PHOENIX — It’s been just over six years since The Cheesecake Factory acquired Phoenix-based Fox Restaurant Concepts for more than $350 million, and the company’s executives are claiming it to be one of the best restaurant M&A deals in history.
Cheesecake (Nasdaq: CAKE) executives were asked on the company’s fourth quarter earnings call on Wednesday how they felt about FRC's contribution to the larger business, and CFO Matt Clark had nothing but good things to say.
“We’re really pleased with the overall performance of the business unit out of Phoenix,” Clark said. “All of the lines of business are meeting or exceeding our expectations. And I think we'll all look back on this being one of the most successful restaurant acquisitions.”
