Meritage Appoints Gary Rose as President and Tracey Smith as Chief Financial Officer

GRAND RAPIDS, Mich., June 01, 2016 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX:MHGU), one of the nation’s premier restaurant operators, today announced that Gary Rose has been appointed President of the Company, in addition to his current role as Chief Operating Officer. The Company also announced that Tracey Smith has been appointed Vice President and Chief Financial Officer. Rose has served as CFO & COO for the past eleven years.

“Gary has a wealth of operational and financial experience, and has been a key member of the executive team as we have grown from 50 to 165 restaurants stated Robert E. Schermer, Jr. the Company’s CEO. We are expanding our leadership team in preparation for our next five-year growth plan, with the stated goal of “285 restaurants by 2021,” added Mr. Schermer.

Tracey Smith has been appointed Chief Financial Officer after serving the past 11 years as Controller and Director of Finance for the Company. Ms. Smith has guided the company through rapid-paced growth and will report to the President & COO. 

The company continues to distinguish itself as a performance leader and innovator in the quick-service and casual restaurant segments, achieving best in class results through strategic acquisitions, real estate design and development innovations, and the development of people committed to operational excellence. The Company continues to evaluate acquisition opportunities where it can leverage its unique, web-based operating platform and performance-based culture.

About Meritage

Meritage is one of the nation’s premier restaurant operators, currently operating 165 quick service and casual dining restaurants in seven states.  The Company is headquartered in Grand Rapids and employs a workforce of approximately 5,200.  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  The Company continues to seek tuck-in acquisitions and new restaurant roll-out opportunities where it can leverage its web-based operating platform and development skill-set within the Wendy’s franchise system and casual dining segment.

SAFE HARBOR STATEMENT

Certain information in this news 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.

Lindsay Stone 
Meritage Hospitality Group Inc.
616/776-2600 ext. 1111