Panda Restaurant Group

Panda Restaurant Group, Inc.
Company typePrivate
GenreChinese and Japanese restaurants
Founded1973
FounderAndrew Cherng
Headquarters1683 Walnut Grove Avenue,
Rosemead, California
,
United States
Number of locations
2,200[1]
Area served
43 U.S. states, Puerto Rico, and Mexico
Key people
Andrew Cherng,
Chairman & Co-CEO
Peggy Cherng,
Co-Chairman & Co-CEO
John F Theuer
CFO
Revenue$3.5 billion (2018)[2]
OwnerCherng family
Number of employees
30,000[3]
Websitewww.pandarg.com Edit this at Wikidata
Panda Express Logo
Panda Inn Logo

Panda Restaurant Group, Inc. is the parent company of Panda Inn, Panda Express and Hibachi-San. It was founded by Andrew and Peggy Tsiang Cherng [4] and Andrew's father, Master Chef Ming-Tsai Cherng; the family originated from the Yangzhou region of China's Jiangsu province. They started their first Panda Inn restaurant in 1973 in Pasadena, California. Ten years later a developer of the new Glendale Galleria mall, a frequent patron of Panda Inn, asked Andrew to start a fast-service version of his restaurant in the new mall. In 1985 the store went from five locations to nine in just one year.[5]

The group's headquarters is located in Rosemead, California.[6] Panda Express is the largest Asian-American restaurant chain in the United States,[5] with 2,200 branches. In 2019 Panda Express opened its first branch in Manila, Philippines, as a joint venture between the Panda Restaurant Group and Jollibee Foods Corp., JBPX Foods.[7][8]

Andrew Cherng and his wife Peggy Tsiang Cherng met at Baker University in Baldwin City, Kansas.[9] Peggy Cherng went on to receive her B.S. degree in Mathematics from Oregon State University in 1971 and a Ph.D. in Electrical Engineering from the University of Missouri.[6] The company debuted on Forbes' 2016 edition of America's Largest Private Companies[10]

The Cherngs invest their personal wealth out of their family office, the Cherng Family Trust.[11][12]

  1. ^ Maurer, Jessica. "Panda Express Expected To Open This Week". WilmingtonBiz. Retrieved 16 December 2019.
  2. ^ "Panda Restaurant Group". Forbes. 31 December 2018. Retrieved 16 December 2019.
  3. ^ "#143 Panda Restaurant Group". Forbes. 24 October 2018. Retrieved 16 December 2019.
  4. ^ Jennings, Lisa, "Having words with Peggy Tsiang Cherng: chief executive and co-chair, Panda Restaurant Group", Nation's Restaurant News, August 1, 2005
  5. ^ a b Klein, Danny (2018-12-19). "Panda Express Blazes a Legacy 35 Years in the Making". QSR magazine. Retrieved 2019-12-16.
  6. ^ a b Cite error: The named reference :0 was invoked but never defined (see the help page).
  7. ^ "Panda Express opens its first branch in Manila". www.bworldonline.com. 12 December 2019. Retrieved 2019-12-16.
  8. ^ Guioguio, Kara Vibal. "New eats: Panda Express now in Manila with exclusive PH-only dishes". ABS-CBN News. Retrieved 2019-12-16.
  9. ^ "Cherngs honored for contributions in L.A. area", Baker Pride alumni magazine, Baker University, Kansas, Spring 2008 issue.
  10. ^ "2016 Private Company Newcomers". Forbes.com. Retrieved 2017-07-22.
  11. ^ "Cherng Family Trust Office (Cherng Family Trust Office) - Family Office, United States - SWFI". www.swfinstitute.org. Retrieved 2019-12-16.
  12. ^ Strum, Beckie. "Panda Express Founders Drop $14 Million on Hawaii Penthouse". www.mansionglobal.com. Retrieved 2019-12-16.