Boston Pizza adds 11 new restaurants, closes 3 in 2017
Vancouver – Boston Pizza International opened 11 new full-service restaurants and closed three full-service restaurants in Canada in 2017.
With the adjustment for these openings and closures during 2017, the Boston Pizza Royalties Income Fund Royalty Pool now includes 391 Boston Pizza restaurants, the Income Fund and Boston Pizza International in a news release.
"We are very pleased with the 11 new Boston Pizza restaurants opened in 2017, including six in Western Canada, four in Eastern Canada, and one in Quebec. These new locations further strengthen our position as Canada's number one casual dining brand," said Jordan Holm, president of BPI.
"Since the inception of the Fund, 237 net new Boston Pizza restaurants have been added to the Royalty Pool, growing from 154 in 2002 to 391 locations across the country today."
The Fund effectively receives 5.5 per cent of franchise revenues of Boston Pizza restaurants in the Royalty Pool less the pro rata portion payable to BPI in respect of its retained interest in the Fund.
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