F&B Unicorn Chubby Group Surpasses $45 Million in Equity Raised, Strengthening Its $300M+ Valuation and Market Expansion
Chubby Group has raised over $45 million in equity funding, reinforcing its $300 million+ valuation and expanding its premium dining footprint. With a $20 million prepayment for Japanese A5 Wagyu and plans to acquire 5,000+ wagyu cattle, it is set to become the largest hospitality-based consumer of A5 Wagyu in the U.S. by 2025. The company also plans to open 35 new locations and launch the Chubby Club loyalty program, aiming to reach 1 million members. Los Angeles, CA / Chubby Group has raised over $45 million in equity funding across its holding company and individual restaurant locations, reinforcing its position as a leader in premium dining and in-person experiences. This achievement highlights the company’s strategic scaling and premium ingredient acquisition, particularly in Japanese A5 wagyu. In 2024, the company set an ambitious goal to acquire at least $20 million in wagyu supply to support its expanding restaurant chain. Through debt and equity financing, Chubby Group successfully met this target while positioning itself for continued growth. This year, Chubby Group secured over $10 million in debt financing to support wagyu acquisition and business expansion. The most recent round includes funding from Pasadena- based East West Bank—a leading financial institution with deep expertise in cross-border transactions—along with contributions from family offices and long-term partners. These funds were instrumental in securing a $20 million prepayment for Japanese A5 wagyu supply in Q1 2025. To date, Chubby Group has raised over $45 million in equity investments, funding the development of nearly 35 existing locations and the next 35 in the pipeline for 2025. With the latest round, Chubby Group’s valuation now stands at $300 million. Notably, the latest round includes an investment from Shinnosuke Murakami, a representative of S Foods Group and one of Japan’s most prominent wagyu industry leaders, who has now decided to further support the company through an additional contribution via S Foods Group, a major Japanese meat company with annual consolidated net sales of ¥425 billion (approximately $2.89 billion). Also participating in this latest round is Entrepreneur Ventures, a firm specializing in scaling innovative consumer businesses. Entrepreneur Ventures has backed Chubby Group alongside over 150 startups in consumer packaged goods (CPG), technology, and frontier markets. With these backings, Chubby Group is acquiring over 5,000 Japanese A5 wagyu cattle and additional premium livestock throughout the coming year. This initiative will make Chubby Group the largest hospitality-based consumer of Japanese A5 wagyu in the United States, accounting for approximately 5% of Japan’s total A5 wagyu exports in 2025, with plans to increase that share to 10% by 2026. “This is a significant milestone for Chubby Group as we continue our mission to not only make high-quality ingredients more accessible but also deliver exceptional value across all our F&B concepts.” said David Zhao, Co-Founder of Chubby Group. Looking ahead, Chubby Group plans to open 35 new locations in 2025, expanding its footprint to nearly 70 establishments by year-end. As part of its growth strategy, the company is advancing its supply chain management and loyalty engagement to enhance the dining experience and industry impact. Through a first-of-its-kind loyalty ecosystem, Chubby Group aims to onboard 1 million members to its Chubby Club program, positioning it among the fastest-growing in the food and beverage industry. By strengthening direct partnerships with top-tier suppliers, Chubby Group ensures unparalleled offerings for Chubby Club members and restaurant patrons alike. “Our vision is to transform the hospitality landscape through quality, value, and innovation,” said Haibin Yang, CEO of Chubby Group. “With the support of our investors and partners, we continue to push boundaries and create elevated dining experiences that set us apart.” About Shinnosuke Murakami & S Foods Inc. Shinnosuke Murakami is a prominent leader in Japan’s food industry, serving as President andRepresentative Director of S Foods Inc. S Foods Inc., established in 1967 and headquartered inNishinomiya, Japan, is a meat company engaged in manufacturing, wholesaling, retailing, andfood servicing of meat-related products. The company operates through three segments:Manufacturing and Wholesale Business, Meat Retail Business, and Meat Restaurant Business.Its global reputation is built on its leadership in wagyu production and commitment to quality. About Chubby Group (Chubby Cattle International, LLC) Chubby Group is a global, multi-brand Food and Beverage (F&B) company with headquarters inthe United States, China, and Japan. Operating across B2B and B2C channels, it is fullyvertically and horizontally integrated, ensuring premium ingredients through direct sourcing anda streamlined supply chain. Its diverse restaurant concepts—including X Pot, Chubby CattleBBQ, NIKU X, and MIKIYA Wagyu Shabu House—offer innovative, high-value diningexperiences. By centralizing memberships and enhancing customer engagement, ChubbyGroup fosters loyalty while redefining the F&B industry. On track to becoming the world’s largestin-person experience platform, it is setting a new global standard for dining, entertainment, andoperational excellence. For more information, please contact:hi@chubbygroup.comwww.chubbygroup.com Media Contact April Liapril@chubbygroup.com4243889875
Lee Kum Kee and Chubby Group Unveil Exciting New Collaborative Dishes Celebrating Asian Heritage
Limited-time Menu Items Will Be Available at select Chubby Group Restaurants Starting July 15, 2024 New York, NY / Lee Kum Kee (https://usa.lkk.com/), a leader in authentic Asian sauces and condiments, is thrilled to partner with Chubby Group (https://www.chubbygroup.com/), a premier Food and Beverage holding company operating over 20 restaurants, best known for its wagyu and its diverse array of dining concepts in the United States. Starting July 15, 2024, this collaboration will launch a few exclusive new dishes and dipping sauces across 5 locations under Chubby Group. They include two new dishes at Chubby Cattle BBQ Rowland Heights location, two special hotpot dipping sauces at Wagyu House Rowland Heights location, and one at Mikiya Wagyu Shabu House Cerritos location. The collaboration also highlights the use of Lee Kum Kee products at two other Chubby Group restaurants, blending a variety of tastes and experiences that honor their shared Asian heritage while introducing exciting new flavors to delight diners. Lee Kum Kee x Chubby Group Collaboration Dishes Lee Kum Kee, established in 1888, has long been at the forefront of promoting Asian culinary culture globally, with its products becoming staples in kitchens worldwide. Chubby Group has left an indelible mark on the culinary landscape, embodying the essence of culinary diversity and creativity with wagyu BBQ, Hot Pot, Sushi, and other experiences. Joyce Tsai, Senior Channel Marketing Manager of the Asian Team at Lee Kum Kee, expressed excitement about the collaboration, stating, “This partnership with Chubby Group leverages their innovation and creativity in the culinary scene, enabling us to reach a new generation of diners. By introducing inventive dishes that blend traditional flavors with modern twists, we can honor our rich heritage while appealing to contemporary tastes. We are eager to see how these new offerings will enhance the dining experience and inspire culinary creativity among our patrons.” The two menu items available at the Chubby Cattle BBQ Rowland Heights location are: The two exclusive hotpot dipping sauces available at the Wagyu House Rowland Heights location are At the Mikiya Wagyu Shabu House Cerritos location, diners are encouraged to try the new collaborative dipping sauce to elevate their Shabu experience. Customers will also find new squeezable bottles of Lee Kum Kee Choy Sun Oyster Flavored Sauce at the sauce bars at the following locations: “We always aim to improve the quality of the food and dining experiences for our customers, and Lee Kum Kee’s sauces are a crucial element,” says Chubby Group’s co-founder, David Zhao. He continues to share his inspiration and commitment to innovation and excellence in providing hospitality, “With Lee Kum Kee’s products, we are able to deliver delicious tastes and unique dishes that blend traditional and modern culinary trends.” This collaboration serves as a platform for showcasing the boundless possibilities of both Lee Kum Kee and Chubby Group. It encourages creativity, inspiring home cooks and professionals in the restaurant industry alike to experiment with new flavors and techniques. “It’s not only about the food,” says Joyce Tsai of Lee Kum Kee. “In the context of this collaboration, food becomes more than just sustenance—it becomes a cultural bridge and a vibrant medium for expressing their shared values and culinary innovation.” The collaboration will be launched on July 15, 2024, at multiple Chubby Group restaurants in cities including Los Angeles, Las Vegas, and Chicago for a limited time.For more information, please visit the Lee Kum Kee website at https://usa.lkk.com/ and follow them on Instagram at visit the Lee Kum Kee website https://usa.lkk.com/ and follow them on Instagram at @leekumkeeusa, and visit Chubby Group’s website https://www.chubbgroup.com/ and follow them on Instagram at @chubby.group. About Lee Kum Kee Lee Kum Kee, a name synonymous with quality and authenticity, has been an integral part of kitchens around the globe for over a century. Founded in 1888, the company has committed to producing delicious sauces and condiments that adhere to high standards of quality. Today, Lee Kum Kee is a household name, enabling families worldwide to enjoy better-tasting meals with its products. For more information, visit: https://usa.lkk.com/ About Chubby Group Chubby Group stands as a premier US-based F&B holding company. Celebrated for its dining concepts such as The X Pot, Chubby Cattle, Wagyu House, Niku X, and Mikiya, the group operates 23 multi-concept restaurants. Alongside its dining establishments, Chubby Group has launched distinct consumer product lines, featuring standouts like Wagyu Rice Bowls and Wagyu Soup Dumplings. For more information, visit: https://www.chubbygroup.com/ Media Contact Milenna Huangpr@nu.marketing(212) 868-0868