Argonne group nabs 148 more IHOPs in FMS buyout

ATLANTA An affiliate of Argonne Capital Group, based here, has acquired FMS Management Systems Inc., the largest area licensee of IHOP, with 148 restaurants owned, operated and sub-franchised throughout Florida and southern Georgia. Terms were not disclosed.

North Miami Beach-based FMS’s assets and development rights are now held by Sunshine Restaurant Partners LLC, which intends to retain FMS’ management team.

FMS generated an estimated $189 million

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