ATLANTA Triarc Cos. Inc., franchisor of the Arby's sandwich brand and owner of nearly 1,100 of the chain’s 3,600 restaurants, has completed its restructuring into a purely foodservice company by concluding the delayed sale of Deerfield & Co. LLC to Deerfield Triarc Capital Corp.
The buyer, which paid $145 million in senior notes and shares of Deerfield Triarc to obtain the investment advisory firm, agreed to discontinue use of “Triarc” in its name and began trading Monday as Deerfield Capital Corp.
Atlanta-based Triarc last month submitted the only confirmed but unspecified bid to buy Dublin, Ohio-based Wendy’s International, stating only that the offer was less than the $3.2 billion to $3.6 billion that Triarc chairman Nelson Peltz had previously suggested Wendy’s was worth.