Lou Malnati's, Chicago's iconic deep-dish pizza chain, is reportedly exploring a sale of the company.
According to Bloomberg News, the pizza chain is exploring options of selling the chain completely, adding a new shareholding or keeping the current structure.
If sold, Lou Malnati's could be valued at as much as $700 million, a source sold Bloomberg. Shareholders, including the Malnati family and BDT Capital Partners are working with an adviser on the matter.
NBC 5 reached out to Lou Malnati's Friday, but the company did not immediately respond to a request for comment.
The first Lou Malnati's was opened in 1971 in north suburban Lincolnwood as Chicago's first deep dish pizzeria, according to their website. After Malnati's death in 1978, his two sons, Marc and Rick, took over the family business.
With more pizzerias opening up across the Chicago area, Lou Malnati's has also expanded outside Illinois with new locations open in Indiana, Wisconsin and Arizona. If not close to a local Lou Malnati's, the pizza company also ships nationwide through their website.