Who Owns Panda Express?
Updated onExplore the ownership hierarchy of Panda Express. See parent companies, holding structures, and ultimate controllers.
Ownership Chain
Panda Express
Panda Express is a privately held American fast-food restaurant chain that specializes in American Chinese cuisine.
Panda Restaurant Group
Panda Restaurant Group is a privately held restaurant company that operates Panda Express, Panda Inn, Hibachi-San and other Asian-inspired dining concepts worldwide.
Cherng Family Trust
Multi-generational single-family office and investment firm of Panda Express founders Andrew and Peggy Cherng, investing in private equity, real estate, and fund opportunities.
Panda Express
Panda Express is a privately held American fast-food restaurant chain that specializes in American Chinese cuisine.
Panda Restaurant Group
Panda Restaurant Group is a privately held restaurant company that operates Panda Express, Panda Inn, Hibachi-San and other Asian-inspired dining concepts worldwide.
Cherng Family Trust
Multi-generational single-family office and investment firm of Panda Express founders Andrew and Peggy Cherng, investing in private equity, real estate, and fund opportunities.
Major Shareholders
Panda Express
Major Shareholders
| Name | Type | Ownership | As of |
|---|---|---|---|
Cherng family (via Cherng Family Trust) Ultimate beneficial owner of Panda Express. Public sources describe Panda Express as being 100% privately owned by the Cherng family through their parent company, Panda Restaurant Group, which itself is reported to be owned by the Cherng Family Trust, the family office of founders Andrew and Peggy Cherng and their relatives. | Family | — | — |
Panda Restaurant Group, Inc. Direct corporate parent and sole shareholder of Panda Express (Panda Express is operated as a subsidiary/division of Panda Restaurant Group), which is a privately held, family-owned company controlled by co-founders Andrew and Peggy Cherng. | Corporate | — | — |
Panda Restaurant Group
Major Shareholders
| Name | Type | Ownership | As of |
|---|---|---|---|
Cherng Family Trust (Cherng family) Panda Restaurant Group is a privately held, family-owned company whose Wikipedia entry lists the owner as the Cherng family, while the Cherng Family Trust is described as owning Panda Restaurant Group. Company and related sites describe Panda as family-owned and operated, and Forbes links the Cherng family’s wealth and family office to ownership of Panda Restaurant Group; no outside shareholders are publicly disclosed. | Family | — | Dec 2025 |
Andrew Cherng Co-founder, chairman and co-CEO of Panda Restaurant Group and widely reported billionaire whose fortune is tied to ownership of Panda Restaurant Group and Panda Express alongside his family, including through the Cherng Family Trust; specific equity percentage is not publicly disclosed. | Founder | — | Dec 2025 |
Peggy Cherng Co-founder, co-chair and co-CEO of Panda Restaurant Group; company and Forbes profiles consistently identify her as a co-owner of the privately held, family-owned Panda Restaurant Group together with her husband Andrew Cherng and their family office, the Cherng Family Trust; exact ownership stake is not publicly disclosed. | Founder | — | Dec 2025 |
Cherng Family Trust
Major Shareholders
| Name | Type | Ownership | As of |
|---|---|---|---|
Andrew Cherng Co-founder of Panda Restaurant Group and co-founder of the Cherng Family Trust; widely reported as one of the primary controlling family members behind this single-family office and investment trust. | Individual | — | — |
Peggy Cherng Co-founder of Panda Restaurant Group and co-founder of the Cherng Family Trust; widely reported as one of the primary controlling family members behind this single-family office and investment trust. | Individual | — | — |
Cherng family (multi-generational) The Cherng Family Trust is described publicly as the multi-generational family office and investment firm of Andrew and Peggy Cherng and their family. Exact economic and voting interests among individual family members are not publicly disclosed. | Family | — | — |
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