Exhibit 99.1







                                                                  PRESS RELEASE

CONTACT: Martin M. Shea                                   For Immediate Release
         Triarc Companies, Inc.
         212/451-3030



           TRIARC COMPLETES ACQUISITION OF SNAPPLE BEVERAGE CORP.



NEW  YORK,  New  York  -- May 22,  1997 --  Triarc  Companies,  Inc.  (NYSE:TRY)
announced  today that is has become the market  leader in the  premium  beverage
category with the completion of its  acquisition  of Snapple  Beverage Corp. for
$300 million in cash.

Snapple, which markets and distributes ready-to-drink teas and juice drinks, had
1996 sales of approximately $550 million, is considered the market leader in the
juice drinks  category.  Snapple,  together  with Mistic Brands and Royal Crown,
which Triarc also owns,  will operate as part of the Triarc Beverage Group which
had sales in 1996 of $310 million. Triarc expects the acquisition to enhance its
earnings before interest,  taxes,  depreciation  and  amortization  (EBITDA) for
fiscal 1997.

The $380  million bank  financing  for the Snapple  acquisition  was provided by
affiliates of Donaldson Lufkin & Jenrette and Morgan Stanley, Inc. Proceeds from
the  financing  were used to finance the Snapple  acquisition  and to  refinance
existing Mistic indebtedness of approximately $70 million.






Triarc had previously  announced a plan to offer up to approximately  20% of the
shares of its beverage and restaurant  business to the public through an initial
public  offering and to spin off the remainder of the shares of such  businesses
to Triarc  shareholders.  Triarc announced today that the acquisition of Snapple
and other complex  issues has resulted in a decision at this time not to proceed
with such plan.

Triarc will have annual sales of nearly $1 billion  through its consumer  brands
in beverages  (Snapple,  Mistic and Royal Crown), and restaurants  (Arby's).  In
addition, Triarc has annual sales of $71 million in specialty dyes and chemicals
(C.H.  Patrick) and an equity  interest in  liquefied  petroleum  gas  (National
Propane) which has annual sales of nearly $250 million.

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