by The Chicago Times Business Staff
October 1, 2021
CHICAGO — Lou Malnati’s announced that a portion of their operation has been sold to the private investment group Meritage Group.
According to Marc and Rick Malnati they will still retain control of the company, which is celebrating its 50th year in operation.
“Nothing will change; it is business as usual. My brother Rick and I continue to be the company’s largest individual stockholders.” Marc stated.
According to the Malnatis, BDT Capital has sold its minority interest to Meritage Group. BDT Capital purchased shares in the company a few years ago when the family-run business decided to expand.
The Malnatis also stated that the company has been considering transferring their headquarters from Northbrook to Buffalo Grove for some years as their shipping business “The Taste of Chicago” increases. They said that the move will let them to grow from 35,000 to 110,000 square feet, with a USDA kitchen.
The Malnati family originally opened its doors in Lincolnwood 50 years ago. There are now over 70 locations, the majority of them are in the Chicago region.