CINCINNATI The management of Skyline Chili has bought back a controlling stake in the company from Prudential Capital Group of Chicago, which will retain a minority interest in the Cincinnati-style chili chain. Terms were not disclosed.
The 134-unit iconic chain was sold by local parties 10 years ago to Nautic Partners, a Providence, R.I.-based private equity firm. Skyline and Prudential Capital Group of Chicago have been working together during the past two years to buy out Nautic and return the company to local ownership.
“For nearly 60 years, Skyline Chili and the term ‘Cincinnati style chili’ have been synonymous,” said Kevin McDonnell, president and chief executive of the regional chain. Skyline also sells a packaged line of its chili via supermarkets and mail order.
