Triarc Takeover of Wendy's Complete

It’s official: Triarc Companies will now officially take control of Wendy’s now that shareholders have approved the proposed merger. Triarc owner Nelson Peltz got quite a deal, as he originally proposed buying Wendy’s for $37-$41 per share, and three attempts later ended up controlling the franchise for just over $26 a share.

Now what? First off, Wendy’s and Triarc’s Arby’s will be merged into a single, still-public company called the Wendy’s/Arby’s Group, although the two restaurant chains will retain separate headquarters.

Mark Williams of the Associated Press adds that Triac will try and improve “cost controls over food, labor and other expenses should generate $100 million a year in operating profits over time.” Other highlights:

Eliminating duplicate corporate functions and streamlining support services are expected to eventually save $60 million, said Triarc, which operates 3,700 Arby’s restaurants.

Triarc also said expansions for both brands are planned for the U.S. and overseas and that the company will look at a dual-concept unit in high-cost real estate markets.