Paulson & Co. Inc., New York, and TriArtisan Capital Advisors LLC, New York, acquired P.F. Chang's China Bistro, Inc., Scottsdale, Ariz., from Centerbridge Partners, L.P., New York.
"We want to thank Centerbridge Partners for their strong support of P.F. Chang's,” says Jim Bell, chief executive officer of P.F. Chang's. “We are fortunate to have a partnership with Paulson and TriArtisan, which will allow us to implement a collaborative growth strategy. Paulson and TriArtisan bring financial strength and expertise that will allow us to grow our dine-in and off-premises channels both domestically and internationally."
Today, the company operates more than 200 company-owned restaurants and over 90 franchised locations globally across 24 countries.
"P.F. Chang's is a highly differentiated, iconic global brand with excellent financial performance and strong growth prospects,” adds John Paulson, founder and president of Paulson. “We are very excited to partner with P.F. Chang's' outstanding management team to drive the business forward."
"We intend to provide the management team with the resources to rapidly scale the business of providing high-quality, contemporary Asian cuisine at a compelling value to our customers worldwide in both the off-premises and dine-in channels," says Rohit Manocha, founding partner of TriArtisan.
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