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Acquisition News--Arby's, Budget

1 min read
Opinions expressed by Entrepreneur contributors are their own.

New York--Triarc Companies Inc. has acquired Sybra Inc., second largest franchisee of Triarc's Arby's brand. Sybra, which owns and operates 239 Arby's restaurants in nine states, is currently in Chapter 11 bankruptcy. Triarc is agreeing to pay $8 million to creditors of Sybra's parent ICH Corp. as well as invest $14.5 million in Sybra. -Business Wire

New York--Cendant Corp. has completed the purchase of substantially all the assets of Budget Group Inc. The acquisition includes Budget operations and franchised locations in the Americas, Caribbean, Australia and New Zealand and rights to franchise and operate in Asia. -PRNewswire

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