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 THEREOF ------------------------ This Prospectus Supplement, together with the Prospectus, is to be used by certain holders of the above-referenced securities or by their transferees, pledgees, donees or their successors in connection with the offer and sale of the above-referenced securities. The last reported sale price of the Common Stock on the New York Stock Exchange on September 9, 1998 was $16 1/16 per share. 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 thereof is hereby supplemented to include the following information in the table under the heading 'Selling Securityholders' on page 52: SELLING SECURITYHOLDERS 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) - ---------------------------------------- ------------------ ----------- ------------------ AAM/Zazove Institutional Income Fund, L.P................................... $ 5,800,000 1.6 54,897 Banque Paribas.......................... 3,400,000 * 32,181 Black Diamond, Ltd...................... 1,262,000 * 11,944 Black Diamond Partners, L.P............. 1,283,000 * 12,143 BZW Securities Limited.................. 50,000,000 13.9 473,250 Century National Insurance Company...... 2,700,000 * 25,555 Chrysler Corporation Master Retirement Trust(3).............................. 11,860,000 3.3 112,254 Chrysler Insurance Company - Total Return................................ 150,000 * 1,419 Delta Air Lines Master Trust(3)......... 4,310,000 1.2 40,794 Double Black Diamond Offshore LDC....... 238,000 * 2,252 Fort Dearborn Life Insurance Company.... 600,000 * 5,679 Highbridge Capital Corp................. 100,000 * 946 Highbridge Capital Corporation.......... 19,000,000 5.3 179,835 JMG Convertible Investments, L.P........ 2,500,000 * 23,662 National Union Fire Insurance Company of Pittsburgh............................ 5,500,000 1.5 52,057 OCM Convertible Trust(3)................ 13,050,000 3.6 123,518 Orrington International Fund Ltd........ 4,030,000 1.1 38,143 Orrington Investments Limited Partnership........................... 970,000 * 9,181 Paloma Securities L.L.C................. 4,625,000 1.3 43,775 Partner Reinsurance Company Ltd.(3)..... 1,300,000 * 12,304 R2 Investments, LDC..................... 8,000,000 2.2 75,720 Raytheon Company Master Pension Trust(3).............................. 6,155,000 1.7 58,257 Silverton International Fund Limited.... 4,625,000 1.3 43,775 SoundShore Holdings Ltd................. 17,100,000 4.8 161,851 State Employees' Retirement Fund of the State of Delaware(3).................. 3,660,000 1.0 34,641 State of Connecticut Combined Investment Funds(3).............................. 13,710,000 3.8 129,765 Tribecca Investments, L.L.C............. 5,000,000 1.4 47,325 Triton Capital Investments, LTD......... 2,500,000 * 23,662 United National Insurance Company....... 4,400,000 1.2 41,646 Vanguard Convertible Securities Fund, Inc.(3)............................... 11,050,000 3.1 104,588 Worldwide Transactions Ltd.............. 117,000 * 1,107 Zazove Convertible Fund, L.P............ 6,450,000 1.8 61,049 - ------------ * 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: Chrysler Corporation Master Retirement Trust ($1,280,000), Delta Air Lines Master Trust ($2,030,000), OCM Convertible Trust ($1,895,000), Partner Reinsurance Company Ltd. ($145,000), Raytheon Company Master Pension Trust ($665,000), State of Connecticut Combined Investment Funds ($3,070,000), State Employees' Retirement Fund of the State of Delaware ($1,085,000) and Vanguard Convertible Securities Fund, Inc. ($1,600,000). ------------------------ SEE 'RISK FACTORS' BEGINNING ON PAGE 14 OF THE ACCOMPANYING PROSPECTUS FOR A DISCUSSION OF CERTAIN FACTORS THAT SHOULD BE CONSIDERED BY PROSPECTIVE PURCHASERS OF THE SECURITIES OFFERED HEREBY. ------------------------ THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS PROSPECTUS SUPPLEMENT IS DATED SEPTEMBER 10, 1998.