Cheesecake Factory To Buy Fox Restaurant Concepts, North Italia - Quick Facts

(RTTNews) - The Cheesecake Factory Inc. (CAKE) has reached agreements to acquire Fox Restaurant Concepts and the remaining interest in North Italia. The combined company is anticipated to have nearly $3 billion in pro forma 2020 revenues. Excluding integration expenses, Cheesecake Factory expects the acquisitions to be approximately neutral to EPS in fiscal 2020 and accretive thereafter.

The Cheesecake Factory will acquire the remaining interest in the North Italia concept for approximately $130 million. This brings total consideration to $174 million, including $44 million previously invested in the North Italia concept. The concept has 20 locations.

The Cheesecake Factory will acquire Fox Restaurant Concepts for approximately $178 million, and $45 million due over the next four years, resulting in total consideration, of $267 million including the previous investment in Flower Child. FRC currently operates 45 restaurants.