<PAGE>
FILED PURSUANT TO RULE 424(b)(3) REGISTRATION NO. 333-51877
PROSPECTUS SUPPLEMENT
(TO PROSPECTUS DATED JUNE 5, 1998)
TRIARC COMPANIES, INC.
$360,000,000 PRINCIPAL AMOUNT AT MATURITY OF
ZERO COUPON CONVERTIBLE SUBORDINATED DEBENTURES DUE 2018 AND
SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF THESE DEBENTURES
------------------------
This Prospectus Supplement, together with the Prospectus, is to be used by
certain holders of the securities referred to above or by their transferees,
pledgees, donees or their successors in connection with the offer and sale of
the securities referred to above. The last reported sale price of the Common
Stock on the New York Stock Exchange on September 20, 1999 was $21 15/16
per share.
This Prospectus Supplement supplements the Prospectus dated June 5, 1998
relating to the offer for resale of up to $360,000,000 aggregate principal
amount at maturity of Triarc Companies, Inc.'s Zero Coupon Convertible
Subordinated Debentures due 2018 and the shares of Common Stock issuable upon
conversion of these Debentures to include the following table under the heading
'Selling Securityholders' on page 52:
SELLING SECURITYHOLDERS
<TABLE>
<CAPTION>
PRINCIPAL AMOUNT NUMBER OF SHARES
AT MATURITY OF PERCENTAGE OF COMMON STOCK
DEBENTURES OF BENEFICIALLY OWNED
BENEFICIALLY OWNED DEBENTURES AND OFFERED
SELLING SECURITYHOLDER AND OFFERED HEREBY OUTSTANDING HEREBY(1)(2)
---------------------- ------------------ ----------- ------------
<S> <C> <C> <C>
Partner Reinsurance
Company Ltd.(3)........ 870,000 * 8,234
State Employees'
Retirement Fund of the
State of Delaware(3)... 1,930,000 * 18,267
State of Connecticut
Combined Investment
Funds(3)............... 8,090,000 2.2 76,571
Vanguard Convertible
Securities Fund,
Inc.(3)................ 5,390,000 1.5 51,016
</TABLE>
- ------------
* Less than 1.0%.
(1) Represents shares of Common Stock issuable upon conversion of the
Debentures.
(2) Assumes a conversion rate of 9.465 shares per $1,000 principal amount at
maturity and a cash payment in lieu of any fractional share interest, which
conversion rate is subject to adjustment as described under 'Description of
Debentures -- Conversion of Debentures.' Accordingly, the number of shares
of Common Stock issuable upon conversion of the Debentures may increase or
decrease from time to time. Under the terms of the Indenture, the Company is
not required to issue fractional shares of Common Stock upon conversion of
the Debentures and, in lieu thereof, will pay cash.
(3) In addition to the Debentures shown as being beneficially owned and offered
hereby, the following entities also own registered Debentures that are not
being sold hereunder: Partner Reinsurance Company Ltd. ($210,000), State of
Connecticut Combined Investment Funds ($3,615,000), State Employees'
Retirement Fund of the State of Delaware ($1,245,000), and Vanguard
Convertible Securities Fund, Inc. ($170,000).
------------------------
INVESTING IN THESE SECURITIES INVOLVES CERTAIN RISKS. SEE 'RISK FACTORS'
BEGINNING ON PAGE 14 OF THE ACCOMPANYING PROSPECTUS.
------------------------
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF
THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
THIS PROSPECTUS SUPPLEMENT IS DATED SEPTEMBER 21, 1999.
