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Cheesecake Factory Acquiring Fox Restaurant Concepts, North Italia in $440M Deal
Calabasas Hills, CA-based The Cheesecake Factory Incorporated is acquiring Fox Restaurant Concepts (FRC) and the remaining interest in North Italia in a deal valued at $441 million. The combined company is expected to be an experiential dining category leader with nearly $3 billion in pro forma 2020 revenues.
The Cheesecake Factory’s David Overton says, “We realized 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 organization.”
The transactions will be completed for $308 million in cash at closing. An additional $45 million over the next four years. The deals are expected to close by the end of fiscal Q3 2019. The Cheesecake Factory made an initial $88-million investment in the 20-location North Italia and Flower Child in 2016. FRC operates 45 restaurants across the U.S.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


