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Cadbury Schweppes gulps down Triarc's Snapple

Published on .

Cadbury Schweppes, London, will acquire Triarc Cos.' red hot Snapple Beverage Group. New York-based Triarc is selling Snapple 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.Another $120 million will be paid following the closing for employee options. Included in the transaction is the entire line of Snapple and Mistic new age beverages and the Nehi, Royal Crown and Stewart's soft-drink brands. Deutsch, New York, handles Snapple, and Blum Group handles RC. The 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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