Meritage Hospitality Group Inc. announced it has commenced operation of its first Taco John's location in Wyoming, Michigan. The Company plans to build 50 new Taco John's restaurants by 2026 under the terms of a development agreement, 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.