LOS ANGELES, Oct. 15, 2026 /PRNewswire/ — Chubby Group, the company behind Chubby Cattle, Wagyu House, The X Pot, NIKU X, Chubby Skewers, and Chubby Bowls, has announced a $50 million Series A led by Prysm Capital at a $500 million valuation to fund the growth of the portfolio. The company also announced it signed a letter of intent to acquire GEN Korean BBQ’s 47 U.S. restaurants and four development sites from GEN Restaurant Group (Nasdaq: GENK) in a transaction valued at up to $100 million. The acquisition is expected to significantly expand Chubby’s reach and footprint, positioning it as one of the largest Asian dining groups in the U.S.
Left to Right: David Zhao, Co-founder of Chubby Group; Harby Yang, Co-founder of Chubby Group; Matt Roberts, Co-founder and Partner of Prysm Capital; Alex Li, COO of Chubby Supply; Joyce Li, COO of Chubby Group
Left to Right: David Zhao, Co-founder of Chubby Group; Harby Yang, Co-founder of Chubby Group; Matt Roberts, Co-founder and Partner of Prysm Capital; Alex Li, COO of Chubby Supply; Joyce Li, COO of Chubby Group
Chubby has already transformed former GEN sites, growing unit revenue up to 6x by pairing its supply chain with elevated culinary standards, refreshed interiors, signature hospitality, and the Chubby Club experience. It now plans to roll out that playbook across all 47 restaurants.