Fox Restaurant Concepts sells to Cheesecake Factory
Phoenix-based restaurant group Fox Restaurant Concepts has sold to The Cheesecake Factory Incorporated, according to a press release issued on Wednesday afternoon.
Cheesecake Factory previously made minority investments in two of Fox Restaurant Concepts’ brands. Now the company will purchase the entire Fox Restaurant Concepts portfolio in a deal that includes $308 million in cash at closing.
Following the finalization of the deal, Fox Restaurant Concepts will operate as “a wholly-owned subsidiary,” the press release states. Founder Sam Fox will continue to lead the company from the headquarters inside The Henry restaurant in Phoenix.
“This partnership will be the first of its kind for the restaurant industry,” Fox is quoted as saying in the release.
“With our aligned cultures and philosophies, The Cheesecake Factory is the right partner to embrace our creative spirit, enabling us to innovate concepts, while providing the infrastructure and capital to scale,” the statement continues.
How Fox Restaurant Concepts started
Fox opened the first Fox Restaurant Concepts concept, Wildflower, in Tucson in 1998. The company currently operates 45 restaurants in seven states and Washington D.C.
The company’s partnership with The Cheesecake Factory began in 2016, when Cheesecake Factory made minority investments in both North Italia and Flower Child.
North Italia, a modern Italian restaurant, got its start when the first location opened in Scottsdale in 2002. The concept currently has 20 locations in nine states and Washington D.C.
Flower Child debuted in 2014 on the northeast corner of 44th Street and Camelback Road. Locations now exist in 10 states including four throughout metro Phoenix.
Other Fox Restaurant Concepts with locations in Phoenix include:
❚ Blanco.
❚ The Henry.
❚ The Arrogant Butcher.
❚ Zinburger. ❚ Olive & Ivy.
❚ Culinary Dropout.
❚ Doughbird.
❚ The Green House.
What’s next for the restaurants
With the new infrastructure and capital investments from Cheesecake Factory, fans can expect to see even more growth from Fox Restaurant Concepts. The restaurant group’s new owners also plan to “capture supply chain, real estate and additional synergies,” according to the press release.
The Cheesecake Factory Incorporated owns and operates 219 restaurants throughout the United States, including Puerto Rico, and Canada. The restaurants include more than 200 locations of The Cheesecake Factory and 14 locations of Grand Lux Cafe.