Cadbury to buy Snapple

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Triarc Cos., New York, will sell its red hot Snapple Beverage Group to Cadbury Schweppes for $1.45 billion, pre-empting a planned initial public offering of the unit. The deal, including $910 million in cash and $420 million in debt, is expected to close in the fourth quarter. Snapple will pay another $120 million following the closing for employee options. Included in the transaction is the entire line of Snapple and Mistic new age beverages and Stewart's, Royal Crown and Nehi soft-drink beverages. Arby's, T.J. Cinnamon's and Pasta Connection restaurant brands will remain under Triarc ownership. Triarc will use the sale to invest in new businesses.

Copyright September 2000, Crain Communications Inc.

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