Marc Malnati on new investor in family's pizzeria: 'Great pizza will remain great pizza'
An investment firm just hammered out a deal to take part ownership of Lou Malnati's Pizzeria, but nothing is changing when it comes to pizza.
"Don't look for changes because there won't be any. ... Great pizza will remain great pizza," said Marc Malnati, who with his brother, Rick, will maintain part ownership in the pizza chain.
The Meritage Group, an investment firm based in San Francisco, is buying the ownership stake held by BDT Capital, a Chicago firm that invested in the pizza chain in 2016, Malnati said Friday. Financial details were not disclosed.
"Five years ago we brought in a financial partner to support growth into Arizona and the Midwest and they feel like they served their purpose with us, supported us, saw us grow and it was time for them to reinvest some of their funds and so they sold the interest that they bought to Meritage," Malnati said.