Is Pei Wei still owned by PF Chang's?

Pei Wei and P.F. Chang’s: A Shared Past, Separate Paths

It’s a question many casual diners have wondered: Is Pei Wei still owned by P.F. Chang’s? The answer is no—though the two Asian-inspired restaurant chains did start life under the same roof. Originally launched as a sister concept to P.F. Chang’s in 2000, Pei Wei offered a more casual, fast-casual take on Asian cuisine, blending flavors from China, Thailand, and Japan with speed and convenience in mind.

Over time, both brands grew in popularity, carving out loyal customer bases across the U.S. Their shared success didn’t go unnoticed. In 2012, the parent company behind both chains was acquired by Centerbridge Partners, a private equity firm, in a deal worth $1.1 billion—one of the largest restaurant buyouts at the time. This move marked a turning point, not just financially, but structurally.

While they were once siblings under one corporate umbrella, Pei Wei and P.F. Chang’s eventually separated into distinct entities. The acquisition by Centerbridge accelerated this divergence, allowing each brand to pursue its own strategy and identity in a competitive market. Since then, both have continued to evolve—P.F. Chang’s leaning into full-service dining and culinary innovation, while Pei Wei has focused on faster service, digital ordering, and modern convenience.

So while the roots are shared, the paths have split. Today, Pei Wei stands on its own, no longer under the ownership of P.F. Chang’s. Both chains remain active and relevant, a testament to their strong branding and enduring appeal in the American restaurant landscape.