GRAND RAPIDS, Mich., May 10, 2023 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, announced today that it has acquired an additional 25 Wendy’s restaurants located in the North Carolina and Virginia market areas.“The acquisition of these 25 Wendy’s restaurants is consistent with the Company’s 5-year growth plan to acquire an operating base up to 400 Wendy’s and build new Wendy’s restaurants. With today’s acquisition, the Company is operating 385 restaurants across 16 states. We will immediately integrate the new restaurants into our operating and accounting platforms as well as include them in our Wendy’s remodeling program, designed to modernize restaurants and enhance the overall guest experience,” stated Chief Executive Officer, Robert Schermer, Jr.The Company funded the acquisition with a combination of cash, equity and bank financing and expects the 25 additional restaurants to add approximately $42.0 million in annual sales and be accretive to earnings going forward.“The Company is a leader in new-restaurant development within the Wendy’s system and has a commitment to build 52 new Wendy’s restaurants by the end of 2025 under the Wendy’s Ground Breaker development program. New Wendy’s restaurants continue to provide the Company with a strong return on investment, as guests reward us for contemporary restaurant designs and digital enhancements. Restaurant acquisitions, renovations and new restaurant development are important components of our growth-oriented business model, providing unique long-term opportunities to employees and investors,” added Schermer.2023 Outlook: Strong Growth Ahead:Sales +10% to +20%Earnings from Operations

GRAND RAPIDS, Mich., Dec. 21, 2022 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today announced that the Company has entered into a definitive agreement to acquire a portfolio of Wendy’s restaurants located in the Mid-West.“We are very excited by this acquisition opportunity and remain on pace for a record number of new Wendy’s location openings in 2022 and 2023. Acquisitions, renovations, and new restaurant development are integral parts of our Wendy’s restaurant business model as we grow into new market areas. The Company has successfully completed 27 Wendy’s acquisitions over the past decade and remains a leader in new restaurant development within the Wendy’s system. This year the Company was recognized by the Wendy’s brand with the ‘U.S

GRAND RAPIDS, Mich., Dec. 20, 2022 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today announced that the Company has entered into a definitive agreement to acquire a portfolio of 43 Wendy’s restaurants located in the Mid-West. “We are very excited by this acquisition opportunity and remain on pace for a record number of new Wendy’s location openings in 2022 and 2023. Acquisitions, renovations, and new restaurant development are integral parts of our Wendy’s restaurant business model as we grow into new market areas. The Company has successfully completed 27 Wendy’s acquisitions over the past decade and remains a leader in new restaurant development within the Wendy’s system