Lou Malnati's Reportedly Looking To Sell The Company

CHICAGO - The backers of Lou Malnati's, a chain of deep-dish pizza restaurants and a staple of the Chicago food scene, are reportedly looking into selling the business.

In an exclusive report by Bloomberg News, sources revealed that a number of high-stakes shareholders of Lou Malnati's had begun looking into sales options. An anonymous source from Bloomberg said that the brand could be worth as much as $700 million. The company is still owned in part by the original Malnati family, as well as BDT Capital Partners, a firm whose other investments include Adidas and Webhelp.

While the exact direction of the sale is unclear, BDT Capital told Bloomberg that "the group could sell out completely, add a new shareholder, or keep its existing structure."

BDT Capital first invested in Lou Malnati's in 2016, and despite the large investment, Crain's Chicago Business reported that two of the original Malnati brothers, Rick and Marc, would remain the largest shareholders.

The history of Lou Malnati's goes back to the 1940s, when Lou Malnati began working in one of Chicago's original pizza parlors, according to the restaurant's website. The first Lou Malnati's pizza was opened in 1971 in the Chicago suburb of Lincolnwood, and opened a second location in Elk Grove Village eight months later. Soon, many more restaurants began opening, and ownership of the brand soon fell to Rick and Marc Malnati.

Today, Lou Malnati's is the largest deep-dish pizza chain in Chicagoland, and reportedly employ more than 3500 people. Beyond the 57 Illinois locations, a number of franchises have also been opened in Arizona, Wisconsin and Indiana. Additionally, the chain has started a number of charitable funds, including cancer fundraising and community partnerships.