GEN Restaurant Group signs deal to sell 47 restaurants to Chubby Group for up to $100 million
GENK•GEN Restaurant Group signed a letter of intent to sell 47 U.S. restaurants and four development sites to Chubby Group for up to $100 million. Transfers are planned in four phases over 12 months starting November 1, 2026, subject to definitive agreements and other approvals.
1. Proposed restaurant sale
GEN Restaurant Group signed a letter of intent to sell 47 U.S. restaurants and four development sites to Chubby Group for up to $100 million. Transfers are planned in four phases over 12 months, starting November 1, 2026.
2. Consideration and conditions
As part of the consideration, GEN will receive a note convertible into Chubby Group equity at a $1.5 billion valuation. Chubby will receive a perpetual license to the GEN brand and fund restaurant conversions from its own capital. Closing remains subject to definitive agreements, license and lease transfers, and regulatory approvals.
