Argonne Capital buys 40 Applebee’s units

Argonne Capital buys 40 Applebee’s units

Locations sold by Atlanta-based franchisee led by Applebee’s brand founder, Bill Palmer

Private-investment firm Argonne Capital Group LLC has purchased 40 Applebee’s restaurants in the Atlanta area from Apple Restaurants Inc., a franchise group operated by Applebee’s founder Bill Palmer, Argonne officials said Friday.

Atlanta-based Argonne, which last year founded franchise group Neighborhood Restaurant Partners LLC, will retain Palmer as the group’s chief executive.

Terms of the sale were not disclosed.

Argonne, through affiliates, is a

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