Cable Car Beverage (DRNK) Message Board

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Non-Tech : Cable Car Beverage (DRNK)

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To: hoopsville who wrote (260)	10/13/1997 12:06:00 PM
From: hoopsville	of 284

Triarc press release: biz.yahoo.com NEW YORK, Oct 13 (Reuters) -- Triarc Cos Inc said Monday it will buy back up to $20 million of its Class A common stock, subject to market conditions, over the next 12 months. Triarc shares were up 3/4 to 19. The buyback will not begin until after the completion of Triarc's previously announced acquisition of Cable Car Beverage Corp (DRNK), expected next month, the company said. Triarc's previous open-market stock repurchase program ended in July. Triarc has about 24 million Class A shares outstanding, with about 25 percent owned by Nelson Peltz, Triarc chairman and chief executive officer, and Peter May, Triarc president. Triarc said it anticipates annualized sales of nearly $1 billion through its consumer brands in beverages and restaurants.

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