MINNEAPOLIS - Granite City Food & Brewery Ltd. is up for a possible sale or merger.

The business said in a press release that it has hired Houlihan Lokey Capital, an investment bank, to help the company with "a possible strategic transaction."

Options could be a sale, disposition, merger or other transaction involving all or substantial portions of the business.

Granite City Food & Brewery saysthe company lost about $2.5 million in 2014.

The company doesn't expect to comment further unless an agreement is made.

Granite City Food & Brewery is a casual-American restaurant that started in St. Cloud in 1999. The name was drawn from the rich granite mining history in the area.

There are currently 31 Granite City restaurants in 13 states. The company also runs five Cadillac Ranch restaurants in five states.