Cheers

Cheers

The Beverage Business Magazine for Full-Service Restaurants and Bars

  • Beverage Trends
    • Beer
    • Wine
    • Spirits
    • Wine Reviews
    • Marketing
    • Operations
  • Recipes
    • What I’m Drinking Now
    • Submit a Drink Recipe
  • Resources
    • eRNDC Login
    • SG Proof Login
    • CORE: Children of Restaurant Employees
  • Events & Awards
    • Cheers Beverage Summit
    • Growth Brands
    • BevX Awards
    • Supplier Awards
  • Podcasts
  • E-News
    • E-News Subscribe
  • Digital Issues
  • Cheers@Home

The Cheesecake Factory Acquiring Fox Restaurant Concepts

08/01/2019

by: Melissa Dowling

Upscale, casual-dining The Cheesecake Factory has agreed to acquire Fox Restaurant Concepts and the remaining interest in the North Italia brand. The chain, which will pay $308 million in cash at closing for Fox and an additional $45 million during the next four years, says that the deal will reinforce its leadership position in experiential dining.

The Cheesecake Factory, founded in 1978, previously invested $88 million in Fox’s North Italia and Flower Child concepts in 2016. It will acquire the remaining interest in the North Italia concept for about $130 million in cash, bringing total consideration to $174 million, including $44 million previously invested. North Italia, a modern Italian upscale, casual-dining concept, currently has 20 locations in nine states and Washington D.C.

Sam Fox founded Fox Restaurant Concepts in 1998 with the opening of Wildflower in Tucson, AZ. The Phoenix-based company today includes Flower Child, Culinary Dropout, Blanco and The Henry, with a team of over 5,000 employees in more than 60 locations (including North Italia) across the U.S. It will operate as a wholly owned subsidiary, and continue to be led by Sam Fox.

Following the completion of the transactions, North Italia’s operations will be located at The Cheesecake Factory corporate headquarters in Calabasas Hills, CA, to help scale the concept nationally. Through its subsidiaries, The Cheesecake Factory owns and operates 219 restaurants throughout the U.S., including Puerto Rico, and Canada, comprised of 202 locations of its namesake concept; 14 Grand Lux Cafes; two RockSugar Southeast Asian Kitchens; and one Social Monk Asian Kitchen.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pinterest (Opens in new window)

Last modified: 08/01/2019

Previous Story:
CMO Lee Applbaum Exiting Bacardi
Next Story:
Sarah Jessica Parker’s Wine Hitting Shelves in September

About the Author: Melissa Dowling

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Follow Us

Facebook
Twitter

In The News

  • Firebirds Bought By Investment Firm
  • World’s Longest Bar Opens in Tennessee
  • White Claw Launches Vodka Line
  • Pernod Ricard Buying Skrewball
  • Lux Row Introduces Rebel 100 Rye Whiskey
  • The Kraken Launches Gold Spiced Rum
More News >>

Featured Drink

  • Off Beat
    Off Beat cocktail form Bar Bastion in New York

Drink Recipes

  • Off Beat
  • 10 Spring Cocktails For 2023
  • Cottontail Daiquiri
  • Unique Irish Coffee Experiences
  • Pinch of Green

Current Issue

Cheers Current Issue

Cheers Magazine

  • About Cheers
  • Advertise
  • Contact Us
  • Subscribe
  • Market Research

Events & Awards

  • Beverage Excellence Awards
  • Cheers Beverage Summit
  • Growth Brands Awards

Magazines

  • Cheers
  • Beverage Dynamics
  • StateWays
  • Beverage Wholesaler
  • Beverage Handbooks (research)

E-Newsletters

  • Better Bartending
  • Cheers
  • Beverage Dynamics
  • StateWays
  • Beverage Wholesaler
  • Beverage Universe
  • Cannabis Regulator
  • About EPG Brand Acceleration
  • Send File
  • Privacy Policy
© Cheers Magazine. All rights reserved.