VANCOUVER — The new year marks the announcement from the Boston Pizza Royalties Income Fund (The Fund) and Boston Pizza International Inc. (BPI) that the Fund’s royalty pool has been adjusted to include royalties from 12 new full-service restaurants that opened in Canada between Jan.1 and Dec. 31, 2013.
Two of the full-service restaurants were closed during the aforementioned period, but this period is the 12th consecutive annual increase of royalties payable to the Fund. “We are very pleased with the 12 new Boston Pizza restaurants opened in 2013, including six in Western Canada, four in Ontario and two in Quebec. These new locations further strengthen our position as Canada’s number-1 casual-dining brand,” said Mark Pacinda, president and CEO of BPI. “Since the inception of the Fund, the Royalty Pool has added more than 200 new Boston Pizza restaurants.”
The estimated annual net franchise revenue for the new restaurants in 2013 is $19.8 million, not including the actual gross franchise revenue from the two restaurants that closed.
Effective Jan. 1, there are 358 restaurants in the Royalty Pool.