Overview
Pei Wei Asian Diner, LLC, operating as Pei Wei Asian Kitchen, is a prominent entity in the American fast-casual dining sector with a specialization in Pan-Asian cuisine. Established in 2000 in Scottsdale, Arizona, Pei Wei has expanded to 119 locations across the United States and is headquartered in Irving, Texas. The company is owned by PWD Acquisition LLC, a private equity firm under the leadership of Lorne Goldberg.
Business Model and Offerings
Pei Wei Asian Kitchen offers a unique fast-casual dining experience marked by convenience and quality, with open-concept kitchens where dishes are cooked to order. The menu emphasizes fresh ingredients, including house-chopped vegetables, white-meat chicken, and grass-fed flank steak, with options catering to vegetarian and gluten-free diets. Pei Wei focuses on delivering flavorful dishes promptly to meet customer expectations for both convenience and taste.
Strategic Focus and Values
Pei Wei's strategic focus is on maintaining high standards of freshness and taste in the competitive fast-casual dining arena. The company prioritizes customer satisfaction by offering customizable dishes and leveraging digital technologies such as online ordering and a loyalty app. Strategic goals include ensuring quality and authenticity while expanding domestically.
Leadership
The company is led by John 'J.' Hedrick as CEO, with support from senior executives such as Matthew Runkle (Senior Vice President of Supply Chain) and Robert Hersh (VP Operations Excellence). The leadership team is focused on ensuring the fulfillment of the company's strategic objectives, with an emphasis on operational excellence and optimized supply chain management.
Ownership and Financial Performance
Pei Wei was acquired by PWD Acquisition LLC in June 2019, owned by Lorne Goldberg, who also manages other restaurant brands such as Pick Up Stix and Mandarin Express. The company is reported to generate annual revenues of approximately $337.9 million and employs around 1,379 individuals.
Expansion and Innovation
Pei Wei continues to innovate with initiatives like the Pei Wei Test Kitchen in Scottsdale, which explores new culinary concepts. The company was an early adopter of technological enhancements such as Apple Pay and a comprehensive mobile app for customer convenience. As a leader in the fresh, fast-casual Asian dining segment, Pei Wei is committed to continual improvement and customer service excellence.
Competitor Analysis
Panda Express
Panda Express is the largest competitor in the Asian quick-service category, with over 2,400 locations worldwide. Founded in 1983, it offers a menu of American Chinese cuisine with popular dishes like orange chicken. The company dominates the market with substantial annual revenues.
P.F. Chang’s
Providing an upscale dining experience, P.F. Chang’s operates more than 300 locations globally and is known for its American-Asian fusion menu. Established in 1993, it remains privately owned by TriArtisan Capital and Paulson & Co., emphasizing tradition in its culinary approach.
Noodles & Company
Though its focus is not exclusively Asian, Noodles & Company is a notable competitor within the fast-casual segment. Founded in 1995 and headquartered in Broomfield, Colorado, it offers a diverse menu across 448 locations in the United States, leveraging high-quality ingredients for a customizable dining experience.
Tokyo Joe’s
Tokyo Joe’s, originating in 1996, provides a Japanese-inspired fast-casual dining model with 27 locations, mainly in Colorado and Arizona. Its acquisition by the Salad Collective in 2022 reinforces its commitment to innovation and healthy, customizable options.
Teriyaki Madness
Specializing in teriyaki bowls, Teriyaki Madness has expanded to 160+ locations across 40 states. The chain focuses on fresh, manageable portions and healthy offerings, establishing itself as a rising competitor through its robust growth and franchise model.
