Regulars at Gen Korean BBQ will quickly notice a few differences about their favorite buffet, from the name on the outside to the meat selections and sides inside.
The popular Korean barbecue chain is preparing for a major transformation under new ownership, with 47 U.S. restaurants expected to be renamed or converted to completely different dining concepts.
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Chubby Group, the company behind well-known Asian restaurant brands such as Chubby Cattle, Wagyu House and The X Pot, has signed a deal to acquire the business of 47 Gen Korean BBQ restaurant and four further development sites.
The deal is worth up to $100 million and is expected to begin reshaping the industry chain as soon as next month.
According to an official announcement from Chubby Group, the first 12 restaurants are scheduled to transfer ownership on November 1, 2026, with the remaining restaurants planned to be transferred in phases over the next 12 months.
The acquisition remains subject to final agreements, regulatory and other approvals.
Gen Korean BBQ restaurant to get new name and menu
After the transformation, not every Gen Korean BBQ restaurant will look the same.
Chubby Group plans to convert the chain’s top-performing restaurants into new concept restaurants called Gen X, while other restaurants will become existing Chubby Group brands, according to an Oct. 23 interview with Nation’s Restaurant News.
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The Gen X concept will retain elements of the traditional Korean barbecue experience while introducing several upgrades.
Planned changes include:
- Higher quality meat selection with more focus on Wagyu beef.
- Vegetables and side dishes are available at the buffet.
- Renovated restaurant interior and dining area.
- Menu expansion and upgrade under new concept.
Gen Korean BBQ currently offers buffet lunch, dinner and fine dining options where patrons can cook their choice of meat on a tabletop grill.
Chubby Group co-founder David Zhao told Nation’s Restaurant News the company plans to improve protein quality and launch buffet stations similar to its Wagyu Factory concept.
Upgrades may also extend beyond beef and traditional Korean barbecue offerings.
In a separate interview with SeafoodSource on Oct. 23, Zhao said Chubby Group plans to expand seafood options at its restaurants, including Gen Restaurants, as they transition to new ownership.
The company already sources high-quality seafood, including king crab from Japanese fish markets and black cod directly from Alaskan fishing vessels.
Zhao said its direct sourcing strategy has saved millions of dollars over the past five years, allowing Chubby Group to better control ingredient quality and menu offerings.
However, the company has not disclosed whether the upgrade will result in a price increase or whether it will change Gen’s existing buffet pricing structure.
Customers also have access to Chubby Club, a buyer loyalty ecosystem that provides points and rewards to participating restaurant brands.
The company has not yet clarified whether existing Gen gift cards or loyalty benefits will remain after individual restaurants change ownership.
Which Gen Korean BBQ spots will change first?
While Chubby Group has identified 12 restaurants as its first-stage acquisition targets, it has not yet released a final list of those locations.
But its official restaurant website already lists 12 upcoming Gen X restaurants in four states.
In California, planned locations include Rancho Cucamonga, Corona, Alhambra, Torrance, Glendale, Fullerton, Tustin and Oxnard.
The company also lists:
- Carrollton, Texas
- Kapolei and Maui, Hawaii
- Sahara Desert in Las Vegas, Nevada.
It is unclear whether these are the 12 restaurants included in the November handover.
The proposed transaction does not represent a complete closing of the acquired restaurants. Instead, Chubby Group plans to continue operating them as part of its portfolio of restaurant brands.
The acquisition also represents a significant expansion for Chubby Group, which currently operates more than 70 restaurants under 25 brands.
The addition of 47 Gen restaurants will significantly increase its footprint, while four development sites may provide additional locations once completed.
The company has bigger ambitions.
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Zhao told Nation’s Restaurant News that Chubby Group hopes to open more than 200 stores in the next two years. The company-wide goals include a broader restaurant expansion strategy, not just Gen Korean BBQ’s transformation.
The ambitious expansion follows a $50 million Series A round led by investment firm Prysm Capital, which valued Chubby Group at $500 million.
According to Chubby Group’s official announcement, this round of financing will support the growth of its restaurant business.
The company plans to use its financial resources to transform acquired Gen restaurants, expand its supply chain and open new dining concepts.
There are already plans to open a new Gen Korean BBQ restaurant in Massachusetts.
According to What Now Boston , Gen is looking for an 8,671-square-foot restaurant at 26 Brattle Street in Harvard Square, Cambridge.
The proposed restaurant will feature multi-level dining space and a rooftop terrace, with seating for nearly 300 people.
Gen CEO David Kim told the publication the restaurant is still at least a year away from opening as it goes through the city’s permitting process.
The project is still subject to approval and it has not yet been confirmed whether the site is one of the four development sites included in the Chubby Group acquisition agreement.
Why Gen Korean BBQ is selling its restaurants
The deal comes after a challenging period for Gen’s traditional restaurant business.
In its second-quarter 2026 financial results filed with the SEC, the company reported a 9.3% annual comparable restaurant sales decline.
Gen previously worked with Chubby Group to transfer the business of several underperforming restaurants, including locations in California, Texas, New Jersey and Florida.
Chubby Group said revenue at the previously renovated Gen restaurant increased as much as six-fold through menu improvements, renovations and changes in operations.
The new deal is also expected to significantly reduce Gen Restaurant Group’s restaurant lease liabilities of approximately $160 million.
Under the agreement, restaurant operations will be transferred to Chubby Group in four phases over 12 months, with Gen retaining operating profits until each restaurant changes hands.
As the deal expands, Gen Restaurant Group plans to abandon most of its restaurant business and focus on selling Korean food through grocery stores.
The company will retain ownership of the Gen brand, its packaged foods business and approximately three restaurants used for training and product development.
Its ready-to-eat Korean barbecue products are sold through retailers such as Costco and Albertsons.
For longtime customers, that means the familiar Gen name may become more common in grocery freezer aisles as it gradually disappears from many restaurant stores.
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