Meritage Hospitality Group Inc. announced it has commenced construction on store number 4, its first Taco John's location in Ohio. The Company, under terms of a development agreement, will initially build 50 new Taco John's restaurants by 2026, 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 $100 million in the initial 50 Taco John's store roll-out through a combination of cash on hand and credit facilities.