September 16, 2008 |
Shareholders of Wendy's International Inc. and Triarc Cos. approved a $2.34-billion deal that would make Wendy's, the nation's No. 3 hamburger chain, a part of billionaire investor Nelson Peltz's empire. Directors of both companies had already approved the transaction. Atlanta-based Triarc operates the Arby's fast-food chain and is owned by Peltz. Triarc said in April that it would buy Dublin, Ohio-based Wendy's for $26.78 a share in an all-stock deal.
December 13, 1994 |
Arby's Won't Buy Long John Silver's: Citing higher interest rates, the parent of the roast beef restaurant chain called off its planned purchase of the seafood restaurants. Triarc Cos.' plan to buy Lexington, Ky.-based Long John Silver's for $525 million would have created the sixth-largest fast-food company in the country.
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.
October 30, 1996 |
The owner of Royal Crown and Mistic soft drinks and Arby's restaurants said it plans to spin off its beverage and fast-food businesses, leaving itself with energy and textile operations. Triarc Cos. said the move will make it easier for the new food and drink operation to raise money for expansion. The new company, which has yet to be named, represents products that account for about 65% of the $1 billion in revenue that Triarc expects to generate this year.
March 28, 1997 |
Closing one of the worst flops in corporate-merger history, Quaker Oats Co. agreed Thursday to sell Snapple Beverage Corp. to Triarc Cos. for $300 million, only 27 months after Quaker spent $1.7 billion to buy the maker of trendy drinks. The Quaker-Snapple fiasco joins such ill-fated business marriages as AT&T Corp. and computer maker NCR and General Electric Co. and defunct brokerage house Kidder, Peabody & Co.
October 13, 1998 |
Triarc Cos., owner of Snapple drinks and Arby's restaurants, said Chairman Nelson Peltz and President Peter May on Monday offered to take the company private at $18 a share, or about $440 million. Triarc said its directors formed a special committee to evaluate the buyout offer, which is for an unspecified mix of cash and securities. Investors said they're not surprised by the offer from Peltz and May, two proteges of junk-bond trader Michael Milken with a history of buying assets on the cheap.