Fort Capital Partners is pleased to announce the closing of the internal reorganization of Boston Pizza International Inc. (“BPI”), providing for the orderly succession of ownership at Canada’s largest franchisor of casual dining restaurants. Under the steps of the transaction, Jim Treliving became the owner of 100% of BPI while George Melville became the largest individual holder of units of the Boston Pizza Royalties Income Fund (the “Fund”).
The Trustees of the Fund retained Fort Capital to help negotiate elements of the transaction with BPI and provide advice with respect to certain consents that were required from the Fund by BPI.
Boston Pizza Royalties Income Fund owns the Boston Pizza trademarks, franchise agreements, supplier contracts and related agreements for Canada. The Fund licenses the right to use the trademarks to Boston Pizza in exchange for a monthly revenue share payment of 5.5% of the franchise sales of Boston Pizza restaurants. The structure of the Fund provides Unitholders with top-line royalties from Boston Pizza restaurants.
Boston Pizza International is a casual dining brand with more than 380 restaurants in Canada serving more than 100 unique menu items such as pizzas, pastas, burgers and wings. Boston Pizza serves more than 45 million guests each year, with annual system-wide sales in excess of $1 billion. Boston Pizza is Canadian-owned and operated, with nearly 50 years of proven success and franchise growth.