USA: Triarc Completes Sale of Snapple Beverage Group to Cadbury Schweppes
Triarc Companies, Inc. (NYSE: TRY) announced today that it has completed the previously announced sale of its Snapple Beverage Group to affiliates of Cadbury Schweppes plc (LSE: CBRY, NYSE: CSG) at an enterprise value of approximately $1.45 billion. The transaction includes the sale of Snapple Beverage Group's premium beverage business - Snapple®, Mistic® and Stewart's® - and soft drinks concentrates business - Royal Crown®, Diet Rite®, RC Edge(TM) and Nehi® - for approximately $910 million in cash plus the assumption of approximately $420 million of debt.
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