Cheesecake Factory to hit Asia

US fast casual restaurant chain The Cheesecake Factory has partnered with Hong Kong-based Maxim’s Caterers to open in Asia.

The partners have agreed to develop 14 restaurants over the next 10 years in Hong Kong, Macau, Taiwan and mainland China, with the opportunity to expand to Japan, South Korea, Malaysia, Singapore and Thailand. The first restaurant is expected to open within fiscal 2015.

“The agreement with Maxim’s provides an incredible opportunity for us to develop in Asia with an established, multi-unit restaurant operator with nearly 60 years of operating experience in the region,” said David Overton, The Cheesecake Factory chairman and CEO.

“International expansion will become an increasingly meaningful driver to achieving our goal of delivering mid-teens earnings per share growth over time as the number of restaurants operated by our licensees gradually increases,” he added.

The Cheesecake Factory created the upscale casual dining segment in 1978 with the introduction of its namesake concept. It operates 181 full-service, casual dining restaurants throughout the US and Puerto Rico, including 169 restaurants under The Cheesecake Factory mark; 11 restaurants under the Grand Lux Cafe mark; and one restaurant under the RockSugar Pan Asian Kitchen mark.

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