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 OF THESE DEBENTURES ----------------------- This Prospectus Supplement, together with the Prospectus, is to be used by certain holders of the securities referred to above or by their transferees, pledgees, donees or their successors in connection with the offer and sale of the securities referred to above. The last reported sale price of the Common Stock on the New York Stock Exchange on January 20, 1999 was $15 3/4 per share. This Prospectus Supplement supplements 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 of these Debentures to include the following 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 Argent Classic Convertible Arbitrage Fund (Bermuda) L.P..... 25,000,000 6.9 236,625 Black Diamond, Ltd....... 1,262,000 * 11,944 Black Diamond Partners, L.P.................... 1,283,000 * 12,143 BZW Securities Ltd....... 30,000,000 8.3 283,950 Century National Insurance Company(3)... 2,700,000 * 25,555 Chrysler Corporation Master Retirement Trust(3)............... 7,645,000 2.1 72,359 Chrysler Insurance Company - Total Return................. 150,000 * 1,419 Delta Air Lines Master Trust(3)............... 3,325,100 * 31,471 Double Black Diamond Offshore LDC(3)........ 238,000 * 2,252 Fort Dearborn Life Insurance Company...... 600,000 * 5,679 Highbridge Capital Corporation............ 16,500,000 4.6 156,172 JMG Convertible Investments, L.P....... 2,500,000 * 23,662 National Union Fire Insurance Company of Pittsburgh(3).......... 5,500,000 1.5 52,057 OCM Convertible Trust(3)............... 10,890,000 3.0 103,073 Orrington International Fund Ltd............... 4,030,000 1.1 38,143 Orrington Investments Limited Partnership.... 970,000 * 9,181 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 SoundShore Holdings Ltd.................... 19,600,000 5.4 185,514 State Employees' Retirement Fund of the State of Delaware(3)... 1,930,000 * 18,267 State of Connecticut Combined Investment Funds(3)............... 9,820,000 2.7 92,946 Triton Capital Investments, LTD....... 2,500,000 * 23,662 United National Insurance Company(3)............. 4,400,000 1.2 41,646 Vanguard Convertible Securities Fund, Inc.(3)................ 9,090,000 2.5 86,036 Worldwide Transactions Ltd.................... 117,000 * 1,107 Zazove Convertible Fund, L.P.(3)................ 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: Century National Insurance Company ($2,760,000), Chrysler Corporation Master Retirement Trust ($1,770,000), Delta Air Lines Master Trust ($1,325,000), Double Black Diamond Offshore LDC ($100,000), National Union Fire Insurance Company of Pittsburgh ($6,850,000), OCM Convertible Trust ($210,000), Partner Reinsurance Company Ltd. ($210,000), Raytheon Company Master Pension Trust ($905,000), State of Connecticut Combined Investment Funds ($3,615,000), State Employees' Retirement Fund of the State of Delaware ($1,245,000), United National Insurance Company ($1,000,000), Vanguard Convertible Securities Fund, Inc. ($170,000) and Zazove Convertible Fund, L.P. ($550,000). ------------------------ INVESTING IN THESE SECURITIES INVOLVES CERTAIN RISKS. SEE 'RISK FACTORS' BEGINNING ON PAGE 14 OF THE ACCOMPANYING PROSPECTUS. ------------------------ NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. THIS PROSPECTUS SUPPLEMENT IS DATED JANUARY 21, 1999.