP (NYSE: IHP), one of America's favorite restaurants for breakfast, lunch and dinner, announced today that after a thorough review it has awarded VitroRobertson responsibility for the restaurant chain's creative advertising. The decision was made upon the conclusion of a closed review, with a limited number of agencies, to determine future strategies of the Company's advertising efforts. IHOP retained Ark Advisors, LLC as a consultant for the review. Media planning and buying responsibilities are unchanged. Universal-McCann is IHOP's agency of record for national media and will continue to serve in this capacity.
VitroRobertson will be responsible for broadcast creative and strategic planning. The account will be serviced by the Agency's San Diego office, with access to a broad range of resources through the unique MDC Partners agency network.
"Our current advertising resonates with our guests and has played a significant role in our 19 consecutive quarters of sales-store sales growth," said Carolyn O'Keefe, IHOP's senior vice-president of marketing. "Working with VitroRobertson, we'll continue to drive sales by evolving the current 'Come hungry. Leave happy' campaign to a new level of success."
"Over the last few years we have seen management reenergize the IHOP brand," remarked John Vitro, co-founder and partner, VitroRobertson. "IHOP has a rich heritage, is loved by consumers, and we look forward to building upon their record of success."
About VitroRobertson and MDC Partners
VitroRobertson is a mid-size, full service agency, located in San Diego with a proven track record of quickly contributing to the growth of a company's business. All of its clients are national and/or international brands headquartered from Los Angeles to Atlanta to Kansas City to Scotland and Japan. Agency of record clients include: ASICS, Cobra Golf, Yamaha Water Craft, Newcastle Brown Ale, Taylor Guitars, Kyocera Wireless, and Bolle/Serengeti eyewear.
VitroRobertson is also an MDC Partner Agency. MDC is a different kind of agency network, dedicated to helping sell more products to more customers for more value more efficiently. The MDC portfolio is best-in-class marketing communications companies whose strategic and innovative solutions lead the marketing industry, attract the finest talent, and achieve outstanding results for clients.
MDC Partners fosters the entrepreneurial spirit of their Partner firms by encouraging creativity and autonomy.
About IHOP Corp.
IHOP Corp. owns, franchises and operates the IHOP family restaurant chain and recently completed the acquisition of Applebee's International, Inc., the owner, franchisor and operator of the Applebee's chain of neighborhood restaurants and bars. IHOP restaurants have been serving a wide variety of breakfast, lunch and dinner selections for nearly 50 years.
Offering 14 types of pancakes as well as omelettes, breakfast specialties, burgers, sandwiches, salads, chicken and steaks, IHOP's diverse menu appeals to people of all ages. IHOP restaurants are franchised and operated by Glendale, California-based IHOP Corp. As of September 30, 2007, the end of IHOP's third quarter, there were 1,328 IHOP restaurants in 49 states, Canada, Mexico and the U.S. Virgin Islands. IHOP Corp. common stock is listed and traded on the NYSE under the symbol "IHP." For more information, call the Company's Restaurant Support Center at (818) 240-6055 or visit the Company's Web site located at www.ihop.com.
There are forward-looking statements contained in this news release. They use such words as "may," "will," "expect," "believe," "plan," or other similar terminology, and include statements regarding the strategic and financial benefits of the acquisition of Applebee's International, Inc., expectations regarding integration and cost savings, and other financial guidance. These statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different than those expressed or implied in such statements. These factors include, but are not limited to: the implementation of IHOP's strategic growth plan; the availability of suitable locations and terms for the sites designated for development; the ability of franchise developers to fulfill their commitments to build new restaurants in the numbers and time frames covered by their development agreements; legislation and government regulation including the ability to obtain satisfactory regulatory approvals; risks associated with executing IHOP's strategic plan for Applebee's; risks associated with IHOP's incurrence of significant indebtedness to finance the acquisition; the failure to realize the synergies and other perceived advantages resulting from the acquisition; costs and potential litigation associated with the acquisition; the ability to retain key personnel after the acquisition; conditions beyond IHOP's control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting IHOP's customers or food supplies or acts of war or terrorism; availability and cost of materials and labor; cost and availability of capital; competition; continuing acceptance of the IHOP, International House of Pancakes and Applebee's brands and concepts by guests and franchisees; IHOP's and Applebee's overall marketing, operational and financial performance; economic and political conditions; adoption of new, or changes in, accounting policies and practices; and other factors discussed from time to time in IHOP's and Applebee's news releases, public statements and/or filings with the Securities and Exchange Commission, especially the "Risk Factors" sections of IHOP's and Applebee's Annual and Quarterly Reports on Forms 10-K and 10-Q. Forward-looking information is provided by IHOP Corp. pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these factors. In addition, IHOP disclaims any intent or obligation to update these forward-looking statements.