How Panda Express built a $7 billion restaurant empire without going public or selling out“It’s unusual for a restaurant the size of Panda Express to remain private,” said one IPO analyst. FOR SUBSCRIBERSGet more newsLiveonAug. 27, 2026, 6:00 AM EDTBy Allie Canal and Savannah SellersPanda Express is America’s largest Asian restaurant chain. But it’s still privately held — and its founders have no plans to go public, adopt a franchise model or sell the business to a private equity group.Just a moment.We are getting your experience ready.
How Panda Express built a $7 billion restaurant empire without going public or selling out
“It’s unusual for a restaurant the size of Panda Express to remain private,” said one IPO analyst.
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