TriArtisan In Talks to Acquire P.F. Chang’s For As Much As $700 Million

According to a Bloomberg report cited in an article by Nation’s Restaurant News, TriArtisan Capital Advisors LLC is currently in “exclusive talks” to acquire the Asian restaurant brand P.F. Chang’s for up to $700 million from private equity firm Centerbridge Partners L.P.

While no final agreement has been made, sources close to the talks believe that funding is in place, reports the article.

“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,” Steve Silver, global co-head of private equity at Centerbridge, said in a July statement according to the article.

According to P.F. Chang’s website, the brand has over 210 U.S. units and over 95 restaurants in more than 25 countries around the world. The brand saw an estimated $912.9 million in U.S. sales in the fiscal year ended December 2017, which was up from $906.2 million in 2016, according to the most recent NRN Top 200 report cited in the article.

Read the full report here.