CALIFORNIA | LOCAL
April 12, 1994
The owner of an Arby's Restaurant here has been indicted for allegedly paying an Internal Revenue Service agent $10,000 to erase $100,000 in taxes, penalties and interest. The five-count indictment, announced Monday by federal officials, was filed in Los Angeles against David Chiang, 41, the owner and president of East Hill Management Corp., doing business as Arby's Restaurant.
August 7, 1990 |
Horn & Hardart Co. said today it has sold its 22 Arby's fast-food franchises in South Florida to Atlanta-based Arby's Inc. for $5 million. With the sale, Horn & Hardart closed out its restaurant operations in Florida. Horn & Hardart--which made the self-serve automat famous--previously has said it is exiting the restaurant business to concentrate on a mail-order division.
September 6, 1989
Leonard H. Roberts has been fired as president and chief executive of Arby's Inc., a few hours after announcing he had broken ranks with Miami financier Victor Posner over a $200-million buyout offer from a group of the fast-food restaurant chain's franchisees. Roberts, who indicated that he favored the buyout offer that was rejected by Posner, sent a sharply worded letter to Posner on Monday in which he resigned as vice chairman and a director of Posner's DWG Corp.
September 23, 1994 |
The pending merger of the Arby's and Long John Silver's restaurant chains is the most visible example yet of a trend in the industry: serving two brands of food under a single roof. Triarc Cos., corporate parent of Arby's, said Wednesday it has agreed to buy Long John Silver's Restaurants Inc. for $525 million in cash, a deal that would create the nation's sixth-largest fast-food chain, with $2.5 billion in annual revenue and 4,250 locations.
January 20, 2005 |
Triarc Cos. is in talks to merge its Arby's chain with its largest franchisee, RTM Restaurant Group, which would be followed by an initial public offering of stock for the combined unit. New York-based Triarc franchises the chain and operates about 235 Arby's restaurants in the United States. RTM operates and franchises more than 700 restaurants. Triarc said it planned to be the majority owner of the combined entity. Some of the IPO proceeds would be used to pay the owners of RTM.