DineEquity Inc. said that its IHOP restaurant unit has entered into a licensing agreement to produce and distribute frozen breakfast items that will start out being sold at Walmart stores.
The Glendale company said the new product line, called “IHOP at Home,” leverages the chain’s well-known brand name, but include items not available at its restaurants. The products, which include French Toast Stuffed Pastries, Omelet Crispers and Griddle ‘n Sausage Wraps, will be available initially at 3,000 Walmart locations and eventually expand to other retail outlets.
“IHOP has long been loved for its unique breakfast dishes that can’t be found elsewhere, and IHOP at Home offers busy, on-the-go consumers delicious new choices at the most important meal of the day,” Jean Birch, president of IHOP president, said in a statement.
DineEquity shares were up $1.40, or 2.6 percent, to $56.03 in Thursday midday trading on the New York Stock Exchange.