Triarc and Wendy's complete merger
September 29, 2008
by FoodBusinessNews.net Staff
ATLANTA — Triarc Companies, Inc., the parent company of Arby’s Restaurant Group, Inc., and Wendy’s International, Inc. have completed a merger.
The combined company now will be called Wendy’s/Arby’s Group, Inc.
"I am delighted to announce the completion of this merger, which creates a world-class company with the strength, scale and expertise necessary to thrive in a competitive restaurant environment," said Roland C. Smith, president and chief executive officer. "As one company, we are well-positioned to deliver long-term value to our stockholders through enhanced operational efficiencies, improved product offerings, shared services and strong human capital. We have worked together diligently to close this transaction over the past several months and will push forward with that same intensity."
Wendy’s shareholders received 4.25 shares of Triarc’s Class A common stock for each common share of Wendy’s. In addition, each outstanding share of Triarc Class B common stock, Series 1, was converted into one share of Triarc Class A common stock.
Starting on Sept. 30, the combined company will trade under "WEN" on the New York Stock Exchange, and the new company web site will be www.wendysarbys.com.