P.F. Chang's Heads South of the Border
P.F. Chang's China Bistro, Inc. announced it has signed exclusive development and licensing agreements with Alsea, S.A.B. de C.V., the leading QSR and casual-dining operator in Latin America, to develop 17 P.F. Chang’s restaurants throughout Argentina, Chile, and Colombia over the next ten years.
The first location is scheduled to open in Santiago, Chile, in early 2012.
Alsea currently operates six 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 ten years.
“We are thrilled to expand our relationship with Alsea, given the success they have achieved in bringing P.F. Chang’s to Mexico,” says Mike Welborn, executive vice president and president of global brand development for P.F. Chang’s China Bistro. “We are excited to continue working with Alsea to extend the P.F. Chang’s brand into South America.”
“We are delighted to expand our casual-dining concepts to South America with P.F. Chang’s,” says Cosme Torrado, Alsea's Latin American delegate board member. “Our P.F. Chang’s restaurants in Mexico have seen excellent results and we look forward to bringing the P.F. Chang’s dining experience to South America.”