Tag Archives: Leveraged Buyout

P.F. Chang’s Subject To Leveraged Buyout

By Judy Chamberlain

In what will be the largest leveraged buyout of a restaurant chain since the 2010 transaction that brought a $4.2 billion price tag to Burger King holdings, P .F. Chang’s China Bistro is scheduled to be taken private in mid-June when private equity firm Centerbridge Partners pays P. F. Chang’s shareholders $51.50 a share in a  $1.1 billion deal.

The chain, founded by Paul Fleming chef Philip Chiang, first opened in Scottsdale, Arizona, in 1993, offering Western-influenced Asian food at reasonable prices. It owns numerous company stores in the United States and sells licensing agreements in international markets. Fast-casual Pei Wei’s Asian Diner, which originated in Dallas, is part of the mix.    Continue reading

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