GRAND RAPIDS — Restaurant operator Meritage Hospitality Group Inc. plans to invest $100 million to develop 40 new Wendy’s restaurants.
Meritage Hospitality Group Inc. continues on a growth trajectory, even after feeling the effects of a devastating hurricane last month.
Here is the MiBiz Growth Report for May 30, 2017:
• M&A: Grand Rapids-based FEDCom Credit Union, which has three offices in the Grand Rapids area with 7,654 members and assets of $67.6 million, proposed to merge into Midland-based Members First Credit Union. Members First has eight offices, 50,680 members and $480 million in assets. The deal was listed in a monthly activity report issued by state regulators.
As it continues its streak of acquisitions, Meritage Hospitality Group Inc. (OTCQX: MHGU) remains on a growth trajectory.
Here is the MiBiz Growth Report for April 3, 2017.
• M&A: Industrial and fastener distributor Manufacturer’s Supply Co. has signed an agreement to sell certain assets to Winona, Minn.-based Fastenal Co. (Nasdaq: FAST). Fastenal expected to close on the deal for Manufacturer’s Supply, or Mansco, at the end of March, after this report went to press. Terms of the deal were not disclosed. Hudsonville-based Mansco generated roughly $50 million in sales in 2016 from locations in Michigan, Alabama and Texas. It was founded in 1928. President Jim Mol has operated Mansco for the last 25 years. Mansco supplies a range of fastener products “with a particularly strong market position with commercial furniture OEMs,” a market to which Fastenal “has not meaningfully contributed in the past.”
As part of a $111.8 million string of acquisitions, Meritage Hospitality Group Inc. (OTCQX: MHGU) will take on eight new Wendy’s locations in Michigan, including its first locations in southeast Michigan.
Here is the MiBiz Growth Report for Feb. 20, 2017.
• M&A: AMI Entertainment Network LLC in Grand Rapids has acquired NSM Music Group Ltd., a Leeds, U.K.-based manufacturer of jukeboxes. The deal for NSM Music marks the first overseas expansion for AMI, a provider of digital jukeboxes and other products for the nightclub and bar industry, according to a statement. Founded in 1951 in Germany, NSM will maintain its independent branding and headquarters. General Manager Martin Agabeg will report to AMI President Mike Maas. Terms of the deal were not disclosed. Going forward, AMI plans to invest in NSM and enhance the company’s products and service, according to a statement.
Fast food and casual restaurant operator Meritage Hospitality Group Inc. (OTCQX: MHGU) said yesterday it has initiated a string of acquisitions that will continue to grow its operations.