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Friday, 16 January 2015 08:45

Meritage acquires nine Tallahassee-based Wendy’s restaurants

Written by  MiBiz Staff
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 Grand Rapids-based Meritage Hospitality Group Inc. (OTCQX: MHGU) has acquired nine Wendy’s restaurants in Tallahassee, Fla. from a franchisee, the company said in a statement.

The restaurants are expected to add $13.2 million in annual sales for Meritage. The deal is also expected to be accretive to Meritage’s consolidated earnings. The company funded the deal via cash on hand and credit.

Meritage plans to update the restaurants to Wendy’s new corporate image program, as well as upgrade the stores to its point-of-sale systems.

The Grand Rapids-based company has other Wendy’s franchises in Florida, including in Jacksonville. Meritage owns and operates 151 quick-service or casual dining restaurants in Florida, Georgia, Michigan, North Carolina, South Carolina and Virginia. It maintains a workforce of 5,100 people across that multi-state footprint.

Read 5504 times Last modified on Monday, 08 June 2015 11:17

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