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Restaurateur Closes Deal.(A)
Byline: FROM IBD NEWS SERVICES
Restaurant operator Triarc Cos. (New America, July 20, 2001) last week said it completed its purchase of Sybra Inc., the second largest operator of Triarc's Arby's franchises.
Sybra owns and operates 239 Arby's restaurants in nine states. It used to be a subsidiary of I.C.H. Corp., which filed for Chapter 11 bankruptcy protection in February and received court permission in November to sell Sybra to Triarc.
New York-based Triarc, which operates about 3,400 Arby's franchises, paid $8.3 million to I.C.H. creditors and invested $14.2 million in Sybra. It'll ...
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