Signs Agreement with Alsea to Develop P.F. Chang’s Restaurants
Throughout Mexico
P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) today announced a
development and license agreement with Alsea, S.A.B. de C.V. (BMV:
ALSEA), the leading Quick Service Restaurant (“QSR”) and Casual Dining
operator in Latin America, to develop 30 restaurants throughout Mexico
over the next 10 years. The first location is scheduled to open in
Mexico City in the fourth quarter of 2009.
“It’s important for us to find great partners as we expand our dining
experience to other countries,” said Rick Federico, co-CEO and Chairman
of the Board, P.F. Chang’s China Bistro, Inc. “We are excited in what we
found in Alsea and about the prospects of bringing P.F. Chang’s to
Mexico with them.”
“We are delighted to bring P.F. Chang’s to Mexico,” said Alberto
Torrado, Director of Alsea. “We believe the Mexican community will love
the quality of the food and the high-energy atmosphere that P.F. Chang’s
provides its guests.”
Alsea plans to initially focus on Mexico City and open two restaurants
in the first year of the agreement. Alsea will then broaden expansion
throughout Mexico with plans for opening 10 restaurants in the first
four years.
About Alsea
Alsea is the leading QSR and Casual Dining operator in Latin
America—operating global brands of proven success such as Domino’s
Pizza, Starbucks Coffee, Burger King, Chili’s Grill & Bar and California
Pizza Kitchen. Alsea’s shares are traded on the Mexican Stock Exchange
under the ticker symbol ALSEA.
About P.F. Chang's China Bistro, Inc.
P.F. Chang's China Bistro, Inc. owns and operates two restaurant
concepts in the Asian niche. P.F. Chang's China Bistro features a blend
of high-quality, traditional Chinese cuisine and American hospitality in
a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers
a modest menu of freshly prepared Asian cuisine in a relaxed, warm
environment offering attentive counter service and take-out flexibility.
Dig Communications
Rachel Gillman, 312-577-1759
rgillman@digcommunications.com
