Wendy’s Buyer Slips Into Red

Just weeks after signing a merger agreement with Wendy’s International Inc., Atlanta-based Triarc Companies Inc. posted a $67.5 million loss in the first quarter, Business First of Columbus reported.

Triarc, the parent company of fast-food restaurant Arby’s, was hurt by a $68.1 million investment income loss related to its investment in Deerfield & Co., which it sold for $145 million in December, the publication reported.

Despite the loss, Triarc’s sales were at $281.6 million, a 6% increase compared to the first quarter of 2007.

Triarc has 3,700 Arby’s restaurants, 1,156 of which were owned and operated by its subsidiaries. Last month the company announced a $2.3 billion deal to acquire Dublin, Ohio-based Wendy’s International Inc., effectively creating the third-largest quick-service restaurant chain in the U.S. The merger will create a company with $12.5 billion in annual sales and more than 10,000 restaurant units.

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