WILLIS STEIN & PARTNERS L P
SC 13G, 1998-02-11
Previous: IMPAC MORTGAGE HOLDINGS INC, 8-K, 1998-02-11
Next: TRITEAL CORP, SC 13G/A, 1998-02-11



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

                                 Schedule 13G

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


                         Racing Champions Corporation
                         ----------------------------
                               (Name of Issuer)

                    Common Stock, par value $.01 per share
                    --------------------------------------
                        (Title of Class of Securities)

                                   750069106
                                 ------------
                                (CUSIP Number)



* 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
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).



                              Page 1 of 18 Pages
<PAGE>
 
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 2 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Willis Stein & Partners, L.P.
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      PN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>

- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 3 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Willis Stein & Partners, L.L.C.
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      PN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
 
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 4 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      John R. Willis 
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States Citizen

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 5 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Avy H. Stein 
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States Citizen

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 6 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Daniel M. Gill
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States Citizen

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 7 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Beth F. Johnston                                                         
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3

  
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States Citizen

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
                          
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%                                                              

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  750069106              13G                    PAGE 8 OF 18 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Daniel H. Blumenthal                                                     
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [X]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3

  
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States Citizen

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            None
                          
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          2,381,249 shares
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             None
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          2,381,249 shares
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
      2,381,249 shares
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                                                    [_]
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
      18.0%                                                              

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

 
<PAGE>

CUSIP NO. 750069106                   13G                     Page 9 of 18 Pages
          ---------                                                -    --    
                                  SCHEDULE 13G
                                  ------------


Item 1(a)      Name of Issuer:
               -------------- 

               Racing Champions Corporation


Item 1(b)      Address of Issuer's Principal Executive Offices:
               ----------------------------------------------- 

               800 Roosevelt Road
               Building C, Suite 320
               Glen Elyn, Illinois 60137


Item 2(a)      Name of Person Filing:
               --------------------- 

               Pursuant to Rules 13d-1(f) promulgated under the Securities
     Exchange Act of 1934, as amended (the "Act"), the undersigned hereby file
     this Schedule 13G on behalf of Willis Stein & Partners, L.P., a Delaware
     limited partnership ("WSLP"), Willis Stein & Partners, L.L.C., a Delaware
     limited liability company ("WSLLC"), John R. Willis ("Willis"), Avy H.
     Stein ("Stein"), Daniel M. Gill ("Gill"), Beth F. Johnston ("Johnston") and
     Daniel H. Blumenthal ("Blumenthal").  The foregoing persons are sometimes
     hereinafter referred to collectively as the "Reporting Persons."  The
     Reporting Persons are making this single, joint filing because they may be
     deemed to constitute a "group" within the meaning of Section 13(d)(3) of
     the Act, although neither the fact of this filing nor anything contained
     herein shall be deemed to be an admission by any of the Reporting Persons
     that such a "group" exists.


Item 2(b)      Address of Principal Business Office or, if none, Residence:
               ------------------------------------------------------------

                 The address of the principal business office of each of the
     Reporting Persons is c/o Willis Stein & Partners, L.P., 227 W. Monroe
     Street, Suite 4300, Chicago, IL 60606.


Item 2(c)      Citizenship:
               ----------- 

                 WSLP   The place of WSLP's organization as a limited
     partnership is Delaware, the United States of America.
<PAGE>

CUSIP No. 750069106                     13G                 Page 10 of 18 Pages 
          ---------                                              --    --

               WSLLC  The place of WSLLC's organization as a limited liability
          company is Delaware, the United States of America.

               Willis  Mr. Willis is a citizen of the United States of America.

               Stein  Mr. Stein is a citizen of the United States of America.

               Gill  Mr. Gill is a citizen of the United States of America.
               
               Johnston Ms. Johnston is a citizen of the United States of
          America.

               Blumenthal  Mr. Blumenthal is a citizen of the United States of
          America.


Item 2(d)      Title of Class of Securities:
               ---------------------------- 

               Common Stock, par value $.01 per share.


Item 2(e)      CUSIP No.:
               --------- 

               750069106.


Item 3    If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
          check whether the person filing is a:
          -------------------------------------------------------------------

               Not applicable.


Item 4    Ownership:
          --------- 

               The following information is provided in response to Item 4 of
     Schedule 13G and the percentages stated are based on a total of 13,242,382
     shares of Common Stock outstanding as of September 30, 1997, as disclosed
     in the Issuer's Quarterly Report on Form 10-Q for the Quarterly Period
     Ended September 30, 1997.
<PAGE>
CUSIP No. 750069106                    13G                  Page 11 of 18 Pages 
          ---------                                              --    --

          (a) - (b)

                 WSLP   beneficially owns 2,381,249 shares of Common Stock,
     constituting approximately 18.0% of the shares of Common Stock outstanding.

                 WSLLC  By reason of its status as the sole general partner of
     WSLP, WSLLC may be deemed, pursuant to Rule 13d-3 promulgated under the
     Act, to own beneficially the 2,381,249 shares of Common Stock held by WSLP,
     constituting approximately 18.0% of the shares of Common Stock outstanding.
     WSLLC disclaims such beneficial ownership in the Common Stock held by WSLP,
     except to the extent of WSLLC's indirect beneficial interest as the general
     partner of WSLP

                 Willis  By reason of his status as a Founding Member of WSLLC,
     the general partner of WSLP, Mr. Willis may be deemed, pursuant to Rule
     13d-3 promulgated under the Act, to own beneficially the 2,381,249 shares
     of Common Stock held by WSLP, constituting approximately 18.0% of the
     shares of Common Stock outstanding.  Mr. Willis disclaims such beneficial
     ownership in the Common Stock held by WSLP, except to the extent of his
     indirect beneficial interest as a Founding Member of WSLLC, the general
     partner of WSLP.

                 Stein  By reason of his status as a Founding Member of WSLLC,
     the general partner of WSLP, Mr. Stein may be deemed, pursuant to Rule 13d-
     3 promulgated under the Act, to own beneficially the 2,381,249 shares of
     Common Stock held by WSLP, constituting approximately 18.0% of the shares
     of Common Stock outstanding.  Mr. Stein disclaims such beneficial ownership
     in the Common Stock held by WSLP, except to the extent of his indirect
     beneficial interest as a Founding Member of WSLLC, the general partner of
     WSLP.

                 Gill By reason of his status as a Founding Member of WSLLC, the
     general partner of WSLP, Mr. Gill may be deemed, pursuant to Rule 13d-3
     promulgated under the Act, to own bene beneficially the 2,381,249 shares of
     Common Stock held by WSLP, constituting approximately 18.0% of the shares
     of Common Stock outstanding. Mr. Gill disclaims such beneficial ownership
     in the Common Stock held by WSLP, except to the extent of his indirect
     beneficial interest as a Founding Member of WSLLC, the general partner of
     WSLP.

                 Johnston  By reason of her status as a Founding Member of
     WSLLC, the general partner of WSLP, Ms. Johnston may be deemed, pursuant to
     Rule 13d-3 promulgated under the Act,
<PAGE>

CUSIP No. 750069106                   13G                    Page 12 of 18 Pages
          ---------                                               --    -- 

     to own beneficially the 2,381,249 shares of Common Stock held by WSLP,
     constituting approximately 18.0% of the shares of Common Stock outstanding.
     Ms. Johnston disclaims such beneficial ownership in the Common Stock held
     by WSLP, except to the extent of her indirect beneficial interest as a
     Founding Member of WSLLC, the general partner of WSLP.

                 Blumenthal By reason of his status as a Founding Member of
     WSLLC, the general partner of WSLP, Mr. Blumenthal may be deemed, pursuant
     to Rule 13d-3 promulgated under the Act, to own beneficially the 2,381,249
     shares of Common Stock held by WSLP, constituting approximately 18.0% of
     the shares of Common Stock outstanding. Mr. Blumenthal disclaims such
     beneficial ownership in the Common Stock held by WSLP, except to the extent
     of his indirect beneficial interest as a Founding Member of WSLLC, the
     general partner of WSLP.

          (c)(i-iv)

               WSLP  WSLP has shared power to vote or direct the vote and shared
     power to dispose or direct the disposition of 2,381,249 shares of Common
     Stock.

               WSLLC  By reason of its status as the sole general partner of
     WSLP, WSLLC may be deemed to have shared power to vote or direct the vote
     and shared power to dispose or direct the disposition of the 2,381,249
     shares of Common Stock held by WSLP.  WSLLC disclaims such shared voting
     and dispositive power.

               Willis  By reason of his status as a Founding Member of WSLLC,
     the sole general partner of WSLP, Mr. Willis may be deemed to have shared
     power to vote or direct the vote and shared power to dispose or direct the
     disposition of the 2,381,249 shares of Common Stock held by WSLP.  Mr.
     Willis disclaims such shared voting and dispositive power, except to the
     extent deemed by reason of his status as a Founding Member of WSLLC, the
     general partner of WSLP.

               Stein  By reason of his status as a Founding Member of WSLLC,
     the sole general partner of WSLP, Mr. Stein may be deemed to have shared
     power to vote or direct the vote and shared power to dispose or direct the
     disposition of the 2,381,249 shares of Common Stock held by WSLP.  Mr.
     Stein disclaims such shared voting and dispositive power, except to the
     extent deemed by reason of his status as a Founding Member of WSLLC, the
     general partner of WSLP.
<PAGE>

CUSIP No. 750069106                13G                       Page 13 of 18 Pages
          ---------                                               --    --
 
                 Gill  By reason of his status as a Founding Member of WSLLC,
     the sole general partner of WSLP, Mr. Gill may be deemed to have shared
     power to vote or direct the vote and shared power to dispose or direct the
     disposition of the 2,381,249 shares of Common Stock held by WSLP.  Mr. Gill
     disclaims such shared voting and dispositive power, except to the extent
     deemed by reason of his status as a Founding Member of WSLLC, the general
     partner of WSLP.

                 Johnston  By reason of her status as a Founding Member of
     WSLLC, the sole general partner of WSLP, Ms. Johnston may be deemed to have
     shared power to vote or direct the vote and shared power to dispose or
     direct the disposition of the 2,381,249 shares of Common Stock held by
     WSLP.  Ms. Johnston disclaims such shared voting and dispositive power,
     except to the extent deemed by reason of her status as a Founding Member of
     WSLLC, the general partner of WSLP.

                 Blumenthal  By reason of his status as a Founding Member of
     WSLLC, the sole general partner of WSLP, Mr. Blumenthal may be deemed to
     have shared power to vote or direct the vote and shared power to dispose or
     direct the disposition of the 2,381,249 shares of Common Stock held by
     WSLP.  Mr. Blumenthal disclaims such shared voting and dispositive power,
     except to the extent deemed by reason of his status as a Founding Member of
     WSLLC, the general partner of WSLP.


Item 5    Ownership of Five Percent or Less of a Class:
          -------------------------------------------- 

               Not applicable.


Item 6    Ownership of More Than Five Percent on Behalf of
          Another Person:
          ------------------------------------------------

               No other person has the right to receive or the power to direct
     the receipt of dividends from, or the proceeds from the sale of, the shares
     of Common Stock owned by any of the Reporting Persons.


Item 7    Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on By the Parent Holding Company:
          ----------------------------------------------------------------------

               Not applicable.
<PAGE>

CUSIP No. 750069106                13G                       Page 14 of 18 Pages
          ---------                                               --    --

 
Item 8    Identification and Classification of Members of
          the Group:
          -----------------------------------------------

               This Schedule 13G is being filed pursuant to Rule 13d-1(c).
     Attached as Exhibit B is a complete and accurate list of each member of the
     group.


Item 9    Notice of Dissolution of Group:
          ------------------------------ 

               Not applicable.


Item 10.  Certification:
          ------------- 

               Not applicable.
<PAGE>
 
CUSIP No. 750069106                    13G                   Page 15 of 18 Pages
          ---------                                               --    -- 

                                   SIGNATURE

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

Dated:  February 9, 1998


WILLIS STEIN & PARTNERS, L.P.

By:  WILLIS STEIN & PARTNERS, L.L.C.,
Its: General Partner
 

By:   /s/ AVY H. STEIN
     ---------------------
     Avy H. Stein
Its: Founding Member


WILLIS STEIN & PARTNERS, L.L.C.


By:    /s/ AVY H. STEIN
     ---------------------
     Avy H. Stein
Its: Founding Member


  /s/ JOHN R. WILLIS
 ------------------------
 John R. Willis


  /s/ AVY H. STEIN
 -------------------
 Avy H. Stein


  /s/DANIEL M. GILL
 ---------------------
 Daniel M. Gill


  /s/BETH F. JOHNSTON
 -----------------------
 Beth F. Johnston


  /s/DANIEL H. BLUMENTHAL
 ---------------------------
 Daniel H. Blumenthal
<PAGE>

CUSIP No. 750069106                    13G                   Page 16 of 18 Pages
          ---------                                               --    --
 
                                 EXHIBIT INDEX

Exhibit        Document Description
- -------        --------------------

   A           Agreement pursuant to Rule
               13d-1(f)(1)(iii).

   B           Schedule of members of group
<PAGE>

CUSIP No. 750069106                   13G                    Page 17 of 18 Pages
          ---------                                               --    --
 
                           EXHIBIT A TO SCHEDULE 13G

                      Agreement Relating to the Filing of
                   Joint Statements Pursuant to Rule 13d-1(f)
                   ------------------------------------------

          Pursuant to Rule 13d-1(f)(1)(iii) of the General Rules and Regulations
of the Securities Exchange Act of 1934, as amended, the undersigned agree that
the Schedule 13G to which this Exhibit is attached is filed on their behalf in
the capacities set out herein below.

Dated:  February 9, 1998


WILLIS STEIN & PARTNERS, L.P.

By:  WILLIS STEIN & PARTNERS, L.L.C.,
Its: General Partner
 
By:   /s/ AVY H. STEIN
     ---------------------
     Avy H. Stein
Its: Founding Member


WILLIS STEIN & PARTNERS, L.L.C.

By:   /s/ AVY H. STEIN
     ---------------------
     Avy H. Stein
Its: Founding Member


  /s/ JOHN R. WILLIS
 ------------------------
 John R. Willis

  /s/ AVY H. STEIN
 -------------------
 Avy H. Stein

  /s/DANIEL M. GILL
 ---------------------
 Daniel M. Gill

  /s/BETH F. JOHNSTON
 -----------------------
 Beth F. Johnston

  /s/DANIEL H. BLUMENTHAL
 ---------------------------
 Daniel H. Blumenthal
<PAGE>

CUSIP No. 750069106                  13G                     Page 18 of 18 Pages
          ---------                                               --    -- 

                           EXHIBIT B TO SCHEDULE 13G


          The following is a complete and accurate list of
each member of the group:

     1.   Willis Stein & Partners, L.P.
     2.   Willis Stein & Partners, L.L.C.
     3.   John R. Willis
     4.   Avy H. Stein
     5.   Daniel M. Gill
     6.   Beth F. Johnston
     7.   Daniel H. Blumenthal


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission