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Thursday, 04 October 2012 01:18

Meritage Hospitality acquires Wendy's restaurants in North and South Carolina

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GRAND RAPIDS -- Restaurant operator Meritage Hospitality Group Inc. announced it has acquired three Wendy's restaurants in the Charlotte, N.C. designated market area. 

The Grand Rapids-based company, which operates 92 restaurants in five states, said the acquisitions would be accretive and would add approximately $4 million in annual sales. Meritage reported net income from continuing operations of $2.7 million on sales of $91.9 million in fiscal 2011. The company employs approximately 3000.

Meritage also affirmed its commitment to executing on its "150 x 2015" growth plan, which targets expanding to 150 total restaurants in existing and new markets.  Meritage, which trades on the over-the-counter market, is the only publicly traded Wendy's franchisee. The company also operates four casual dining restaurants in Michigan under the Twisted Rooster and Crooked Goose names.

Read 2373 times Last modified on Monday, 28 January 2013 12:10
Brian Edwards

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