Meritage Announces Opening of Atlanta Wendy's Restaurant; Company's 121st Restaurant

GRAND RAPIDS, MI--(Marketwired - Mar 26, 2014) - Meritage Hospitality Group, Inc. (OTCQX: MHGU), one of the nation's premier restaurant operators, announced the opening of a new Wendy's in Stockbridge, GA, located in the Atlanta metropolitan area. The new restaurant represents the Company's 121st restaurant in operation. 

The Company reiterated its 2014 Outlook, which included

  • Sales growth of 10% to 15%
  • Net Income growth of 50% to 55%
  • EBITDA growth (a non-GAAP measure) of 30% to 35%

Meritage Hospitality Group, Inc. is headquartered in Grand Rapids, MI and employs a workforce of approximately 3,400 people. The Company owns and operates 121 restaurants in six states including Florida, Georgia, Michigan, North and South Carolina and Virginia.

The Company's public filings can be viewed at www.otcqx.com under the stock symbol MHGU, or at the Company's website, www.meritagehospitality.com.

SAFE HARBOR STATEMENT

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

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