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SURF'S UP FOR ARBY'S
Published September 27, 1994
Triarc Companies Inc., which owns Royal Crown Cola and Arby's, is spending $525M in cash for Long John Silver's Restaurants Inc. "The deal will create a company with a combined 4,200 restaurants, generating more than $2.5B in annual system- wide sales." Nelson Peltz, Triarc Chair/CEO: "The proposed addition of Long John Silver's nearly 1,450 locations to our existing system of 2,700 Arby's restaurants will propel us overnight to the top tier in the quick-service restaurant industry" (AP/WASHINGTON TIMES, 9/22). DUAL-BRANDING, THE NEXT WAVE: "Triarc will try to turn the acquisition into a venture that would be the most ambitious attempt at fast-food dual branding" -- which is "the retailing of two separate brands from the same restaurant outlet." Don Pierce, head of Triarc's restaurant group: "Multiple branding is the next wave in the restaurant business" (Glenn Collins, N.Y. TIMES, 9/22). OR IS IT? According to this morning's WALL STREET JOURNAL, "not everyone in the restaurant industry is so enamored of the multiple-restaurant approach." PepsiCo has tested several three- in-one and two-in-one restaurant locations across the country, "with less-than-overwhelming results" (Emory Thomas, WALL STREET JOURNAL, 9/22).