Report: Lou Malnati's owners exploring selling the chain

The backers of Lou Malnati's Pizzeria are exploring options including a sale of the Chicago-style, deep-dish pizza chain, Bloomberg reported people familiar with the matter saying.

The company could be valued at as much as $700 million, including debt, in a sale, sourcs told Bloomberg. Shareholders, which include the Malnati family and BDT Capital Partners, are working with an adviser, the people said. The group could sell out completely, add a new shareholder or keep its existing structure, they said.

A representative for BDT Capital declined to comment. A representative for Lou Malnati's didn't respond to requests seeking comment.

Founded by investment banker Byron Trott, BDT Capital is the merchant banking arm of BDT & Co. The firm first invested in the chain in 2016, taking a significant stake, Crain's Chicago Business reported at the time.

The chain has expanded its store footprint to more than 50 locations. The chain was founded in 1971 in the Lincolnwood by Lou Malnati and his wife, Jean.