The Cheesecake Factory Inc. today inked an exclusive licensing agreement to develop a minimum of 14 restaurants over the next decade in Hong Kong, Macau, Taiwan and the People's Republic of China, with an opportunity to expand to Japan, South Korea, Malaysia, Singapore and Thailand.
The first eatery under the agreement with Maxim's Caterers Ltd., a Hong Kong-based operator of full- and quick-service restaurants, bakeries and coffee shops in Asia, is expected to open in fiscal 2015.
"Our brand has experienced a tremendous level of success outside of the U.S.A. and we are excited to announce another step forward in our global expansion efforts, said Cheesecake Factory Chairman and CEO David Overton.
"Our strategy of entering into license agreements with highly qualified, experienced restaurant operators that have broad geographic capabilities is proving to be an excellent way to expand our complex, high- volume concept internationally," he said. "The agreement with Maxim's provides an incredible opportunity for us to develop in Asia with an established, multi-unit restaurant operator that has nearly 60 years of operating experience in the region."
The company operates 181 full-service restaurants throughout the U.S. and Puerto Rico, including 169 eateries under The Cheesecake Factory mark; 11 under the Grand Lux Cafe moniker; and one under the RockSugar Pan Asian Kitchen name.
Internationally, four restaurants operate under a licensing agreement. The company also operates two bakery production facilities in Calabasas Hills and Rocky Mount, North Carolina, that produce a variety of cheesecakes and other baked products.
--City News Service