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Pizza Pizza posts loss on founder's $20M donation to charity

January 2, 2006

Toronto Star: Michael Overs, founder of the 500-unit Pizza Pizza chain, made a CAN $20 million donation to charity that caused the privately held company to post a net loss of CAN $7 million for fiscal 2005, which ended Oct. 2.

Overs set up the Tesari Charitable Foundation in September but there was no announcement because the 66-year-old Toronto resident is "a very private person," said Pizza Pizza Ltd. chief financial officer Curt Feltner. "He just does not like to make major announcements about his personal givings."

For fiscal 2004, the company earned CAN $2.2 million

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