trending Market Intelligence /marketintelligence/en/news-insights/trending/5GRBqz-nty96zd3DL9wmMw2 content esgSubNav
In This List

Report: TriArtisan, Paulson reach deal to acquire P.F. Chang's

Blog

Japan M&A By the Numbers: Q1 2022

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Global M&A by the Numbers: Q2 2022


Report: TriArtisan, Paulson reach deal to acquire P.F. Chang's

TriArtisan Capital Advisors LLC and Paulson & Co. Inc. are acquiring P.F. Chang's China Bistro Inc. in a deal scheduled to close in the first quarter, Bloomberg Markets reported, citing a private notice sent to investors.

Centerbridge Partners LP, which has owned P.F. Chang's since 2012, was earlier reported to be closing in on a deal to sell the Chinese restaurant chain to fellow private equity firm TriArtisan for about $700 million.

P.F. Chang's debt totaling more than $675 million will be taken out at par as part of the transaction. Pei Wei Asian Diner, another restaurant chain that spun off from P.F. Chang's, reportedly will remain under Centerbridge's ownership.

Bank of America Merrill Lynch was lead financial adviser to P.F. Chang's on the deal, with Barclays acting as additional financial adviser, the report said.

Representatives for P.F. Chang's, TriArtisan and Paulson did not immediately respond to requests for comment, according to Bloomberg.