Boston Pizza Royalties Income Fund (OTCMKTS: BPZZF) is an unincorporated, closed-end, limited-purpose trust that holds the exclusive right to receive royalty payments from operators of Boston Pizza restaurants. The fund’s sole asset is the royalty interest in the Boston Pizza system, which entitles it to a fixed percentage of gross sales generated by all franchised units. This royalty-based revenue model is designed to provide investors with stable and predictable cash flows, underpinned by the performance of Canada’s largest casual-dining brand.
Boston Pizza is a full-service restaurant chain known for its broad menu, which includes pizza, pasta, ribs, burgers, salads and shareable appetizers. In addition to dine-in, the brand offers take-out and delivery services, supported by an evolving digital platform and mobile ordering app. The network spans Canada and the United States, with over 400 locations across 11 provinces and multiple U.S. states, making it a significant player in North American casual dining.
Founded in Edmonton, Alberta in 1964 by entrepreneurs Jim Treliving and George Melville, Boston Pizza has grown through a franchise model and a focus on community engagement and sports-bar hospitality. The Royalties Income Fund was established in 2002 to monetize the brand’s royalty stream and provide investors with access to the food-service sector’s cash-flow characteristics. Boston Pizza International Inc., which manages the system on behalf of the fund, brings to bear decades of operational expertise in franchise development, marketing and supply-chain management.
The management team overseeing the fund’s interests is led by senior executives of Boston Pizza International, including President and Chief Executive Officer Alex Macedo, who has guided the brand’s digital modernization and menu innovation initiatives. By focusing on consistent brand standards, strategic expansion and ongoing product development, the fund seeks to capitalize on the long-standing popularity of Boston Pizza and the enduring demand for casual-dining experiences in North America.
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