Meritage Hospitality to Spend $100M on New Wendy’s Projects

Meritage Hospitality will build 40 new Wendy’s restaurants by 2024.

GRAND RAPIDS, MI—National restaurant operator Meritage Hospitality Group, Inc. reports it has entered a development agreement to develop 40 new Wendy’s restaurants by the end of 2024 and will invest $100 million in the new initiative.

Meritage’s development agreement is under Wendy’s incentive program that includes royalty and national marketing fee relief. The development and incentive programs are subject to Meritage fulfilling its joint capital plan to re-image 10% of its existing restaurants each year and customary Wendy’s real estate approvals. Meritage states that it plans to fund the $100 million in the development of the 40 Wendy’s restaurants through a combination of cash on hand and development credit facilities.