News

Pei Wei goes south of the border

October 17, 2011

P.F. Chang's China Bistro Inc. announced it has signed an exclusive development and licensing agreement with Alsea, S.A.B. de C.V., a quick-service restaurant, coffee shop and casual dining operator in Latin America, to develop Pei Wei Asian Diner throughout Mexico.

The agreement stipulates the opening of three restaurants during the first 18 months but provides an option for a long-term contract with a commitment to open 50 restaurants over 10 years. The first location should open in the next few months in Mexico City.

"We are extremely excited about the expansion of Pei Wei to international markets," said Mike Welborn, executive vice president and president of Global Brand Development for P.F. Chang's China Bistro Inc. "Alsea has already been very successful in bringing P.F. Chang's to Mexico, and they are well positioned to achieve the same success with Pei Wei's fast casual model. We look forward to working with them to extend the Pei Wei brand."

Alsea currently operates eight P.F. Chang's restaurants in Mexico under an exclusive development and licensing agreement signed in 2009 to develop 30 P.F. Chang's restaurants throughout Mexico over 10 years. In 2011, Alsea also entered into an exclusive development and licensing agreement to develop 17 P.F. Chang's restaurants throughout Argentina, Chile and Colombia over the next 10 years.