News

Pei Wei sold to owner of several QSR chains

June 5, 2019

PWD Acquisition Llc. has acquired the parent company of Pei Wei Asian Diner Llc. from affiliates of Centerbridge Partners for an undisclosed sum, according to a company press release.

PWD's owner, Lorne Goldberg, also owns the quick service Asian restaurant concepts Pick Up Stix, Leeann Chin and Mandarin Express, which total 165 stores in 23 states.

Pei Wei has 167 company-owned stores and 26 franchised locations in 19 states and South Korea, with about 4,000 employees.

BofA Merrill Lynch acted as financial adviser to Centerbridge. Weil, Gotshal & Manges Llp., and Polsinelli PC served as legal counsel to Centerbridge and Pei Wei. Brookwood Associates acted as financial adviser for PWD Acquisition. Greenberg Glusker Fields Claman & Machtinger Llc. served as legal counsel for PWD Acquisition.