USA: Snapple Beverage Group, Inc. Files Registration Statement for an Initial Public Offering
Michael F. Weinstein, currently Triarc Beverage Group's Chief Executive Officer, will be Snapple's Chief Executive Officer. Nelson Peltz, Triarc's Chairman and Chief Executive Officer, will be the Chairman and Peter W. May, Triarc's President and Chief Operating Officer will be Vice Chairman. The other senior officers of the new company will be the current senior officers of the Triarc Beverage Group, including President and Chief Operating Officer Ernest J. Cavallo, Royal Crown President John L. Belsito, Stewart's Beverages President and Chief Executive Officer, Samuel M. Simpson, Richard B. Allen, Senior Vice President and Chief Financial Officer, Joseph D. Bayern, Senior Vice President - Strategic Planning, Kenneth W. Gilbert, Senior Vice President - Marketing, Gary G. Lyons, Senior Vice President and General Counsel, Joseph G. McDonald, Senior Vice President - Sales and Sherry L. Perley, Senior Vice President - Human Resources, among others. Snapple's Board of Directors will include Messrs. Peltz, May and Weinstein as well as four independent directors. The Snapple Beverage Group will be headquartered in White Plains, N.Y.
The offering which will be made only by a prospectus, will be underwritten by a syndicate to be lead-managed by Morgan Stanley Dean Witter and co-managed by Donaldson Lufkin & Jenrette, ING Barings and Lehman Brothers. Copies of the preliminary prospectus relating to the offering, when available, may be obtained from Morgan Stanley at 1585 Broadway, New York, NY.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Triarc is a leading premium beverage company (Snapple, Mistic and Stewart's), a producer of soft drink concentrates (Royal Crown, Diet Rite, RC Edge and Nehi) and restaurant franchisor (Arby's(R), T.J. Cinnamons(R) and Pasta Connection(R)).
Notes to Press Release
1. There can be no assurance that the Securities and Exchange Commission will declare the registration statement effective or that the proposed IPO will be consummated.
2. Certain statements in the press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Such forward-looking statements involve known and unknown risks, and uncertainties and other factors which may cause the actual results, performance and achievements of Triarc Companies, Inc. (the "Company") or Snapple Beverage Group, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Statements made herein with respect to the proposed IPO are forward-looking statements and are subject to the uncertainties and other factors described in the press release. Reference is made to the Registration Statement on Form S-1 filed by Snapple Beverage Group, Inc. on June 27, 2000, the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2000 and Quarterly Report on Form 10-Q for the quarter ended April 2, 2000, filed with the Securities and Exchange Commission, for additional information concerning the risks and uncertainties that may affect the forward-looking statements made in this press release.
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