On October 4, 2023, Diversified Royalty Corp. announced its acquisition of the trademarks and certain other intellectual property rights of BarBurrito Restaurants Inc. in Canada for $108 million. Pursuant to the transaction, Diversified Royalty Corp. licensed the BarBurrito Rights back to BarBurrito for 99 years which is in exchange for an initial royalty payment of $8.3 million per annum.
Diversified Royalty Corp. is a multi-royalty corporation that is focused on acquiring royalties from businesses and franchisors across North America.
BarBurrito Restaurants Inc., founded in 2005 has over 260 restaurants across Canada.
Osler, Hoskin & Harcourt LLP advised Diversified Royalty Corp. with a team consisting of Brad Newby, Trevor Scott, Minji Park, Peter Horemans and Lucas Hodgson, (Corporate), Dominic Mochrie and Ryan McCabe (Franchise and Distribution), Katherine Goddard (Intellectual Property) and Sandra Sbrocchi and Sergey Stefanishin (Osler Works – Transactional).