According to a news report from BeTheBoss.ca, “Pizza Pizza, the behemoth central Canadian pizza maker, has launched a cross-country food fight aiming to take a bite out of the West’s burgeoning fast-food market through the acquisition of Edmonton-based Flying Pizza 73 Inc.”
“The deal, carrying a pricetag of $70.3 million, will give the Pizza Pizza Royalty Income Fund (TSX: PZA.UN) the “intellectual property” of Pizza 73 and its 48-restaurant system, and a nine per cent royalty on sales,” the article said. “The announcement marks a step in Pizza Pizza’s longtime plan to move outside Ontario and Quebec, where it is the dominant provider with 532 locations.”
