Under the terms of the agreements, the restaurant company is making an initial minority equity investment and will provide ongoing growth capital for the burgeoning concepts. However, FRC will continue to manage the day-to-day operations of the two restaurants. The Cheesecake Factory does have the option for a future majority stake in either or both concepts.
Established in 2002 with nine locations in five states currently, North Italia focuses on Italian, from-scratch cooking in an upscale, full-service, casual dining space. Fast-casual Flower Child, established in 2014, has five locations in three states and offers a customizable menu featuring locally sourced, all natural and organic ingredients for build-your-own salads, plates, bowls and wraps.
Fox Restaurant Concepts continues to grow as a restaurant group, featuring 16 unique concepts and 53 restaurants spanning eight states with more than 4,000 employees.