Meritage Hospitality Group Inc. announced it has entered into an exclusive multi-unit development agreement with Taco John’s to build 50 Taco John’s restaurants in the U.S. The terms of the development agreement call for the Company to build 50 new Taco John’s restaurants by 2026, with exclusive options to develop an additional 150 restaurants. The development agreement provides for significant economic incentives, including royalty and marketing fee benefits, subject to the Company fulfilling its development schedule and customary Taco John’s real estate approvals. The Company has also been granted exclusive rights to develop in several states, subject to fulfilling certain development agreement criteria. The Company estimates that it will invest approximately $100 million in the initial 50-store development agreement through a combination of cash on hand and credit facilities.