P.F. Chang's Announces International Expansion in Middle East

P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) today announced a development and license agreement with M.H. Alshaya, the Middle East's leading retailer, to develop 34 restaurants throughout the Middle East over the next 10 years.

'We looked at a number of potential development partners in the Middle East and Alshaya is the best,' said Rick Federico, co-CEO and Chairman of the Board, P.F.Chang's China Bistro, Inc. 'We are excited to be working with them to extend our wonderful dining experience to numerous Middle Eastern markets.'

The first location is scheduled to open in Kuwait City by the end of 2009. The second location will open in Dubai during the first quarter of 2010. Future locations are also planned for the Kingdom of Saudi Arabia, the United Arab Emirates, the Kingdom of Bahrain, Qatar, Lebanon, Jordan and Oman.

Alshaya develops and operates retail outlets for many of the world's leading retailers and restaurants, including Starbucks, H&M, Foot Locker and Dean & Deluca.

'We are delighted to partner with P.F. Chang's China Bistro to develop their restaurants throughout the Middle East,' said Mohammed Alshaya, Executive Chairman of M.H. Alshaya Co. 'P.F. Chang's offers delicious Asian-inspired cuisine in an energetic, up-tempo atmosphere and we believe we can use our expertise and local market knowledge to capitalize on their tremendous potential throughout the Middle East.'

Logos, product and company names mentioned are the property of their respective owners.

Reader Comments:

Be the first to leave a comment for this article

Tweet