Who Owns Panda Express?

of Chinese-inspired dishes. Since its inception, the brand has grown exponentially, spreading its reach across the United States and beyond. But behind the bright red logo and bustling food counters, a compelling story of entrepreneurship, cultural fusion, and family values is at the heart of Panda Express’s success. This article delves into the ownership and rise of Panda Express, examining the individuals and family behind the brand, their business philosophy, and the legacy they are building.

Origins of Panda Express: The Birth of an Icon

To understand who owns Panda Express today, we must start with its origins. Panda Express was founded by Andrew Cherng and Peggy Cherng, an immigrant couple who transformed their entrepreneurial spirit and dedication into a multi-billion-dollar food empire.

Andrew Cherng, a Chinese-born entrepreneur, immigrated to the United States with his family in 1966. He later met his wife Peggy Cherng, who was born in Myanmar (formerly Burma) and raised in Hong Kong. Both Andrew and Peggy had academic backgrounds in the United States—Andrew studied mathematics and Peggy, electrical engineering. They were not restaurateurs by training, but their resilience, hard work, and commitment to innovation eventually helped them create a successful business that fused traditional Chinese cuisine with an American twist.

The first Panda Express was not originally intended to be a fast-food chain, but a sit-down restaurant. In 1973, Andrew’s father, Ming Tsai Cherng, a trained chef, opened a small restaurant called Panda Inn in Pasadena, California. Panda Inn offered high-quality, authentic Chinese cuisine, and it quickly gained a loyal following. But Andrew and Peggy saw an opportunity to take Chinese food to a wider audience by adopting the fast-food model that was flourishing in America at the time.

In 1983, the first Panda Express opened in the Glendale Galleria in California as a fast-casual version of Panda Inn. With this move, Andrew and Peggy set out to create a bridge between traditional Chinese cuisine and the fast-paced, convenience-oriented American dining culture.

The Cherng Family: Owners and Visionaries

At the core of Panda Express is the Cherng family. Panda Express is still privately owned and operated by the Cherng family, making it one of the most successful family-owned businesses in the United States. Andrew and Peggy Cherng remain deeply involved in the business to this day, ensuring that the company stays true to its values while expanding its global footprint.

Andrew Cherng serves as the co-CEO of Panda Restaurant Group (PRG), the parent company of Panda Express. A highly driven and visionary entrepreneur, Andrew’s leadership has been instrumental in shaping the company’s growth trajectory. His entrepreneurial mindset was critical in the early years when the brand was still trying to find its place in the competitive world of fast food. Andrew has emphasized customer service, operational efficiency, and a strong company culture as the driving forces behind Panda Express’s success.

Peggy Cherng, who also serves as co-CEO, has been an equally vital force behind the scenes. With a background in engineering and a Ph.D. in electrical engineering, Peggy applied her technical expertise to improve the company’s operations, from streamlining kitchen processes to enhancing the technology behind customer service and supply chain management. Peggy’s innovations helped the company expand more efficiently while maintaining consistent quality across all locations.

As a couple, Andrew and Peggy’s combined talents and expertise have been a perfect match for growing Panda Express from a single food court location into a global empire. Their partnership, both in business and in life, has been a key factor in the brand’s success. Together, they have instilled a family-oriented approach to their company culture, ensuring that every employee feels valued, and their contributions recognized.

The Panda Restaurant Group: Parent Company of Panda Express

Panda Express is part of the larger Panda Restaurant Group (PRG), which oversees several other brands as well, including Panda Inn and Hibachi-San, a Japanese grill concept. The Cherng family owns Panda Restaurant Group entirely, with no outside investors. This independence allows them to operate the business on their own terms, without the pressures that often come with public ownership or venture capital investment.

PRG’s ownership structure is a unique feature of Panda Express’s success. In an industry where most major fast-food chains are either publicly traded or backed by private equity, Panda Express stands out for its independence. The Cherng family has consistently emphasized the importance of maintaining control over the company’s operations, growth strategy, and values.

This ownership structure has allowed Panda Express to focus on long-term growth rather than short-term profits. The company has taken a slow, steady approach to expansion, prioritizing quality over quantity and maintaining a strong company culture. As of 2024, Panda Express operates over 2,300 locations worldwide, including in countries like Mexico, Canada, and the United Arab Emirates.

A Family Business Culture

One of the reasons Panda Express has been able to thrive as a family-owned business is its commitment to creating a supportive and positive company culture. The Cherngs emphasize the importance of treating employees like family, and this ethos is reflected in the company’s approach to hiring, training, and promoting from within.

At Panda Express, employees are referred to as “Pandas,” and the company invests heavily in their personal and professional development. The Cherngs have long believed that happy employees lead to happy customers, and they have implemented a range of programs to support their workforce. These include leadership training, mentorship opportunities, and personal growth workshops. Additionally, the company offers generous benefits, including healthcare, paid time off, and even tuition assistance.

The company’s commitment to its employees has paid off in the form of low turnover rates and high employee satisfaction. Many of Panda Express’s managers and executives started out as entry-level employees, working their way up through the ranks. This sense of loyalty and opportunity is a key part of what makes Panda Express stand out in the fast-food industry, where high turnover is common.

The Role of Culture and Innovation in Ownership

Panda Express is not just a family-owned business; it is also a brand deeply rooted in cultural exchange and innovation. The Cherng family has always viewed their role as bridging the gap between Chinese and American cultures, and this vision has influenced every aspect of the business.

The menu at Panda Express is a reflection of this cultural fusion. While the food is inspired by traditional Chinese flavors, it has been adapted to appeal to American tastes. Signature dishes like Orange Chicken, Beijing Beef, and Honey Walnut Shrimp are not found in traditional Chinese cuisine but were developed specifically for the American palate. The Cherngs have always been willing to experiment and innovate, introducing new flavors and ingredients to keep the menu fresh and exciting.

In addition to its food, Panda Express has been a leader in adopting new technologies to enhance the customer experience. Under Peggy Cherng’s leadership, the company has embraced digital innovation, from online ordering to mobile apps and loyalty programs. This forward-thinking approach has helped Panda Express stay competitive in a fast-evolving market, where convenience and technology play an increasingly important role in customer satisfaction.

Expansion and Global Reach

As the Cherng family continues to own and operate Panda Express, the brand has expanded its reach both nationally and internationally. Panda Express locations can now be found in more than 10 countries, and the company continues to explore new markets. The global expansion of Panda Express reflects the Cherng family’s ambition to bring their version of Chinese-American cuisine to a wider audience.

Despite its growth, Panda Express remains a family-owned and operated business. The Cherngs have resisted the pressure to sell or take the company public, even as they continue to expand. This decision allows them to maintain control over the company’s values and mission, ensuring that Panda Express remains true to its roots.

The Legacy of Panda Express

Today, Panda Express is much more than a fast-food chain—it is a testament to the power of hard work, innovation, and family values. The Cherng family’s ownership of the brand has allowed them to build a business that reflects their personal vision and values, from their commitment to quality food to their dedication to their employees.

As Andrew and Peggy Cherng continue to lead the company, they are also grooming the next generation to take over. Their daughter, Andrea Cherng, has taken on an increasingly prominent role in the company, serving as the Chief Brand Officer. Andrea, who holds degrees from both Harvard and the University of Southern California, has helped drive the company’s marketing efforts and shape its public image. She represents the future of Panda Express and the continuation of the family legacy.

Conclusion

Panda Express remains one of the most successful and iconic family-owned fast-food chains in the world. Andrew and Peggy Cherng, the visionaries behind the brand, have built an empire based on their unique blend of Chinese and American cultures, a commitment to innovation, and a family-oriented approach to business. Today, as the Cherng family continues to guide the company, they are shaping not only the future of Panda Express but also the fast-casual dining industry at large.