Lou Malnati’s Sold to Investment Firm: Report

NORTHBROOK, IL — While the Malnati family is expected to retain a stake in the company, legendary Chicago deep-dish pizza chain Lou Malnati's has a new owner. The Northbrook-based business has been sold to the private investment firm Meritage Group, reports Bloomberg News.

WLS-TV is reporting that the Malnati family is retaining ownership of the business. The sale is of a partial ownership stake owned by BDT Capital. Patch has reached out to Lou Malnati's for this story.

Lou Malnati's, founded in 1971 in Lincolnwood, has nearly 60 locations in the Chicagoland area, as well as several in Arizona, Wisconsin and Indiana.

Bloomberg News is reporting that Meritage is buying the company from the chain's current owners, including BDT Capital Partners. The purchase price and other details of the transaction have not been released. The enterprise value of Lou Malnati's is valued at more than $500 million, according to the report.

RELATED: Lou Malnati's Moving Headquarters To Buffalo Grove

It was announced in July that Lou Malnati's would be moving its corporate headquarters to Buffalo Grove after nearly 20 years in Northbrook. The new location was set to be at a 125,000-square-foot building at 900-950 Busch Parkway with a move-in date of next spring. It is unclear if the recent sale will affect the company's plans.