GEN Restaurant Group has received a non-binding letter of intent from an undisclosed multi-concept restaurant operator to acquire its US restaurant operations and related leases for $100 million. Under the proposed terms, GEN would retain full ownership of its consumer packaged goods and retail business, shifting its strategy to become a pure-play CPG company. The company stated the deal could strengthen its balance sheet while allowing it to focus on its rapidly growing packaged-goods segment, which requires less capital than restaurant expansion. GEN's board, along with financial and legal advisors, will evaluate the proposal to determine the best path for shareholders.
GEN Restaurant Group, Inc. Class A Common StockReceives $100 million buyout offer for US restaurant operations, potentially strengthening balance sheet and enabling focus on CPG segment.
