Vancouver, British Columbia-based Boston Pizza International Inc. has adjusted its Royalties Income Fund to include the royalties from seven new restaurants which opened across Canada in 2011.
All of the restaurants are full service.
Also during that time period, from Jan. 1 to Dec. 31, 2011, two full-service restaurants and two Quick Express locations were permanently closed.
With the adjustment for these openings and closures during 2011, royalties are now payable to the fund from 343 Boston Pizza restaurants.
"We are very pleased to have added seven new locations in 2011, bringing our total to a remarkable 343 Boston Pizzas across 10 provinces and two territories. Boston Pizza is proud to serve more customers in more locations than any other full-service restaurant brand in Canada," said Mark Pacinda, president and CEO of Boston Pizza.
The estimated annual gross franchise revenue for the seven new restaurants in 2012 is $11.7 million.
Read more about franchising and growth.