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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)*


TRIARC COMPANIES, INC.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

895927101

(CUSIP Number)

May 31, 2007

(Date of Event Which Requires Filing of this Statement


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

  [   ] Rule 13d-1(b)
 
[X]

Rule 13d-1(c)
 
[   ]

Rule 13d-1(d)


* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following page(s))
Page 1 of 6 Pages




CUSIP No. 895927101






1




NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Keeley Asset Management Corp.; Tax I.D. No.: 36-3160361

2



CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

Not Applicable

(a)   [  ]
(b)   [  ]

3


SEC USE ONLY


4


CITIZENSHIP OR PLACE OF ORGANIZATION

Illinois



NUMBER OF

SHARES
5



SOLE VOTING POWER

2,842,795

BENEFICIALLY

OWNED
6



SHARED VOTING POWER

-0-

BY EACH

REPORTING
7



SOLE DISPOSITIVE POWER

3,048,335

PERSON WITH:

8


SHARED DISPOSITIVE POWER

-0-



9



AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,048,335(1)

10  



CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable

[  ]
11  



PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

10.6%(1)

12  



TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IA


  (1) The percent ownership calculated is based upon an aggregate of 28,859,184 shares outstanding as of April 30, 2007.

Page 2 of 6 Pages



CUSIP No. 895927101






1




NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Kamco Performance Limited Partnership; Tax I.D. No.: 36-3645043

2



CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

Not Applicable

(a)   [  ]
(b)   [  ]

3


SEC USE ONLY


4


CITIZENSHIP OR PLACE OF ORGANIZATION

Illinois



NUMBER OF

SHARES
5



SOLE VOTING POWER

17,300

BENEFICIALLY

OWNED
6



SHARED VOTING POWER

-0-

BY EACH

REPORTING
7



SOLE DISPOSITIVE POWER

17,300

PERSON WITH:

8


SHARED DISPOSITIVE POWER

-0-



9



AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

17,300(1)

10  



CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable

[  ]
11  



PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

0.06%(1)

12  



TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN


  (1) The percent ownership calculated is based upon an aggregate of 28,859,184 shares outstanding as of April 30, 2007.

Page 3 of 6 Pages



CUSIP No. 895927101






1




NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

Kamco Limited Partnership No. 1; Tax I.D. No.: 36-3528572

2



CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

Not Applicable

(a)   [  ]
(b)   [  ]

3


SEC USE ONLY


4


CITIZENSHIP OR PLACE OF ORGANIZATION

Illinois



NUMBER OF

SHARES
5



SOLE VOTING POWER

10,000

BENEFICIALLY

OWNED
6



SHARED VOTING POWER

-0-

BY EACH

REPORTING
7



SOLE DISPOSITIVE POWER

10,000

PERSON WITH:

8


SHARED DISPOSITIVE POWER

-0-



9



AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

10,000(1)

10  



CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
Not Applicable

[  ]
11  



PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

0.03%(1)

12  



TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN


  (1) The percent ownership calculated is based upon an aggregate of 28,859,184 shares outstanding as of April 30, 2007.

Page 4 of 6 Pages



CUSIP No. 895927101

        This Amendment No. 2 to the undersigned’s Schedule 13G, which was originally filed on February 14, 2006 and amended on February 13, 2007 (the “Schedule 13G”), with regard to Triarc Companies, Inc. (the “Issuer”), is being filed to amend Item 4 of the Schedule 13G. Except as expressly stated herein, there have been no material changes in the information set forth in the Schedule 13G.

Item 4. Ownership

  Keeley Asset Management Corp.
  (a) Amount Beneficially Owned:  3,048,335
  (b) Percent of Class:  10.6%
  (c) Number of shares as to which such person has:
  (i) sole power to vote or to direct the vote:  2,842,795
  (ii) shared power to vote or to direct the vote:  -0-
  (iii) sole power to dispose or to direct the disposition of:  3,048,335
  (iv) shared power to dispose or to direct the disposition of:  -0-

  Kamco Performance Limited Partnership
  (a) Amount Beneficially Owned:  17,300
  (b) Percent of Class:  0.06%
  (c) Number of shares as to which such person has:
  (i) sole power to vote or to direct the vote:   17,300
  (ii) shared power to vote or to direct the vote:   -0-
  (iii) sole power to dispose or to direct the disposition of:  17,300
  (iv) shared power to dispose or to direct the disposition of:  -0-

  Kamco Limited Partnership No. 1
  (a) Amount Beneficially Owned:  10,000
  (b) Percent of Class:  0.03%
  (c) Number of shares as to which such person has:
  (i) sole power to vote or to direct the vote:   10,000
  (ii) shared power to vote or to direct the vote:   -0-
  (iii) sole power to dispose or to direct the disposition of:  10,000
  (iv) shared power to dispose or to direct the disposition of:  -0-

Page 5 of 6 Pages



CUSIP No. 895927101

SIGNATURE

        After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: June 15, 2007

KEELEY ASSET MANAGEMENT CORP.


 
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., President


 
KAMCO PERFORMANCE LIMITED PARTNERSHIP


 
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner


 
KAMCO LIMITED PARTNERSHIP NO. 1


 
/s/ John L. Keeley, Jr.
John L. Keeley, Jr., General Partner



Page 6 of 6 Pages