Have you ever wondered who owns PF Chang’s? Among various top-class restaurants, PF Chang’s is one of the best-known brands. The restaurant chain is known for its American Chinese cuisine, which includes a variety of other Asian specialties. So, who owns it?
A company named TriArtisan Capital Partner is currently the owner of PF Chang’s. The Centerbridge Partners private investment firm offered to acquire PF Chang’s restaurant chain in 2012 for huge money. Later in 2019, Centerbridge Partners sold PF Chang’s to TriArtisan Capital Partner for $700 million.
Before we dig deeper into the question, let’s find out more about the brand.
What is PF Chang’s?
PF Chang’s is a unique American-based restaurant chain that offers delicious American Chinese cuisines. This Asian-themed restaurant chain was founded 29 years ago, in 1993, in Arizona by Paul Fleming and Philip Chiang.
The restaurant chain’s name, “PF Chang’s,” is taken from its founders, Paul Fleming and Philip Chiang. The first PF Chang’s restaurant opened in Scottsdale, Arizona. They also introduced their Home Menu in supermarkets in the year 2010.
PF Chang’s specializes in American Chinese dishes. They also offer tempting Asian cuisines. Currently, PF Chang’s operates more than 200 locations in the United States and 100+ worldwide under license agreements.
Who Owns PF Chang’s?
TriArtisan Capital Partner is the current owner of PF Chang’s. In 2012, a private investment firm, Centerbridge Partners, offered PF Chang’s a considerable amount to acquire the restaurant chain. The deal closed at $1.1 billion.
ConAgra Foods, Inc, an American consumer packaged goods holding company, acquired the Home Menu of the PF Chang’s in August 2012.
In 2019, the pandemic year, PF Chang’s was sold by Centerbridge Partners to TriArtisan Capital Partners and Paulson & Co. for $700 million.
At present, the owner of PF Chang’s is TriArtisan Capital Advisors, Paulson & Co., an American investment management firm. The best of the main courses by PF Chang’s include Fire Braised Short Ribs, Mongolian Beef, etc.
After changing its partnership accounting, Chang’s did not restate its financial results for prior years until March 15, 2004. The company adopted a new lease accounting standard on March 17, 2005, Following Generally Accepted Accounting Principles.
In short, PF Chang’s is an American-based restaurant chain having a presence worldwide. It was founded by its amazing owners, Paul Fleming and Philip Chiang, in 1993.
Since its foundation, PF Chang’s has offered delicious American Chinese cuisines and is counted by many food lovers as their favorite restaurant. The delicious menu of PF Chang’s includes a range of mouth-watering dishes.
Unique items on their menu include Chang’s Spicy Chicken, Chang’s Lettuce Wraps, Peking Duck, and different kinds of sushi. Their most popular appetizers include Shishito Peppers, Edamame, and Tempura Calamari.