P.F. Chang’s Restaurant Chain to be Sold


Centerbridge Partners has retained Bank of America Merrill Lynch and Barclays to explore a sale of P.F. Chang’s Bistro.  The chain was acquired in 2012 and has established a position as a market leader among full-service Asian-themed restaurants.  There are 214 locations in the U.S.  with 93 restaurants franchised in 24 nations.


The press release from Centerbridge noted that P.F. Chang’s Bistro locations generate on average sales of $4.1 million annually.


Steve Silver, Global Co-head of Private Equity at Centerbridge commented, “Given the positive performance of P.F. Chang’s Bistro, and having received multiple unsolicited indications of interest, this is an exciting time to explore a sale.”