Triarc Cos., New York, will acquire Mistic Beverages from Joseph Victori Wines, New Rochelle, N.Y., for $95 million. Michael P. Weinstein, ex-president and CEO of A&W Brands, was named CEO of Mistic, and current Mistic Chief Financial Officer Ernest Cavallo adds the title of president. With Royal Crown and Mistic Beverages in its portfolio, Triarc becomes a major player in both the cola and New Age categories. Plans to coordinate the two brands will be finalized next year, according to Donald B. Lenehan, senior VP-marketing at Royal Crown.
Copyright June 1995, Crain Communications Inc.