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) December 11, 1999
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 (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
280 Park Avenue
New York, NY 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 December 11, 1999, Snapple Beverage Corp., a subsidiary of Triarc
Companies, Inc., signed a letter of intent to acquire Snapple Distributors of
Long Island, Inc. for a cash purchase price of $16.8 million, subject to certain
post-closing adjustments. Snapple also agreed to pay $2.0 million over a ten
year period in consideration for a three-year non-compete agreement by the
sellers. The acquisition is expected to close in early 2000 and is subject to
customary closing conditions, including the execution of definitive
documentation, the satisfactory completion of due diligence and the expiration
of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976. Accordingly, we can not assure you that the purchase of Long Island
Snapple will be completed or, if completed, that Long Island Snapple will be
successfully integrated with the operations of Snapple and its subsidiaries.
Long Island Snapple is the largest non-company owned distributor of
Snapple products and a major distributor of Stewart's products. With a
distribution territory including Nassau and Suffolk counties, Long Island
Snapple had net sales of approximately $28 million in 1998.
A copy of the letter of intent and a press release relating to the
foregoing transaction are being filed as exhibits hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
10.1 Letter of intent dated December 11, 1999 among Snapple
Distributors of Long Island, Inc., the shareholders of
Snapple Distributors of Long Island, Inc. and Snapple
Beverage Corp.
99.1 Press Release dated December 13, 1999.
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: BRIAN L. SCHORR
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Brian L. Schorr
Executive Vice President
and General Counsel
Dated: December 14, 1999
EXHIBIT INDEX
Exhibit
No. Description Page No.
10.1 -- Letter of intent dated December 11, 1999
among Snapple Distributors of Long Island,
Inc., the shareholders of Snapple Distributors
of Long Island, Inc. and Snapple Beverage Corp.
99.1 -- Press Release dated December 13, 1999