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Sunday, March 7, 2021

Irving-based Pei Wei acquired by PWD Acqusition

PWD Acquisition LLC has acquired the parent company of Irving-based Pei Wei Asian Diner LLC from affiliates of Centerbridge Partners L.P., a private investment firm, for an undisclosed sum.

PWD Acquisition LLC is owned and managed by Lorne Goldberg who also owns and operates the quick service Asian restaurant concepts Pick Up Stix, Leeann Chin and Mandarin Express, with approximately 165 stores in 23 states.

Pei Wei, a fast casual Asian restaurant concept, operates 167 company-owned stores and 26 franchised locations in 19 states and South Korea, with approximately 4,000 employees.

BofA Merrill Lynch acted as financial advisor to Centerbridge. Weil, Gotshal & Manges LLP and Polsinelli PC served as legal counsel to Centerbridge and Pei Wei.

Brookwood Associates acted as financial advisor for PWD Acquisition. Greenberg Glusker Fields Claman & Machtinger LLC served as legal counsel for PWD Acquisition.

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