Boston Pizza opens 25 new restaurants in 2008
Jan. 2, 2009, Vancouver – Boston Pizza Royalties Income Fund
has been increased to include the royalties from 25 new full-service
restaurants opened across Canada between Jan. 1, 2008 and Dec. 31, 2008.
Two restaurants were permanently closed during this period.
With the addition of these 23 net new restaurants, royalties are now payable to
the fund from 323 Boston Pizza restaurants. Annually, the royalty pool of
Boston Pizza restaurants is increased to include the new ones that have opened
in the prior year. The increase is adjusted to reflect any locations that may
have permanently closed during the year.
"We are very pleased to have opened another 25 Boston Pizza restaurants in
2008. Since the inception of the fund in 2002, Boston Pizza has opened a
remarkable total of 172 new restaurants in Canada which is more than any other
full service restaurant chain over that period. This robust growth is evidence
of Boston Pizza's strong operating model and further strengthens our position
as Canada's number one casual dining brand," said George Melville, co-chairman
of Boston Pizza International Inc.
The estimated annual gross franchise revenue for the 25 new restaurants in 2009
is $46.4 million.
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