M&A Rumors: A PF Chang’s Acquisition May Be in the Works
Recent rumors claim that a PF Chang’s acquisition may be in the works.
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According to these rumors, TriArtisan Capital Advisors is considering the PF Chang’s acquisition. The rumors claim that the company is looking to pay $700 million for the Chinese food restaurant chain.
This rumor claims that TriArtisan Capital Advisors is currently in talks with lenders about obtaining the funds for the P.F. Chang’s acquisition. The firm has yet to comment on the rumors and an inside source, who remains anonymous due to the private nature of the talks, says the deal may not go through.
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If TriArtisan Capital Advisors really is interested in a PF Chang’s acquisition, it will be paying Centerbridge Partners for the company. Centerbridge Partners bought PF Chang’s back in 2012 in a $1.10-billion deal including Pei Wei Asian Diner. However, those two brands are now separate from each other.
The idea of Centerbridge Partners selling off PF Chang’s to TriArtisan Capital Advisors isn’t far-fetched at all. It brought in Bank of America and Barclays back in June 2018 to work on just such a matter, reports Bloomberg.
It also wasn’t just that Centerbridge Partners was looking to offload PF Chang’s. Back when it announced plans to explore the sale of the restaurant chain, a spokesman for the firm said that it had already received “multiple unsolicited indications of interest,” for the business.
PF Chang’s operates 220 locations in the U.S. and another 80 locations around the world.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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