Toronto Stock Exchange: BPF.UN
Mark G.
Pacinda to retire as President & CEO of Boston Pizza
International Inc. and Director & CEO of Boston Pizza GP Inc. –
Jordan Holm named as
President
VANCOUVER, Oct. 11, 2017
/CNW/ - Boston Pizza Royalties Income Fund (the "Fund") and
Boston Pizza International Inc. ("BPI") announced today that
Mark G. Pacinda will retire from his
role as the President & Chief Executive Officer of BPI on
October 31, 2017. In conjunction with this departure,
Mr. Pacinda will also resign as a Director and the Chief Executive
Officer of Boston Pizza GP Inc., the managing general partner of
Boston Pizza Royalties Limited Partnership, administrator of the
Fund (TSX: BPF.UN) and as an officer of certain subsidiaries of
BPI.
Mr. Pacinda joined BPI in 1997 and has held several senior
roles within the organization including Executive Vice President,
Chief Operating Officer, President and Chief Executive Officer.
He has also been a Director and the Chief Executive Officer
of Boston Pizza GP Inc. since 2011 and a board member of
Restaurants Canada since 2006.
"Mark has made significant contributions during his 20 years
with BPI including his leadership role in Boston Pizza's expansion
into Ontario, Quebec and the Atlantic provinces and by
having Boston Pizza International consistently recognized as one of
"Canada's 50 Best Managed
Companies." Mark has built an outstanding management team and
worked together with them to make Boston Pizza Canada's #1 casual
dining brand with more than 380 locations coast-to-coast,"
said BPI's Chairman and Owner, Jim
Treliving. "I want to thank Mark for his years of service
and wish him all the best with his retirement plans."
Jordan Holm, currently the
Executive Vice President, Marketing and Communications of BPI, will
succeed Mr. Pacinda as the President of BPI and as a Director and
the President of Boston Pizza GP Inc. Mr. Holm joined BPI in
2006 and has held several senior roles within the organization
including Senior Vice President, Investor Relations & Corporate
Communications and a Director of the Boston Pizza Foundation.
"We are fortunate to have an experienced and talented executive
team at Boston Pizza to step up following Mark's departure.
Jordan has distinguished himself in various roles over the last
decade with our company and I'm confident that he will lead our
organization successfully forward," said Mr. Treliving. "I'm
excited about the future opportunities for Boston Pizza."
ABOUT US
The Fund is a limited purpose open ended trust with an
excellent track record for investors since its IPO in 2002.
Including the August 2017
distribution which was paid on September 29, 2017, the Fund
has delivered 18 distribution increases and 182 consecutive monthly
distributions to unitholders totalling
$266.6 million or $18.80 per unit since 2002. The Fund earns
revenue based on the franchise system sales of the 383 Boston Pizza
restaurants included in the Fund's royalty pool.
BPI is Canada's number one
casual dining brand with annual gross sales in excess of
$1.0 billion serving more than 45
million guests through over 380 mainly franchisee operated
restaurants. The Boston Pizza brand has successfully existed
for over 50 years since opening its first restaurant in
Edmonton, Alberta in 1964.
BPI has been recognized as a Platinum Member of Canada's 50 Best Managed Companies and has
been a Franchisees' Choice Designation winner for six consecutive
years.
Certain information in this press release constitutes
"forward-looking information" that involves known and unknown
risks, uncertainties, future expectations and other factors which
may cause the actual results, performance or achievements of the
Fund, Boston Pizza Holdings Trust, Boston Pizza Royalties Limited
Partnership, Boston Pizza Holdings Limited Partnership, Boston
Pizza Holdings GP Inc., Boston Pizza GP Inc., BPI, Boston Pizza
Canada Limited Partnership, Boston Pizza Canada Holdings Inc.,
Boston Pizza Canada Holdings Partnership, Boston Pizza restaurants,
or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Fund or
management of BPI expects or anticipates will or may occur in the
future, including such things as, Mr. Pacinda retiring
effective October 31, 2017, Mr. Holm succeeding Mr.
Pacinda as the President of BPI and as a Director and the President
of Boston Pizza GP Inc. and that Mr. Holm will lead BPI
successfully forward are forward-looking information. When
used in this press release, forward-looking information may include
words such as "is expected", "will", "continue" or "to be" and
other similar terminology. Risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from any future results, performance or
achievement expressed or implied by the forward-looking information
contained herein, relate to (among others) competition, demographic
trends, consumer preferences and discretionary spending patterns,
business and economic conditions, legislation and regulation,
distributable cash and reliance on operating revenues, accounting
policies and practices, the results of operations and financial
condition of BPI and the Fund, as well as those factors discussed
under the heading "Risks and Uncertainties" in the most recent
Annual Information Form of the Fund. This information reflects
current expectations regarding future events and operating
performance and speaks only as of the date of this press release.
Except as required by law, the Fund and BPI assume no
obligation to update previously disclosed forward-looking
information. For a complete list of the risks associated with
forward-looking information and our business, please refer to the
"Risks and Uncertainties" and "Note Regarding Forward-Looking
Information" sections included in the Fund's Management's
Discussion and Analysis for the Period available at www.sedar.com
and www.bpincomefund.com.
The Trustees of the Fund have approved the contents of this news
release.
SOURCE Boston Pizza Royalties Income Fund