Business Services Industry
Triarc Completes Sale of C.H. Patrick
Business Wire, Dec 23, 1997
NEW YORK--(BUSINESS WIRE)--Dec. 23, 1997--Triarc Companies, Inc. (NYSE:TRY) announced today that it has completed the sale of its dyes and specialty chemicals subsidiary, C.H. Patrick & Co., Inc. to B.F. Goodrich Company for $72 million in cash subject to certain post-closing adjustments. With this transaction, Triarc has completed the sale of all of its wholly-owned, non-consumer businesses.
Triarc Companies, Inc., predominantly a holding company, anticipates annualized sales of approximately $1 billion, with a focus in beverages (Snapple, Mistic, Royal Crown and Stewart's) and restaurants (Arby's). In addition, Triarc has an equity interest in liquefied petroleum gas (National Propane).
CONTACT: Triarc Companies, Inc., New York
Martin M. Shea, 212/451-3030
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