PF Chang's Owner: Reveared in This Brief Report

Who owns PF Chang's?

P.F. Chang's China Bistro is an American-based, casual dining restaurant chain founded in 1993 by Paul Fleming and Philip Chiang that serves Asian fusion cuisine. Centerbridge Partners owned and operated Chang's until acquired by the private equity firm TriArtisan Capital Advisors on March 2, 2019. P.F. Chang's is headquartered in Scottsdale, Arizona. The chain specializes in American Chinese cuisine, plus other Asian dishes. P.F. Changs operates 300 locations in 22 countries and U.S. airports, including P.F. Changs To Go takeout locations. The name "P. F. Chang's" is derived from those of Paul Fleming (P. F.) and Philip Chiang (whose surname was simplified to Chang).

History

The chain was founded in 1993 by Paul Fleming and Philip Chiang - son of restaurateur Cecilia Chiang. The first restaurant was opened at the Scottsdale Fashion Square in Scottsdale, Arizona. In 1993, P.F. Chang's China Bistro, Inc. was formed from the acquisition of the original four bistro restaurants.

In 2010, "P.F. Chang's Home Menu" was introduced in supermarkets. The brand represents a group of frozen appetizers and meals that were sold under license by Unilever. In 2012 Chang's accepted an offer from private investment firm, Centerbridge Partners in a deal valued at $1.1 billion. ConAgra Foods, Inc. acquired the P.F. Chang's Home Menu license from Unilever in August 2012.

In 2015, P.F. Chang's filed for bankruptcy for its Canadian division. In December 2017, Chang's announced that they would open a location in Shanghai during the first part of 2018, Chang's first location in China. In January 2019, Chang's announced it was in talks to be sold to TriArtisan Capital.