{"id":27843,"date":"2026-09-30T14:10:41","date_gmt":"2026-09-30T14:10:41","guid":{"rendered":"https:\/\/www.quantumrun.com\/consulting\/?p=27843"},"modified":"2026-09-30T14:10:43","modified_gmt":"2026-09-30T14:10:43","slug":"who-owns-panda-express","status":"publish","type":"post","link":"https:\/\/www.quantumrun.com\/consulting\/who-owns-panda-express\/","title":{"rendered":"Who Owns Panda Express?"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1406\" height=\"756\" src=\"https:\/\/www.quantumrun.com\/consulting\/wp-content\/uploads\/2026\/09\/who-owns-panda-express-e1790777420858.jpg\" alt=\"Panda Express ownership guide showing the Cherng Family Trust, Andrew and Peggy Cherng, company history, restaurants, products, and leadership.\" class=\"wp-image-27844\" srcset=\"https:\/\/www.quantumrun.com\/consulting\/wp-content\/uploads\/2026\/09\/who-owns-panda-express-e1790777420858.jpg 1406w, https:\/\/www.quantumrun.com\/consulting\/wp-content\/uploads\/2026\/09\/who-owns-panda-express-e1790777420858-300x161.jpg 300w, https:\/\/www.quantumrun.com\/consulting\/wp-content\/uploads\/2026\/09\/who-owns-panda-express-e1790777420858-1024x551.jpg 1024w, https:\/\/www.quantumrun.com\/consulting\/wp-content\/uploads\/2026\/09\/who-owns-panda-express-e1790777420858-768x413.jpg 768w\" sizes=\"(max-width: 1406px) 100vw, 1406px\" \/><\/figure>\n\n\n\n<style>\n@import url('https:\/\/fonts.googleapis.com\/css2?family=Plus+Jakarta+Sans:wght@400;500;600;700&display=swap');\n.pe-wrap a{color:#a8322a;text-decoration:underline;text-underline-offset:3px}\n.pe-wrap a:hover{color:#7d231d}\n.pe-stats{background:#f7f5f2;border:1px solid #ece7e1;border-radius:14px;padding:22px 26px;margin:22px 0 10px}\n.pe-stats-title{font-size:14px;letter-spacing:.08em;text-transform:uppercase;color:#7a6f64;margin:0 0 10px}\n.pe-stats ul{margin:0;padding-left:20px}\n.pe-stats li{margin:6px 0}\n.pe-chart{border:1px solid #eceef1;border-radius:14px;padding:18px;margin:22px 0}\n.pe-chart-box{position:relative;height:300px;width:100%}\n.pe-cards{display:grid;grid-template-columns:repeat(auto-fit,minmax(250px,1fr));gap:18px;margin:18px 0}\n.pe-card{border:1px solid #e6e8eb;border-radius:14px;padding:20px 22px;transition:box-shadow .2s ease,transform .2s ease}\n.pe-card:hover{box-shadow:0 8px 24px rgba(20,26,33,.08);transform:translateY(-2px)}\n.pe-card-title{font-size:18px;font-weight:600;color:#141a21;margin:0 0 4px}\n.pe-card-tag{font-size:13px;color:#a8322a;margin:0 0 10px;letter-spacing:.02em}\n.pe-card ul{margin:0;padding-left:18px;font-size:15.5px;line-height:1.6}\n.pe-card li{margin:5px 0}\n.pe-timeline{position:relative;margin:10px 0 18px;padding-left:28px;border-left:2px solid #e3d9d0}\n.pe-tl-item{position:relative;border:1px solid #e6e8eb;border-radius:12px;padding:16px 20px;margin:0 0 16px}\n.pe-tl-item::before{content:'';position:absolute;left:-37px;top:22px;width:14px;height:14px;border-radius:50%;background:#fff;border:3px solid #a8322a}\n.pe-tl-date{font-size:13px;color:#7a6f64;letter-spacing:.06em;text-transform:uppercase;margin:0 0 4px}\n.pe-tl-name{font-size:17px;font-weight:600;color:#141a21;margin:0 0 6px}\n.pe-tl-item ul{margin:0;padding-left:18px;font-size:15.5px;line-height:1.6}\n.pe-faq details{border:1px solid #e6e8eb;border-radius:12px;margin:0 0 12px;background:#fff;transition:border-color .2s ease}\n.pe-faq details[open]{border-color:#d9c9bd}\n.pe-faq summary{list-style:none;cursor:pointer;padding:16px 52px 16px 20px;position:relative;border-radius:12px;transition:background .2s ease}\n.pe-faq summary::-webkit-details-marker{display:none}\n.pe-faq summary::after{content:'+';position:absolute;right:20px;top:50%;transform:translateY(-50%);font-size:22px;font-weight:400;color:#a8322a;transition:transform .25s ease}\n.pe-faq details[open] summary::after{content:'\\2212'}\n.pe-faq summary:hover{background:#faf8f6}\n.pe-faq details p{padding:0 20px 16px;margin:0;animation:peFade .3s ease}\n@keyframes peFade{from{opacity:0;transform:translateY(-4px)}to{opacity:1;transform:translateY(0)}}\n@media (max-width:600px){.pe-wrap{font-size:16px}.pe-wrap h2{font-size:24px}.pe-wrap h3{font-size:19px}.pe-stats{padding:18px}.pe-chart-box{height:250px}.pe-timeline{padding-left:22px}.pe-tl-item::before{left:-31px}}\n<\/style>\n<div class=\"pe-wrap\">\n<p>Andrew and Peggy Cherng own Panda Express through the Cherng Family Trust, which controls parent company Panda Restaurant Group. In July 2026, Nation&#8217;s Restaurant News named Panda Express its Brand Icon, and the chain plans 142 new restaurants this year.<\/p>\n<div class=\"pe-stats\">\n<p class=\"pe-stats-title\">Panda Express key statistics<\/p>\n<ul>\n<li>Panda Express ended last year with 2,609 U.S. restaurants, according to Technomic.<\/li>\n<li>Panda Express recorded $6.7 billion in systemwide sales last year.<\/li>\n<li>Panda Restaurant Group employs more than 55,000 associates.<\/li>\n<li>Panda Express added a net 105 restaurants last year, per its franchise disclosure document.<\/li>\n<li>Panda Express sold 148 million pounds of Orange Chicken last year.<\/li>\n<\/ul>\n<\/div>\n<h2>Who Owns Panda Express?<\/h2>\n<h3>The Cherng Family Trust controls Panda Restaurant Group<\/h3>\n<p>Andrew and Peggy Cherng own Panda Express. They hold the chain through the Cherng Family Trust, a family office they founded in 2001.<\/p>\n<p>The trust owns Panda Restaurant Group, the Rosemead, California, parent of Panda Express, Panda Inn and Hibachi-San.<\/p>\n<h3>Why Panda Express has no public shareholders<\/h3>\n<p>Panda Restaurant Group has never listed its stock. That sets it apart from <a href=\"https:\/\/www.quantumrun.com\/consulting\/who-owns-mcdonalds\/\">McDonald&#8217;s shareholder-owned structure<\/a>.<\/p>\n<p>The Cherngs still run the company as co-chairs and co-CEOs, more than 50 years after opening Panda Inn.<\/p>\n<div class=\"pe-chart\">\n<div class=\"pe-chart-box\"><canvas id=\"peNetUnits\" aria-label=\"Panda Express net restaurant growth by year\" role=\"img\"><\/canvas><\/div>\n<\/div>\n<h3>Largest Shareholders of Panda Express<\/h3>\n<div class=\"pe-cards\">\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Cherng Family Trust<\/p>\n<p class=\"pe-card-tag\">Controlling owner<\/p>\n<ul>\n<li>Holds Panda Restaurant Group, the parent of Panda Express.<\/li>\n<li>Founded in 2001 and based in Rosemead, California.<\/li>\n<li>Joined Tom Dundon&#8217;s group that bought the Portland Trail Blazers; the NBA approved the sale in March 2026.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Andrew Cherng<\/p>\n<p class=\"pe-card-tag\">Co-founder, co-chair and co-CEO<\/p>\n<ul>\n<li>Born in 1948 in Yangzhou, China.<\/li>\n<li>Holds a master&#8217;s degree in applied mathematics from the University of Missouri.<\/li>\n<li>Forbes put his net worth at $4 billion in February 2025.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Peggy Cherng<\/p>\n<p class=\"pe-card-tag\">Co-founder, co-chair and co-CEO<\/p>\n<ul>\n<li>Born in Myanmar and raised in Hong Kong.<\/li>\n<li>Earned a Ph.D. in electrical engineering from the University of Missouri.<\/li>\n<li>Forbes estimated her net worth at $3.7 billion in October 2024.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Licensees and joint-venture partners<\/p>\n<p class=\"pe-card-tag\">Restaurant-level stakes<\/p>\n<ul>\n<li>Ran 184 licensed U.S. restaurants at the end of 2025.<\/li>\n<li>In 63 of these, a Panda affiliate holds a minority stake.<\/li>\n<li>Family chains sometimes sell out, as when <a href=\"https:\/\/www.quantumrun.com\/consulting\/who-owns-whataburger\/\">Whataburger&#8217;s founding family sold a majority stake<\/a> in 2019.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h3>Panda Express Origin, Founders and Early Years<\/h3>\n<h3>Panda Inn opens in Pasadena in 1973<\/h3>\n<p>Andrew Cherng and his father, chef Ming-Tsai Cherng, opened Panda Inn in Pasadena on June 8, 1973. Business started slow.<\/p>\n<p>Andrew had met Peggy at Baker University in Kansas in the late 1960s.<\/p>\n<h3>The first Panda Express opens at the Glendale Galleria<\/h3>\n<p>Peggy left her engineering job in 1982 to build the company&#8217;s inventory and operations systems.<\/p>\n<p>A year later, a mall developer who ate at Panda Inn invited the family into the Glendale Galleria. The chain reached 100 stores by 1993 and 1,000 by 2007.<\/p>\n<div class=\"pe-chart\">\n<div class=\"pe-chart-box\"><canvas id=\"peMilestones\" aria-label=\"Panda Express location milestones\" role=\"img\"><\/canvas><\/div>\n<\/div>\n<h3>Who Is on the Board of Directors for Panda Express?<\/h3>\n<h3>Founding leadership<\/h3>\n<div class=\"pe-timeline\">\n<div class=\"pe-tl-item\">\n<p class=\"pe-tl-date\">Since 1973<\/p>\n<p class=\"pe-tl-name\">Andrew Cherng, Co-Chair and Co-CEO<\/p>\n<ul>\n<li>Opened Panda Inn with his father and still sets company strategy.<\/li>\n<li>As a private firm, Panda Restaurant Group does not publish a full board roster.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-tl-item\">\n<p class=\"pe-tl-date\">Since 1982<\/p>\n<p class=\"pe-tl-name\">Peggy Cherng, Co-Chair and Co-CEO<\/p>\n<ul>\n<li>Left McDonnell Douglas to build Panda&#8217;s first computer systems.<\/li>\n<li>Entered the National Restaurant Association Hall of Fame with Andrew.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h3>Operations leadership<\/h3>\n<div class=\"pe-timeline\">\n<div class=\"pe-tl-item\">\n<p class=\"pe-tl-date\">Joined in 1995<\/p>\n<p class=\"pe-tl-name\">Jeff Wang, Chief Operating Officer<\/p>\n<ul>\n<li>Started as counter help at Store 194 in South Pasadena.<\/li>\n<li>Runs operations for every Panda Restaurant Group concept.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h3>Finance leadership<\/h3>\n<div class=\"pe-timeline\">\n<div class=\"pe-tl-item\">\n<p class=\"pe-tl-date\">CDO 2011 to 2014, now CFO<\/p>\n<p class=\"pe-tl-name\">David Landsberg, Chief Financial Officer<\/p>\n<ul>\n<li>Leads finance, accounting, strategy and tax.<\/li>\n<li>Manages banking relationships and the search for investments and acquisitions.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h3>Brand and marketing leadership<\/h3>\n<div class=\"pe-timeline\">\n<div class=\"pe-tl-item\">\n<p class=\"pe-tl-date\">Second generation<\/p>\n<p class=\"pe-tl-name\">Andrea Cherng, Chief Brand Officer<\/p>\n<ul>\n<li>Daughter of the founders.<\/li>\n<li>First built Panda&#8217;s digital business team, covering social media and e-commerce.<\/li>\n<li>Oversees menu development, marketing and quality assurance.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Panda Express Mission Statement<\/h2>\n<p>Panda Restaurant Group&#8217;s mission has two parts. It aims to deliver exceptional Asian dining and to build a company where people feel inspired to improve their lives.<\/p>\n<p>Its vision is to be known as a world leader in people development.<\/p>\n<p>Andrew Cherng often repeats one core value: &#8220;no best, only better.&#8221;<\/p>\n<p>The mission shows up in pay and training. Store chefs and general managers share in profits, and associates can earn college credit through University of Panda, a UNLV program launched in 2013.<\/p>\n<p>Starbucks took another route and <a href=\"https:\/\/www.quantumrun.com\/consulting\/who-owns-starbucks\/\">rewrote its mission during a turnaround<\/a>.<\/p>\n<h2>Panda Express Products and Services<\/h2>\n<div class=\"pe-cards\">\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Orange Chicken and wok entr\u00e9es<\/p>\n<ul>\n<li>Chef Andy Kao created Orange Chicken in 1987 at a Hawaii location.<\/li>\n<li>About a third of all orders include it.<\/li>\n<li>Other staples include Beijing Beef, Broccoli Beef, Honey Walnut Shrimp and Kung Pao Chicken.<\/li>\n<li>Competes for chicken orders with <a href=\"https:\/\/www.quantumrun.com\/consulting\/who-owns-kfc\/\">KFC and its parent, Yum! Brands<\/a>.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Sides and appetizers<\/p>\n<ul>\n<li>Chow Mein, Fried Rice, White Steamed Rice and Super Greens.<\/li>\n<li>Chicken Egg Rolls, Veggie Spring Rolls and Cream Cheese Rangoons.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Limited-time menu items<\/p>\n<ul>\n<li>The Innovation Kitchen opened in 2014 to test new dishes.<\/li>\n<li>Cantonese BBQ Brisket ran as a summer 2026 special.<\/li>\n<li>Panda announced Hot Orange Chicken in August 2026.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Panda Rewards and digital ordering<\/p>\n<ul>\n<li>The loyalty program launched in 2023.<\/li>\n<li>It now has more than 20 million users.<\/li>\n<li>The Panda Auto Wok, rolled out in 2020, speeds up kitchen prep.<\/li>\n<\/ul>\n<\/div>\n<div class=\"pe-card\">\n<p class=\"pe-card-title\">Panda Inn and Hibachi-San<\/p>\n<ul>\n<li>Panda Inn runs four sit-down restaurants in Pasadena, Glendale, La Palma and Ontario, California.<\/li>\n<li>Hibachi-San is the group&#8217;s Japanese quick-service brand.<\/li>\n<li>Panda Inn sits in casual dining, a segment that includes <a href=\"https:\/\/www.quantumrun.com\/consulting\/who-owns-olive-garden\/\">Olive Garden under Darden Restaurants<\/a>.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>How Did Panda Express Get Its Name?<\/h2>\n<p>The name came before Panda Express existed. A friend of Andrew Cherng&#8217;s father suggested &#8220;Panda&#8221; for the family&#8217;s first restaurant, Panda Inn, in 1973, according to the Los Angeles Business Journal.<\/p>\n<p>The choice followed President Nixon&#8217;s 1972 trip to China. Soon after, China sent two giant pandas to the National Zoo in Washington.<\/p>\n<p>NBC reported that the Cherngs saw the panda as a symbol of friendship.<\/p>\n<p>In 1983, the family added &#8220;Express&#8221; to set the mall outlet apart from the sit-down Panda Inn. Some fans read &#8220;Panda&#8221; as &#8220;P and A,&#8221; for Peggy and Andrew, but Nation&#8217;s Restaurant News reports the match is a coincidence.<\/p>\n<div class=\"pe-faq\">\n<h2>FAQ<\/h2>\n<details>\n<summary>What is the Panda Express market cap in 2026?<\/summary>\n<p>Panda Express has no market cap in 2026. Its parent, Panda Restaurant Group, is private and does not trade on any stock exchange, so no share price or public valuation exists.<\/p>\n<\/details>\n<details>\n<summary>Is Panda Express an American company?<\/summary>\n<p>Yes. Panda Express is an American chain founded in Glendale, California, in 1983. Its parent, Panda Restaurant Group, has its headquarters in Rosemead, California.<\/p>\n<\/details>\n<details>\n<summary>Who owns Panda Express?<\/summary>\n<p>Andrew and Peggy Cherng own Panda Express through the Cherng Family Trust. The trust controls Panda Restaurant Group, the private parent of Panda Express, Panda Inn and Hibachi-San.<\/p>\n<\/details>\n<details>\n<summary>What is the net worth of Panda Express?<\/summary>\n<p>Panda Restaurant Group does not publish a valuation. Panda Express recorded $6.7 billion in 2025 systemwide sales, per Technomic. Forbes estimated the Cherngs&#8217; combined fortune at $7.5 billion in 2025.<\/p>\n<\/details>\n<details>\n<summary>When did Panda Express come out?<\/summary>\n<p>The first Panda Express opened in October 1983 at the Glendale Galleria in Glendale, California. It grew out of Panda Inn, which the Cherng family opened in Pasadena in 1973.<\/p>\n<\/details>\n<\/div>\n<\/div>\n<script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js@4.4.1\/dist\/chart.umd.min.js\"><\/script>\n<script>\n(function(){\nfunction peDraw(){\nif(typeof Chart==='undefined'){return setTimeout(peDraw,150);}\nChart.defaults.font.family=\"'Plus Jakarta Sans',-apple-system,'Segoe UI',Arial,sans-serif\";\nChart.defaults.color='#4a525c';\nvar grid='rgba(20,26,33,0.07)';\nvar a=document.getElementById('peNetUnits');\nif(a){new Chart(a,{type:'bar',data:{labels:['2022','2023','2024','2025','2026 plan'],datasets:[{label:'Net new restaurants',data:[53,61,89,105,142],backgroundColor:['#1f3a5f','#1f3a5f','#1f3a5f','#1f3a5f','#c9a27e'],borderRadius:6,maxBarThickness:56}]},options:{responsive:true,maintainAspectRatio:false,plugins:{legend:{display:false},title:{display:true,text:'Panda Express net restaurant growth by year',font:{size:15,weight:'600'},color:'#141a21',padding:{bottom:14}}},scales:{x:{grid:{display:false}},y:{beginAtZero:true,grid:{color:grid}}}}});}\nvar b=document.getElementById('peMilestones');\nif(b){new Chart(b,{type:'line',data:{labels:['1983','1993','2007','2017','2025'],datasets:[{label:'U.S. restaurants',data:[1,100,1000,2000,2609],borderColor:'#a8322a',backgroundColor:'rgba(168,50,42,0.08)',fill:true,tension:0.3,pointRadius:5,pointBackgroundColor:'#a8322a'}]},options:{responsive:true,maintainAspectRatio:false,plugins:{legend:{display:false},title:{display:true,text:'Panda Express location milestones',font:{size:15,weight:'600'},color:'#141a21',padding:{bottom:14}}},scales:{x:{grid:{display:false}},y:{beginAtZero:true,grid:{color:grid}}}}});}\n}\nif(document.readyState==='loading'){document.addEventListener('DOMContentLoaded',peDraw);}else{peDraw();}\n})();\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>Who owns Panda Express? Explore the Cherng Family Trust, Andrew and Peggy Cherng, Panda Restaurant Group, company history, restaurant growth, products, leadership, and private ownership structure.<\/p>\n","protected":false},"author":1,"featured_media":27844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[244],"tags":[],"class_list":["post-27843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-who-owns"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Who Owns Panda Express?<\/title>\n<meta name=\"description\" content=\"Who owns Panda Express? 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