VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/11/15 -- Boston Pizza International Inc. ("BPI") announced that Boston Pizza Canada Limited Partnership ("BPCLP") returned $12.7 million of capital to BPI on Class 2 general partnership units of BPCLP held by BPI (the "Return of Capital"). The Return of Capital represents the remaining amount that BPCLP was, under the terms of the limited partnership agreement governing it, required to distribute to BPI from the purchase price received by BPCLP in respect of the acquisition by Boston Pizza Royalty Income Fund (the "Fund") (TSX: BPF.UN) of a limited partnership interest in BPCLP that completed on May 6, 2015. BPI has used the Return of Capital to repay certain indebtedness owing by it to its parent company.
BPI is a privately held company and licensee of the Boston Pizza trade marks from Boston Pizza Royalties Limited Partnership ("BPRLP"). The Return of Capital is separate and distinct from distributions declared by the Fund to unitholders of the Fund, and accordingly, was paid to BPI and not unitholders of the Fund.
BPI currently holds a 12.7% interest in the Fund indirectly through its interest in BPRLP and BPCLP.
® Boston Pizza Royalties Limited Partnership. All Boston Pizza registered Canadian trade-marks and unregistered Canadian trade-marks containing the words "Boston", "BP", and/or "Pizza" are trade-marks owned by the Boston Pizza Royalties Limited Partnership and licensed by the Boston Pizza Royalties Limited Partnership to Boston Pizza International Inc.
© Boston Pizza International Inc. 2015
Senior Vice President of Investor Relations