Cheesecake Factory thinks Sam Fox may be onto something with his North Italia and Flower Child restaurants.
The California-based chain, with 193 Cheesecake Factory restaurants scattered throughout the United States and Puerto Rico, has become a minority equity partner in the two concepts with Fox and will provide ongoing capital for Fox Restaurant Concepts to grow the concepts, according to a report this week in Nation's Restaurant News.
According to the agreement, Fox will continue with daily operations of the restaurants and Cheesecake Factory has the option to acquire majority or full ownership in either or both.
“North Italia and Flower Child are such exciting brands within our family," Fox, the Tucson native and founder of Fox Restaurants Concepts, told Nation's Restaurant News. “After spending a good amount of time with (Cheesecake Factory chairman and CEO David Overton) and his team, it became very clear to me that we share the same values in terms of our commitment to delivering amazing food and hospitality to our guests, while also recognizing that our team members are our greatest asset.”
The Cheesecake Factory deal is similar to the one P.F. Chang's owner Centerbridge Partners had with Fox for True Food Kitchen, the Andrew Weill-inspired healthful food restaurant Fox launched in Phoenix in 2008. Centerbridge took over the concept in 2012; it now has 15 locations mostly in California and five set to open in the next 18 months.
In early 2015, Fox sold his fast-casual Sauce Pizza and Wine Bar concept to Scott Kilpatrick and Todd Belfer, founders of the Ra Sushi chain. There are four Sauce locations in Tucson including at 7117 N. Oracle Road in the Casas Adobes Plaza, next to Fox's flagship restaurant Wildflower.
Sauce has 14 locations throughout the state.
