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): October 25, 2000
TRIARC COMPANIES, INC.
(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 No.)
incorporation)
280 Park Avenue
New York, New York 10017
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 451-3000
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(Former Name or Former Address, if
Changed Since Last Report)
Item 5. Other Events.
On October 25, 2000, Triarc completed the sale of all the outstanding
capital stock of the Snapple Beverage Group to affiliates of Cadbury Schweppes
plc at an enterprise value of approximately $1.45 billion.
The transaction includes the sale of Snapple Beverage Group's premium
beverage business - Snapple(R), Mistic(R) and Stewart's(R) - and soft drinks
concentrates business - Royal Crown(R), Diet Rite(R), RC Edge(R) and Nehi(R) -
for approximately $910 million in cash plus the assumption of approximately $420
million of debt. In addition, payments of approximately $120 million will be
made by Snapple Beverage Group with respect to employee options following the
closing. Approximately $450 million of the cash received was used to repay
outstanding amounts under Snapple's existing credit facilities.
Following the closing, Triarc has in excess of $400 million of cash and
investments. Triarc is evaluating options for the use of its significant cash
position, including acquisitions, share repurchases and investments.
Cadbury Schweppes does not have any material relationship with the
Registrant or any of its affiliates, any director or any officer of the
Registrant or any associate of any such director or officer.
A copy of the Agreement and Plan of Merger relating to the sale of the
Snapple Beverage Group was previously filed by the Registrant in its Current
Report on Form 8-K filed on September 20, 2000. A copy of the press release with
respect to the closing of the transaction is being filed herewith.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99.1 Press Release dated October 25, 2000
SIGNATURES
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: October 30, 2000 By: BRIAN L. SCHORR
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Brian L. Schorr
Executive Vice President
and General Counsel
EXHIBIT
Exhibit
No. Description Page No.
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99.1 Press release dated October 25, 2000
