Fast Casual Pei Wei Asian Diner Goes South to Mexico

P.F. Chang's China Bistro has signed an exclusive agreement with Alsea, S.A.B. de C.V. to develop and license the Pei Wei Asian Diner brand exclusively in Mexico. Alsea is a large limited- and full-service foodservice operator in Latin America.

Under the deal, Alsea will build three restaurants in the first 18 months, and can exercise an option to build as many as 50 in ten years. The first Pei Wei Asian Diner has an anticipated opening in the next few months in Mexico City.

Pei Wei, with 173 stores in the United States, makes its first international development deal, following two other well-known Asian-style brands in an expansion south of the U.S. Border.  Panda Express opened a store in September in the Gran Terraza Shopping Mall near Mexico City, a will open another two units in 2012 with Gigante Grupo as a partner.  Teppanyaki-style chain Sarku Japan will expand in Colombia with operator Frisby, S.A. ─ it has already opened three stores year-to-date.

Alsea is no stranger to P.F. Chang's concepts. It already has exclusive rights to develop and license the parent concept under a 2009 agreement in which it agreed to develop 30 P.F. Chang's restaurants over 10 years. Alsea also snagged the rights for Argentina, Chile and Columbia.  Through this deal, it will develop 17 of the casual dining parent brand restaurants.

Mike Welborn, executive vice president of Global Brand Development for P.F. Chang's, said that the company was excited about Pei Wei's Mexican expansion under Alsea, particularly since the master developer in Mexico has had such success with the P.F. Chang's concept.

"We believe Pei Wei’s fast casual format meets a growing consumer need and addresses current trends in the restaurant sector.” said Armando Torrado, director of Casual Dining Alsea, in a company statement.

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(10-17-11)

Video shows interactive nature of Pei Wei's Blog Asia.

Source: OLSON, Business Wire

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