SCOTTSDALE Ariz. P.F. Chang’s China Bistro Inc. said Thursday that it is negotiating the sale of a controlling stake in Taneko Japanese Tavern to Dallas restaurateur Jack Baum, who indicated that he intends to grow the izakaya-inspired concept.
Terms of the deal were not disclosed, but P.F. Chang’s said it would retain a minority interest in the business. Baum’s company, Food, Friends & Co., operates 13 restaurants in nine states, including the brands Wapango, Mexico Cantina y Veracruz Cooking and Cozymel's Mexican Grill.
Baum also plans to open an American cuisine restaurant in Dallas called the Woodlands on Forest on Jan. 21.
P.F. Chang’s opened Taneko in 2006 in Scottsdale to test an entry into Japanese casual dining. The concept is patterned after the izakayas, or neighborhood taverns, of Japan. The menu features natural, organic and seasonal ingredients and highlights various cooking styles of Japan.
“We think it has a lot of potential,” Baum said. “We are inheriting a team that I think is top-notch.”
Taneko’s founding chef Paul Muller and operating partner Mark Evensvold will remain with the concept, Baum said.
“They are retaining ownership in the concept and know the potential and what changes are needed,” Baum said. “There’s a lot of trust between our company and P.F. Chang’s, and that is shown in the fact that they are maintaining a minority stake in the business.
“We’re going to move Taneko to where the marketplace has been asking,” he continued. “I wouldn’t have done this if I thought Taneko’s potential is just one location.”
Baum indicated that Taneko’s high food costs may have posed obstacles for the fledgling concept.
“They had not held anything back,” he said. “Food costs in a concept like this or any Japanese concept tend to be high. The quality of the product is high. One of the challenges we have is to balance the food costs to where we can bring the prices down for the guest.”
Baum said his new Woodlands on Forest, in an expanded former Wendy’s location in North Dallas, was inspired by Fallingwater, the architectural landmark in Pennsylvania that was designed by Frank Lloyd Wright.
“The menu is very creative, from soups to tuna tartare to calamari to mussels,” he said. “We will have a bevy of salads and entree salads. Sandwiches at lunch will range from a grilled chicken to Kobe beef sliders to a bison burger to a prime-rib sandwich.”
Entrees will include mahogany chicken, which features a half a bird with a maple glaze, and a vegetarian goat cheese and vegetable tart.
“It’s food that people want to eat,” he said, “and it’s very approachable. It’s not fringe food.”
Baum said he feels a rebellion against chains is developing.
“Everything we are doing new going forward is really about the neighborhood,” he said. “I really want us to interact and relate to customers within a five-mile radius of [Woodlands] and become a friendly location for the people who live there.”
