July 6, 2007 |
Fast-food chain operator Triarc Cos. said billionaire investor Nelson Peltz resigned as chairman and chief executive and would be succeeded as CEO by Roland Smith, chief executive of Arby's Restaurant Group Inc. The changes had been expected as part of a restructuring plan and were outlined in a Securities and Exchange Commission filing May 1. Triarc is repositioning itself as a pure-play restaurant operator from a more diversified investment manager.
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.
September 19, 2000 |
Cadbury Schweppes, the British company known for its bubbly tonic water, agreed Monday to buy the Snapple line of tea and juice drinks from Triarc Cos. The beverage and candy maker would also add Royal Crown, Diet Rite and Nehi to its roster of carbonated soft drinks led by 7-Up and Dr Pepper under the deal announced Monday with Triarc, based in New York. That would boost Cadbury's share of the $58-billion U.S. market for carbonated beverages by about 1.
March 11, 1999 |
Triarc Cos., the owner of Arby's restaurants and Snapple and RC Cola beverages, said its two top executives abandoned their offer to take the company private for $18 a share, or $420 million, as investors held out for a higher bid. Chief Executive Nelson Peltz and President Peter May, who already hold about 6 million shares, made their offer Oct. 12. Investors then sued Triarc, claiming they would have been shortchanged by the proposal.
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.
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.