Mr Peltz. , Last line most interesting In 1997, through an investment vehicle they controlled, Triarc Cos,[18] Peltz and May acquired Snapple, from Quaker Oats. Snapple, together with other beverage brands was sold to Cadbury Schweppes in 2000. The Snapple turnaround was featured as a Harvard Business School case study.[18]
In 2005, Peltz, May, and Ed Garden, founded Trian Fund Management, L.P. As an activist investing firm, Trian has invested in such companies as Heinz,[19] Cadbury, Kraft Foods,[20] Ingersoll Rand,[21] Wendy's,[22] DuPont,[23] Mondelz,[3] PepsiCo,[24] State Street Corporation [25] and Family Dollar.[26]
In 2006, Trian was involved in a proxy contest with Heinz to get five independent directors on the board of Heinz. Trian succeeded in getting two members on the board, including Peltz.[27]
In 2007, Trian bought a 3% share of Cadbury-Schweppes. Cadbury Schweppes Americas Beverages was later spun off from the Cadbury Schweppes confectionery group. In 2007, Trian also bought $1.8 billion in shares of Kraft Foods, roughly a 3% of the total equity of the food maker.[28]
In April 2008, it was announced that Triarc Cos. would merge with burger chain Wendy's.[29] The merger was completed on September 29, 2008.[30]The new company was named Wendy's Arby's Group and traded on the New York Stock Exchange under the symbol WEN. On July 25, 2011, Wendy's Arby's sold Arby's to Roark Capital Group and changed its name to The Wendy's Company.[31] According to CNBC, on February 15, 2011, Trian offered to buy Family Dollar for $55–60 per share.
In February 2011, Trian announced it had accumulated an 8% stake in the Family Dollar company and indicated a willingness to participate in a take private LBO for the company with a total value of about $7 to $8 billion. This overture was rejected by the company management and board of directors.[32] In September 2011, Ed Garden, Trian's Chief Investment Officer, joined the Family Dollar board.[33]
Peltz was appointed to the Ingersoll-Rand board of directors in 2012.[34]
In August 2013, it was reported that Trian held an approximate $1.25 billion stake in DuPont.[23]
In January 2014, as one of the company's largest shareholders, with a current beneficial ownership of more than 46 million shares, Peltz was appointed to the board of directors of global snacking company, Mondelz International (NASDAQ: MDLZ).[35][36]
In February 2014, as a beneficial owner of approximately $1.2 billion of PepsiCo, Inc. (NYSE: PEP) common shares, Trian publicly released a letter to PepsiCo's board of directors and a white paper detailing why separating global snacks and beverages into two independent public companies would be the right long-term decision for the business and would create substantial value for shareholders.[37] Trian said it would immediately begin to engage fellow shareholders in a public dialogue with the goal of creating a groundswell of support for a separation of snacks and beverages.[38]
In February 2014, Forbes listed Peltz as one of the 25 highest-earning hedge fund managers in 2013, with total earnings of $430 million, ranked 16th.[39]
In May 2015, Trian was unsuccessful in a bitter proxy contest to appoint four of its nominees to the board of DuPont.[40] Five months later the CEO of DuPont, Ellen Kullman, resigned; at the time DuPont acknowledged lower than expected earnings and the need to accelerate a cost-cutting plan.[41]
In October 2015, Trian bought a $2.5 billion stake in General Electric.[42]
In October 2017, Peltz tried but failed to acquire a seat on the board of Procter & Gamble, in which Trian has a 1.5% stake.[43] On November 15, 2017, it was discovered that per a revision of all votes, which Peltz acknowledged to have resulted in a remarkably close battle, Peltz had in fact won the proxy battle, recognized as the largest in corporate history. On December 15, Procter & Gamble named Peltz to its board, although it stated that Peltz had nominally lost the proxy vote.[44]
In February 2018, Peltz announced his departure from the board of Mondelez International, to be succeeded by Trian President Peter May.[45]
In March 2018, Peltz joined the Procter & Gamble board of directors.[46][47]
In March 2019, Peltz joined Canadian cannabis producer Aurora Cannabis as a strategic adviser.