Chubby Group Closes $50M Series A Led by Prysm Capital at $500M Valuation; Signs Deal to Purchase 47 GEN Korean BBQ Restaurants
Chubby Group raised $50 million in a Series A led by Prysm Capital at a $500 million valuation. It also signed a letter of intent to acquire GEN Restaurant Group’s 47 U.S. GEN Korean BBQ restaurants and four development sites in a transaction valued at up to $100 million.
Why it matters — The proposed transaction concerns a substantial portion of GENK’s restaurant portfolio, though it remains subject to a letter of intent.