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 the same year, Trian also bought $1.8 billion in shares of
Kraft Foods. In February 2011, Trian offered to buy
Family Dollar for $55–60 per share which was rejected. Family Dollar also used the
poison pill tactic in its defense. In September 2011, Garden joined the Family Dollar board. In October 2011, Trian, which owned 3.3% of
State Street Corporation, called for it to focus more on profitability and to consider selling or spinning-off its investment management arm,
State Street Global Advisors. Although State Street kept its investment management arm, it engaged in other cost-cutting measures. By the time Trian sold its stake in State Street in 2013, the share price of had doubled. In May 2012, Trian announced that in partnership with
CalSTRS, it had a 7% stake in
Ingersoll Rand. In August, Peltz joined its board. Trian and Peltz spearheaded a move to break up the company to improve profitability. Ingersoll Rand eventually agreed to spin off its securities business as
Allegion, which was completed in December 2013. In February 2014, as a beneficial owner of approximately $1.2 billion of
PepsiCo shares, Trian publicly released a letter to PepsiCo's board of directors and a white paper detailing why it should spin out its beverage business from its snacks division. Previously it had urged PepsiCo to acquire
Mondelez International, but dropped the idea after winning a seat on Mondelēz's board. Though PepsiCo rejected the breakup proposal, it settled with Trian in January 2015 and added a director which Trian had recommended to its board. It then engaged in cost-cutting measures which improved its profit margins. In May 2016, Trian sold its entire stake of PepsiCo which at the time was worth over $2 billion and was a 50%
return on investment from its initial purchase in 2012. In October 2015, Trian bought a $2.5 billion stake in
General Electric. In May 2019, Peltz and Garden joined
Legg Mason's board of directors. At the time, Trian had a 4.5% stake in the company. When Franklin Templeton Investments acquired Legg Mason in July 2020, Trian made a $70 million profit. In October 2020, Trian acquired 9.9% stakes in both
Invesco and
Janus Henderson. Peltz and Garden then joined Invesco's board of directors. On February 1, 2022, Peltz and Garden left the board after Trian noted Invesco's financial performance had significantly improved. At the same time, Trian increased its stake in Janus Henderson to 16.7%, becoming its biggest shareholder with Peltz and Garden joining its board. Performance for Janus Henderson lagged and Trian wanted to exercise more control. In May 2022, Trian announced it was considering a significant transaction with
Wendy's. This included selling it, acquiring it entirely or merging it with another company. As it invested in the predecessor company of Wendy's, it held 19.4% of shares in the company at the time, making it the largest shareholder. However, in January 2023, Trian stated it would drop these plans as Wendy's announced a corporate redesign, doubled its dividend to increase its share price and also announced a $500 million
share repurchase program. In December 2025, Trian and a group of investors led by
General Catalyst announced they will acquire asset manager
Janus Henderson in an all-cash deal valuing it at $7.4 billion. == Proxy fights ==