UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) March 26, 1996
TRIARC COMPANIES, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-2207 38-0471180
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
900 Third Avenue
New York, New York 10022
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 230-3000
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(Former Name or Former Address, if
Changed Since Last Report)
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Item 5. Other Events.
On March 27, 1996, the Registrant issued a press release with respect to
the filing of a registration statement for an initial public offering of
common units by National Propane Partners, L.P., a partnership recently
formed to acquire, own and operate the business and assets of National
Propane Corporation, an indirect wholly-owned subsidiary of the Registrant.
A copy of the press release is being filed herewith as an exhibit hereto and
is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated March 27, 1996
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRIARC COMPANIES, INC.
Date: March 27, 1996 By: BRIAN L. SCHORR
Brian L. Schorr
Executive Vice President
and General Counsel
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Exhibit Index
Exhibit
No. Description Page No.
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99.1 Press release dated March 27, 1996
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EXHIBIT 99.1
PRESS RELEASE
CONTACT: Martin M. Shea For Immediate Release
Triarc Companies, Inc.
212/230-3030
TRIARC'S NATIONAL PROPANE UNIT
FILES INITIAL PUBLIC OFFERING
NEW YORK, NEW YORK -- March 27, 1996 -- Triarc Companies, Inc. (NYSE:
TRY) today announced that its National Propane subsidiary has formed a
master limited partnership (MLP), National Propane Partners, L.P., which
has filed with the Securities and Exchange Commission a registration
statement for the initial public offering of approximately 6.2 million
common units. This represents an approximate 52% interest in the MLP.
National Propane Corporation, the Triarc subsidiary, will be the general
partner of the MLP and retain an approximate 48% interest in the
partnership. The partnership is also expected to issue approximately $120
million of long-term senior secured debt. The partnership intends to use a
substantial portion of the net proceeds from the equity and debt issuances
to repay existing debt and to make certain payments and advances
aggregating approximately $110 million to Triarc.
The managing underwriters for the offering are Merrill Lynch & Co. and
Donaldson, Lufkin & Jenrette Securities Corporation. When available,
copies of the preliminary prospectus may be obtained from Merrill Lynch &
Co., 250 Vesey Street, New York, New York 10281. The offering of the
common units representing limited partner interests in the MLP is expected
to commence during the second quarter of 1996.
A registration statement with respect to the offering of the MLP's
common units has been filed with the Securities and Exchange Commission,
but has not yet become effective. The offering of the MLP units will be
made only by means of a prospectus. The MLP common units may not be sold,
nor may offers to buy be accepted prior to the time the registration
statement becomes effective. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of the MLP common units in any State in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such State.
The senior secured debt to be issued by the partnership will not be
registered under the Securities Act of 1933 and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements.
Through its four core businesses, restaurants (Arby's, Inc.),
beverages (Royal Crown Company, Inc. and Mistic Brands, Inc.), textiles
(Graniteville Company and C.H. Patrick & Co., Inc.) and liquefied petroleum
gas (National Propane Corporation), Triarc Companies, Inc. currently has
annual revenues of more than $1 billion.
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