Luby’s sold to Chicago businessman for $28.7 million

San Antonio (KTSA News) — A Texas favorite lives to serve more LuAnn platters.

Luby’s was sold on Monday to Chicago entrepreneur Calvin Gin.

Gin says he plans to keep 32 Luby’s in Texas open, including 5 locations in San Antonio.

“This transaction will allow us to continue serving the many loyal Luby’s customers at the locations and provide long-term employment opportunities for the many associates currently at these locations.”

The deal is valued at $28.7 million.

Luby’s was founded in San Antonio in 1947 and it currently headquartered in Houston.

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