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) January 21, 2003
TRIARC COMPANIES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-2207 38-0471180
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(State or other (Commission (I.R.S. Employer
jurisdiction of File No.) Identification No.)
incorporation of
organization)
280 Park Avenue
New York, NY 10017
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (212) 451-3000
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(Former name or former address, (Zip Code)
if changed since last report)
Item 7. Exhibit
(c) Exhibit
99.1 Press release dated January 21, 2003.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf by the undersigned
hereunto duly authorized.
TRIARC COMPANIES, INC.
By:Stuart I. Rosen
___________________________
Stuart I. Rosen
Senior Vice President
and Secretary
Dated: January 21, 2003
EXHIBIT INDEX
Exhibit
No. Description Page No.
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99.1 Press release dated January 21, 2003.
EXHIBIT 99.1
For Immediate Release
CONTACT: Anne A. Tarbell
Triarc Companies, Inc.
212/451-3030
www.triarc.com
TRIARC EXTENDS $50 MILLION STOCK REPURCHASE PROGRAM
New York, NY, January 21, 2003 -- Triarc Companies, Inc. (NYSE: TRY)
announced today that it has extended its current $50 million Class A Common
Stock repurchase program until January 18, 2004 and replenished the amount
available under the program to permit Triarc to purchase up to $50 million of
Class A Common Stock on or after January 18, 2003. Under the existing program,
Triarc has repurchased approximately 438,500 shares at an aggregate cost of
approximately $10.5 million. The $10.5 million replenishment and 12 month
extension will allow the Company to continue repurchasing Class A shares when
and if market conditions warrant and to the extent legally permissible.
Commenting on the share repurchase program, Nelson Peltz, Triarc's Chairman
and Chief Executive Officer, said: "We continue to carefully evaluate our
options for the use of Triarc's significant cash and investment position. The
extension of our share repurchase program will allow us to repurchase additional
Triarc shares going forward. Our goal is to create value for our shareholders."
Over the last five years, Triarc has repurchased approximately $180 million
of its stock, including approximately 2.6 million Class A Common Shares for
approximately $51.1 million and all of the then outstanding approximately six
million Class B Common Shares for approximately $127 million.
Triarc currently has 20,391,770 shares of Class A Common Stock outstanding.
Triarc is a holding company and through its subsidiaries, the franchisor of
the Arby's(R) restaurant system and an operator of approximately 240 Arby's
restaurants located in the United States.
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Note to Follow
Note
1. There can be no assurance that any share repurchases will be made in the
future.