Wendy's-O'Charley's group Meritage eyes equity deal

Nation's Restaurant News,  August 13, 2007  

• E-mail
• Print
• Link

GRAND RAPIDS, MICH. -- Meritage Hospitality Group Inc., a franchisee of the Wendy's and O'Charley's chains, said it intends to explore "value-creating alternatives for our shareholders"-corporate-speak for a possible sale or other means of recapitalization.

President and chief executive Robert E. Schermer Jr. said "a private-equity scenario" might be "preferable" because it would afford Meritage more flexibility in expanding its Wendy's operations, comprising about 50 Michigan outlets. The company, which is Wendy's only publicly traded franchisee, also has some five O'Charley's units in Michigan.

COPYRIGHT 2007 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2008 Gale, Cengage Learning