The Cheesecake Factory Incorporated (NASDAQ: CAKE) 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.