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.