The Cheesecake Factory Incorporated (NASDAQ: CAKE) today announced it has entered into an exclusive licensing agreement with Alsea, S.A.B. de C.V., a leading restaurant operator in Latin America, to build and operate The Cheesecake Factory® restaurants.
The Cheesecake Factory Incorporated (NASDAQ: CAKE) today announced it has entered into an exclusive licensing agreement with Alsea, S.A.B. de C.V., a leading restaurant operator in Latin America, to build and operate The Cheesecake Factory® restaurants. The agreement provides for the development of a minimum of 12 restaurants over an eight-year period throughout Mexico and Chile with the potential to expand the agreement to four other countries—Argentina, Brazil, Colombia and Peru. The first restaurant is expected to open in Mexico City by early fiscal 2014.
“Following the extremely successful introduction in 2012 of The Cheesecake Factory® restaurants in the Middle East, we are pleased to announce the continuation of our global growth strategy with another proven operator. International development is a significant growth vehicle for us, with excellent opportunities in Mexico, Chile and other Latin American countries. Our agreement with Alsea further strengthens our ability to deliver on our earnings per share growth objectives and enhance shareholder value,” said David Overton, Chairman and CEO.
About The Cheesecake Factory Incorporated
The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept. The Company operates 177 full-service, casual dining restaurants throughout the U.S., including 162 restaurants under The Cheesecake Factory® mark; 14 restaurants under the Grand Lux Cafe® mark; and one restaurant under the RockSugar Pan Asian Kitchen® mark. Internationally, three The Cheesecake Factory® restaurants operate under a licensing agreement. The Company also operates two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 70 varieties of quality cheesecakes and other baked products.
About Alsea, S.A.B. de C.V.
Alsea is a leading restaurant operator in Latin America of global leading brands in the quick service, coffee shop and casual dining segments. It has a diversified portfolio, with brands such as Domino’s Pizza, Starbucks, Burger King, Chili’s, California Pizza Kitchen, P.F. Chang’s, Pei-Wei and Italianni’s. At the end of 2012, Alsea operated 1,421 units in Mexico, Argentina, Chile and Colombia with more than 27,600 employees. Alsea’s shares are traded on the Mexican Stock Exchange under the ticker symbol ALSEA*.