Report: Lou Malnati’s sold to private investment firm

Chicago News

CHICAGO, IL – SEPTEMBER 22: Crowd wait at Lou Malnati’s at Victoria’s Secret PINK And Marshmello Team Up For ‘PINK Loves Chicago’ event on September 22, 2018 in Chicago, Illinois. (Photo by Robin Marchant/Getty Images for Victoria’s Secret PINK)

CHICAGO — Iconic pizza chain Lou Malnati’s has been sold to a private investment firm, according to Bloomberg.

Meritage Group, a family-owned investment firm with $11 billion, is buying the company.

Bloomberg reports that the Malnati family is going to retain a stake in the company once the deal is finalized.

Lou Malnati’s opened in 1971 and has expanded to more than 70 locations. The company reportedly had an enterprise value of more than $500 million in the deal.

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