News
Triarc completes Deerfield sale
December 20, 2007
ATLANTA —In connection with its corporate restructuring, Triarc Companies Inc. announced that it has completed the sale of Deerfield & Company LLC to Deerfield Triarc Capital Corp. As previously announced, DFR will discontinue the use of "Triarc" in its name and will be known as Deerfield Capital Corp.
Triarc received total nominal consideration of approximately $145 million, consisting of approximately $48 million in senior secured notes and approximately 9.6 million shares of DFR convertible preferred stock. Triarc also received approximately 206,000 shares of DFR common stock previously owned by Deerfield.
Triarc is a holding company and, through its subsidiaries, is the franchisor of the Arby's restaurant system. The Arby's restaurant system is comprised of approximately 3,600 restaurants, of which, as of Sept. 30, 2007, 1,097 were owned and operated by subsidiaries.
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