What is the status of Boston Pizza International Inc.?
Boston Pizza International Inc. (“BPI”) is a privately held company that is the licensee of the Boston Pizza trademarks owned and licensed by the Boston Pizza Royalties Limited Partnership, an affiliate of the Fund. BPI continues to be the franchisor to Boston Pizza restaurants in Canada, providing management consulting services to Boston Pizza franchisees. BPI also holds securities exchangeable for units of the Fund that if exchanged would give BPI a 20% interest in the Fund. The number of units that BPI is entitled to receive upon exchange of these securities should, in the absence of store closures, increase as new locations are added to the royalty pool.
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- What is the status of Boston Pizza International Inc.?
