By Regulars at Gen Korean BBQ will soon notice something different at their favorite all-you-can-eat restaurant, from the name on the outside to the meat selections and side dishes inside.
The popular Korean barbecue chain is preparing for a major transformation under new ownership, with 47 U.S. restaurants expected to be rebranded or converted into entirely different dining concepts.
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Chubby Group, the company behind renowned Asian dining brands including Chubby Cattle, Wagyu House and The X Pot, has signed an agreement to acquire operations at 47 Gen Korean BBQ restaurants and four additional development sites.
The deal, valued at up to $100 million, is expected to begin reshaping the chain as early as next month.
According to Chubby Group’s official announcement, the first 12 restaurants are targeted for an ownership handover on Nov. 1, 2026, with the remaining locations scheduled to follow in phases over the next 12 months.
The acquisition remains subject to final agreements, regulatory and other approvals.
Gen Korean BBQ restaurants will get new names and menus
Not every Gen Korean BBQ restaurant will look the same after the transition.
Chubby Group plans to convert the chain’s top-performing restaurants into a new concept called Gen X, while others 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 selections, with a greater emphasis on wagyu beef.
- Self-service buffet stations featuring vegetables and side dishes.
- Renovated restaurant interiors and dining areas.
- Expanded and upgraded menus under the new concepts.
Currently, Gen Korean BBQ offers all-you-can-eat lunch, dinner and premium dining options, with customers cooking their selected meats at tabletop grills.
Chubby Group co-founder David Zhao told Nation’s Restaurant News that the company plans to improve protein quality and introduce buffet stations similar to those at its Wagyu Factory concept.
The upgrades may also extend beyond beef and traditional Korean barbecue offerings.
In a separate Oct. 23 interview with SeafoodSource, Zhao said Chubby Group plans to expand seafood options across its restaurants, including Gen locations as they transition to new ownership.
The company already sources premium seafood, including king crab from Japanese fish markets and black cod directly from fishing boats in Alaska.
Zhao said its direct sourcing strategy has generated several million dollars in savings over the past five years, allowing Chubby Group greater control over ingredient quality and menu offerings.
However, the company has not disclosed whether the upgrades will result in higher prices or changes to Gen’s existing all-you-can-eat pricing structure.
Customers may also gain access to Chubby Club, the buyer’s loyalty ecosystem, which offers points and rewards across participating restaurant brands.
The company has not clarified whether existing Gen gift cards or loyalty benefits will carry over after individual restaurants change ownership.
Which Gen Korean BBQ locations will change first?
While Chubby Group has confirmed that 12 restaurants are targeted for the first takeover phase, it has not released a definitive list identifying those locations.
But its official restaurant website already lists 12 upcoming Gen X locations across 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 in Las Vegas, Nevada.
It remains unclear whether these are the same 12 restaurants included in the November handover.
The proposed transaction does not represent a complete shutdown of the acquired restaurants. Instead, Chubby Group plans to continue operating them as part of its portfolio of dining brands.
The acquisition also represents a significant expansion for Chubby Group, which currently operates more than 70 restaurants across over 25 brands.
Adding the 47 Gen restaurants would substantially increase its footprint, while the four development sites could contribute additional locations once completed.
And the company has even bigger ambitions.
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Zhao told Nation’s Restaurant News that Chubby Group hopes to surpass 200 locations over the next two years. That companywide target includes its broader restaurant expansion strategy, and not just the Gen Korean BBQ conversions.
The ambitious expansion follows a $50 million Series A funding round led by investment firm Prysm Capital, which valued Chubby Group at $500 million.
According to Chubby Group’s official announcement, the funding will support the growth of its restaurant portfolio.
The company plans to use its financial resources to convert the acquired Gen restaurants, expand its supply chain and open new dining concepts.
There is already a new Gen Korean BBQ restaurant planned in Massachusetts.
According to What Now Boston, Gen is pursuing an 8,671-square-foot restaurant at 26 Brattle Street in Harvard Square, Cambridge.
The proposed restaurant would feature multiple floors of dining space and a rooftop deck, with capacity for nearly 300 people.
Gen CEO David Kim told the publication that the restaurant is at least a year away from opening as it works through the city’s permitting process.
The project remains subject to approvals, and it has not been confirmed whether the location is among the four development sites included in Chubby Group’s 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 that comparable restaurant sales fell 9.3% from a year earlier.
Gen previously partnered with Chubby Group to transfer operations at several underperforming restaurants, including locations in California, Texas, New Jersey and Florida.
Chubby Group said it has increased revenue at a previously converted Gen restaurant by up to sixfold through menu improvements, renovations, and changes to its operations.
The new transaction is also expected to substantially reduce Gen Restaurant Group’s approximately $160 million in restaurant lease liabilities.
Under the agreement, restaurant operations will transfer to Chubby Group in four phases over 12 months, with Gen retaining operating profits until each location changes hands.
With the larger transaction, Gen Restaurant Group plans to move away from most restaurant operations and concentrate on selling Korean food products through grocery stores.
The company will retain ownership of the Gen brand, its packaged-food business and approximately three restaurants for training and product development.
Its ready-to-cook Korean barbecue products are already sold through retailers including 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 storefronts.
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