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.