GEN Restaurant Group Inks $100M Letter Of Intent With Chubby Group To Sell Operations At 47 U.S. Restaurants

GEN Restaurant Group, Inc. has signed a $100 million letter of intent with Chubby Group to sell operations at 47 U.S. restaurants while retaining its brand and CPG business. The transaction, approved unanimously by GEN's Board of Directors, is expected to close within 30 days and will significantly reduce GEN's lease liabilities of approximately $160 million. Following the sale, GEN anticipates eliminating its outstanding debt and may reinvest in growth, dividends, or share repurchases.