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Triarc Beverage Group Announces Sale of C&C
July 22, 1997 12:56 PM
NEW YORK--(BUSINESS WIRE)--July 22, 1997--Triarc Beverage Group, part
of Triarc Companies, Inc. TRY , announced today that its subsidiary,
Royal Crown Company, Inc., has completed the sale of its rights to
the C&C beverage line, including the C&C trademark, to Kelco Sales &
Marketing Inc., a beverage distribution business based in Cranford,
New Jersey, which will do business under the name of C&C Beverages,
Inc.
C&C is a line of mixers, colas and flavors. In connection with the
sale, Royal Crown agreed to sell to Kelco concentrate for C&C products
and to provide Kelco certain technical services. Terms of the
transaction were not disclosed.
Mike Weinstein, chief executive officer of the Triarc Beverage Group
stated "The sale of C&C is yet another example of Triarc Beverage
Group continuing to focus on our core brands and to work to the
strength of our stronger bottlers who handle Royal Crown, Snapple
Beverages and Mistic Brands, Inc."
Triarc is expected to have 1997 annual sales of nearly $1 billion
through its consumer brands in beverages (Snapple, Mistic and Royal
Crown) and restaurants (Arby's). In addition, Triarc has annual
sales of approximately $70 million in specialty dyes and chemicals
(C.H. Patrick) and an equity interest in liquefied petroleum gas
(National Propane) which has annual sales of approximately $175
million.
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Check this out. Why is Triarc selling one brand and buying another,
(Cable Car)? CEO says they want to concentrate on thier core beverage
line. My question again, is what do they want with Cable Car? Any
ideas on this move by Triarc.
Lance
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