The Cheesecake Factory Announces Plans for Third Bakery Production Facility

Rhea-AI Summary

The Cheesecake Factory has acquired a 37-acre site in Charlestown, Indiana to develop its third bakery production facility. The facility will produce cheesecakes and bakery products for the company's restaurants and other wholesalers, retailers, and distributors. The company plans to support its domestic and international growth with this new facility.

Positive

• The acquisition of the new site in Charlestown, Indiana will allow The Cheesecake Factory to expand its production capacity and support its domestic and international growth.
• The new bakery production facility will provide distribution efficiencies for the company, which could positively impact its revenue and profitability in the future.

Negative

• None.

New Site Acquired in Charlestown, Indiana

CALABASAS HILLS, Calif.--(BUSINESS WIRE)-- The Cheesecake Factory Incorporated (NASDAQ: CAKE) today announced that it has acquired a 37 acre site in Charlestown, Indiana where it plans to develop its third bakery production facility. Once constructed, the facility will produce The Cheesecake Factory’s world-famous cheesecakes and signature bakery products for its restaurants and other foodservice wholesalers, retailers and distributors, in addition to providing anticipated distribution efficiencies for the Company.

“We are very pleased to locate our new bakery production facility in Charlestown, Indiana,” said David Overton, Founder, Chairman and CEO of The Cheesecake Factory Incorporated. “This year is the 51^st anniversary of my parents opening the first Cheesecake Factory Bakery, and it also marks the 45^th anniversary of opening our first restaurant in Beverly Hills. Over the last half century our desserts have developed a reputation around the world, and we are so pleased that we’ll have a third bakery production facility to support our domestic and international growth into the future.”

The Company worked closely with the River Ridge Development Authority to complete the land acquisition within the River Ridge Commerce Center and will continue to work collaboratively as it transitions into the next phases of the project beginning next year. “The River Ridge Commerce Center has been very receptive, and we were happy to come to an agreement. We look forward to being part of the local community and generating new employment opportunities in the area,” said Overton.

“This commitment by The Cheesecake Factory to bring its bakery production facility to River Ridge is a major moment for the commerce center and exemplifies the investment and rapid growth we’re creating on the Charlestown side of River Ridge,” said Jerry Acy, River Ridge Development Authority Executive Director. “It is truly a pleasure working with David Overton and his team at The Cheesecake Factory, and I am proud of what this partnership brings to Southern Indiana and the region.”

About The Cheesecake Factory Incorporated

The Cheesecake Factory is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. Delicious, memorable experiences created by passionate people – this defines who we are and where we are going. We currently own and operate 324 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia® and a collection within our Fox Restaurant Concepts business. Internationally, 31 The Cheesecake Factory® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. In 2023, we were named to the FORTUNE Magazine "100 Best Companies to Work For®" list for the tenth consecutive year. To learn more, visit www.thecheesecakefactory.com, www.northitalia.com and www.foxrc.com.

From Fortune ©2023 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 100 Best Companies to Work For are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, The Cheesecake Factory Incorporated.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, the anticipated benefits of the third bakery production facility and ongoing work related to the bakery project. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements, including risks that the project may be disrupted or delayed and factors impacting anticipated distribution efficiencies. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. Forward-looking statements speak only as of the dates on which they were made. The Company undertakes no obligation to update publicly or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements contained in the Company’s filings with the Securities and Exchange Commission, which are available at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025300952/en/

Investors

The Cheesecake Factory Incorporated

Etienne Marcus

818-871-3000

investorrelations@thecheesecakefactory.com

Media

Berk Communications

Brooke Levine / Gabrielle Gaines

732-735-5982 / 917-991-8354

cheesecake@berkcommunications.com

Source: The Cheesecake Factory Incorporated

FAQ

What is The Cheesecake Factory planning to develop in Charlestown, Indiana?

The Cheesecake Factory plans to develop its third bakery production facility in Charlestown, Indiana.

What products will be produced at the new facility?

The new facility will produce The Cheesecake Factory's world-famous cheesecakes and signature bakery products.

How will the new facility support the company's growth?

The new facility will support the company's domestic and international growth by providing distribution efficiencies and expanding production capacity.