IHOP Corp. Agrees to Buy 23 JB’s Restaurants

IHOP Corp., the Glendale-based parent of the International House of Pancakes restaurant chain, said it has reached a preliminary agreement to buy 23 JB’s Restaurants in Oregon and Washington for about $4.5 million.

IHOP said it expected to complete the purchase within 60 days and convert those restaurants to the IHOP format six months later. IHOP said that after the purchase, it would operate 16 restaurants in Oregon and 19 in Washington. As of June 30, IHOP had 505 restaurants in its system, with 49 of those run by the company and the rest operated as franchises or under area licenses.