Chicago pizza pioneer Lou Malnati’s reportedly exploring a sale

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The Chicago-style-pizza chain Lou Malnati’s, which operates nearly 70 locations in four states as well as a mail-order business, is exploring a sale that could fetch as much as $700 million, according to a Bloomberg report. The chain, whose original location in suburban Lincolnwood, Ill., opened in 1971, is owned by the founding Malnati family and the Chicago private-equity firm BDT Capital. Founder Lou Malnati, who died in 1978, figures prominently in most versions of deep-dish Chicago-style pizza’s origin story, which dates to the 1940s.

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