TL;DR
Pei Wei Asian Diner has been sold to PWD Acquisition LLC for an undisclosed amount, adding to PWD's portfolio of quick-service Asian concepts. PWD Acquisition LLC owns 165 stores in 23 states, including Pick Up Stix, Leeann Chin, and Mandarin Express.
It was announced today that PWD Acquisition LLC has purchased Pei Wei Asian Diner for an undisclosed amount, according to QSR Magazine .
Based in California and owned by Lorne Goldberg, PWD reportedly owns 165 stores in 23 states. Pei Wei will contribute to its portfolio of other quick-service Asian concepts, including Pick Up Stix, Leeann Chin and Mandarin Express.
According to QSR, Pei Wei split from P.F. Chang’s China Bistro in 2017. TriArtisan Capital Advisors LLC and Paulson & Co. Inc. purchased P.F. Chang’s in March of this year for a rumored $700 million.
Emily Clouse is a staff writer for 1851 Franchise. Her work has been featured with publications such as The Onion, Reductress, and Chicago Magazine. She graduated from The Ohio State University before running away to join the Peace Corps. In her free time, she enjoys drawing and walking to Jewel-Osco.
In this story
This story was originally published in 1851 Franchise on June 5, 2019. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.