The Cheesecake Factory makes acquisitions


August 1, 2019 | By RetailME Bureau

American restaurant chain, The Cheesecake Factory Incorporated is all set to acquire Fox Restaurant Concepts and the remaining interest in North Italia, to reinforce its position in experiential dining.

“Since making our initial minority investments in North Italia and Flower Child in 2016, we have not only helped fuel the growth of both brands, but also developed a deep relationship with Sam Fox at Fox Restaurant Concepts,” said David Overton, chairman and CEO of The Cheesecake Factory Incorporated. “We realised the true potential of this relationship as we worked through the integration process for our planned acquisition of North Italia. It became evident that the combination of two of the most experiential and entrepreneurial restaurant companies could drive greater value as one organisation.”

“In turn, we have decided to bring together North Italia and Fox Restaurant Concepts, including Flower Child, with The Cheesecake Factory to reinforce our leadership position in experiential dining. With the power of The Cheesecake Factory brand, infrastructure and growth potential, complemented by an additional growth vehicle in the North Italia concept and an incubation engine to develop concepts of the future, we believe we will be even better positioned to provide our guests with exceptional dining experiences, offer growth opportunities for our respective teams and maximise long-term value for our shareholders. We look forward to continuing to work with Sam to expand the businesses.”

Meanwhile, The Cheesecake Factory reported total revenues worth $602.6 million in the second quarter of fiscal 2019, compared to $587.3 million in the second quarter of fiscal 2018.

In the Middle East, Kuwait-based retail conglomerate MH Alshaya holds the franchise rights for The Cheesecake Factory.

To read more:

https://investors.thecheesecakefactory.com/news-and-events/news-releases/news-release-details/2019/The-Cheesecake-Factory-to-Acquire-Fox-Restaurant-Concepts-and-Remaining-Interest-in-North-Italia/default.aspx

https://investors.thecheesecakefactory.com/news-and-events/news-releases/news-release-details/2019/The-Cheesecake-Factory-Reports-Results-for-Second-Quarter-of-Fiscal-2019/default.aspx

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /


Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau
Koita

Homegrown, organic and plant milk company, Koita has announced its expansion into 

Continue Reading

December 9, 2020 | By RetailME Bureau
Middle East's vegan revolution

Today’s on-demand streaming services are ripe with docu-series and explainer videos on 

Continue Reading

December 3, 2020 | By Shruthi Nair




Download Images RetailME Magazine