“We are very pleased to announce the opening of our first Taco John’s restaurant, an important milestone in our 5-Year development plan. The Company expects this first location to become a certified training facility, to support our multi-state development of Taco John’s,” stated CEO
The Company plans to build 50 new Taco John’s restaurants by 2026 under the terms of a development agreement, with options to develop an additional 150 restaurants. The development agreement grants the Company exclusive development rights to operate in multiple states and provides for significant economic incentives.
The Company estimates it will invest approximately
“We have placed the people and resources in position to scale Taco John’s across multiple states, leveraging our best-in-class technology and accounting platforms. This is an exciting new growth opportunity for the Company and employees, one that we believe will provide long-term growth for investors.
2023 Strong Growth Ahead
The Company has allocated significant capital resources to both the Wendy’s and Taco John’s brands in 2023. The Company’s combined development agreements include a remaining commitment to build 77 new locations through 2026.
About the Company
The Company’s current and publicly available information pursuant to SEC Rule 15c2-11 and FINRA Rule 6432 can be found at www.otcmarkets.com, under the stock symbol MHGU/Disclosures or the Company’s website, www.meritagehospitality.com.
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.
CONTACT:
616-776-2600 Ext 1012
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