New Ownership Official For P.F. Chang's
Investment firm Centerbridge Partners and its Wok Parent acquisition arm has successfully completed its tender offer for the outstanding shares of P.F. Chang's. The company now owns more than 83% of the Scottsdale, Ariz., chain, which will become an indirect, wholly owned subsidiary of Wok Parent. P.F. Chang's owns and operates more than 200 upscale P.F. Chang's China Bistro units and nearly 200 counter-service-oriented Pei Wei Asian Diners.