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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Landec Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
514766100
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(CUSIP Number)
Check the following box if a fee is being paid with the
statement |X|. (A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent or
less of such class.) (See Rule 13D-7.)
* 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 (the "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.)
SEC 1745 (2/95)
Page 1 of 12 Pages
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CUSIP No. 514766100 SCHEDULE 13G Page 2 of 12 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chase Venture Capital Associates, L.P.
(f/k/a/ Chemical Venture Capital Associates, A California
Limited Partnership) 13-337-6808
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,306,817
OWNED BY -------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH 11,956
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7 SOLE DISPOSITIVE POWER
1,306,817
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8 SHARED DISPOSITIVE POWER
11,956
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,318,773
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.3%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Item 1.
(a) Name of Issuer:
Landec Corporation
(b) Address of Issuer's Principal Executive Offices:
3603 Haven Avenue
Menlo Park, California 94025
Item 2.
(a) Name of Person Filing:
Chase Venture Capital Associates, L.P. (f/k/a
Chemical Venture Capital Associates, A California
Limited Partnership)
Supplemental information relating to the ownership
and control of the person filing this statement is
included in Exhibit 2(a) attached hereto.
(b) Address of Principal Business Office or, if none,
Residence:
380 Madison Avenue, 12th Floor
New York, New York 10017
(c) Citizenship:
See Row 4 on cover page.
(d) Title of Class of Securities (of Issuer):
Common Stock
(e) CUSIP Number:
See top of cover page.
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b),
check whether the person filing is a:
Not applicable.
Page 3 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Item 4. Ownership
(a) Amount Beneficially Owned:
1,318,773.
This amount includes the following shares issuable
upon the exercise by Mitchell Blutt, M.D., a
director of the Issuer, of options granted to him by
the Issuer: (i) 3,478 shares issuable pursuant to
options which became exercisable at a rate of 1/48
monthly from December 14, 1993 so long as Dr. Blutt
remains a director of the Issuer, (ii) 3,478 shares
issuable pursuant to options which became
exercisable at a rate of 1/4 at May 25, 1996 and
1/48 per month thereafter so long as Dr. Blutt
remains a director of the Issuer, and (iii) 5,000
shares issuable pursuant to options which became
exercisable at a rate of 1/4 at January 26, 1997 and
1/48 per month thereafter as long as Dr. Blutt
remains a director of the Issuer. Dr. Blutt is
obligated to exercise each of the foregoing options
upon the request of the Reporting Person and is
obligated to transfer to the Reporting Person all
shares issued upon the exercise of any of the
foregoing options.
(b) Percent of Class:
12.3%
(c) Number of shares as to which such person has:
(i) 1,306,817
(ii) 11,956
(iii) 1,306,817
(iv) 11,956
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
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Page 4 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
Page 5 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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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: February 14, 1997 CHASE VENTURE CAPITAL ASSOCIATES, L.P.
By: CHASE CAPITAL PARTNERS,
its General Partner
By: /s/ Jeffrey C. Walker
-----------------------------------
Jeffrey C. Walker
A General Partner
Page 6 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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EXHIBIT 2(a)
This statement is being filed by Chase Venture Capital
Associates, L.P. (f/k/a Chemical Venture Capital Associates, A California
Limited Partnership) (hereinafter referred to as "CVCA"), whose principal
business office is located at 380 Madison Avenue, 12th Floor, New York, New
York 10017. The general partner of CVCA is Chase Capital Partners (f/k/a
Chemical Venture Partners), a New York general partnership ("CCP"), whose
principal business office is located at the same address as CVCA.
Set forth below are the names of each general partner of CCP
who is a natural person. Each such general partner is a U.S. citizen, whose
principal occupation is general partner of CCP and whose principal business
office address (except for Messrs. Ferguson and Soghikian) is c/o Chase Capital
Partners, 380 Madison Avenue, 12th Floor, New York, New York 10017.
John R. Baron
Mitchell J. Blutt, M.D.
Arnold L. Chavkin
David L. Ferguson
Michael R. Hannon
Donald J. Hofmann
Stephen P. Murray
Brian J. Richmand
Shahan D. Soghikian
Jeffrey C. Walker
Damion E. Wicker, M.D.
Mr. Ferguson's principal business office address is c/o Chase
Capital Partners, 840 Apollo Street, Suite 223, El Segundo, California 90245.
Mr. Soghikian's principal business office address is c/o Chase Capital
Partners, 125 London Wall, London EC2Y5AJ, England.
Jeffrey C. Walker is the managing general partner of CCP. The
remaining general partners of CCP are Chemical Capital Corporation, a New York
corporation ("Chemical Capital"), CCP Principals, L.P. (f/k/a CVP Principals,
L.P.), a Delaware limited partnership ("Principals") and CCP European
Principals, L.P., a Delaware limited partnership ("European Principals"), each
of whose principal business office is located at the same address as CVCA.
Chemical Capital is a wholly owned subsidiary of The Chase Manhattan
Corporation (f/k/a Chemical Banking Corporation), a Delaware corporation, whose
principal business office is located at the same address as CVCA. The general
partner of each of Principals and European Principals is Chemical Capital. Set
forth in Schedule A hereto and incorporated herein by reference are the names,
business addresses and principal occupations or employments of each executive
officer and director of Chemical Capital, each of whom is a U.S. citizen.
The Chase Manhattan Corporation ("Chase") is a Delaware
corporation engaged (primarily through subsidiaries) in the commercial banking
business with its principal office located at 270 Park Avenue, New York, New
York 10017. Set forth in Schedule B hereto and incorporated herein by reference
are the names, business addresses, principal occupations and employments of
each executive officer and director of Chase, each of whom is a U.S. Citizen.
Page 7 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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SCHEDULE A
CHEMICAL CAPITAL CORPORATION
Executive Officers
President Jeffrey C. Walker**
Executive Vice President Mitchell J. Blutt, M.D.**
Vice President & Secretary Gregory Meridith*
Vice President & Treasurer Donna L. Carter**
Assistant Secretary Robert C. Carroll*
Directors
William B. Harrison, Jr.*
Jeffrey C. Walker**
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*Principal occupation is employee and/or officer of Chase. Business address is
c/o The Chase Manhattan Corporation, 270 Park Avenue, New York, New York 10017.
**Principal occupation is employee of Chase and/or general partner of CCP.
Business address is c/o Chase Capital Partners, 380 Madison Avenue, 12th Floor,
New York, NY 10017.
Page 8 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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SCHEDULE B
THE CHASE MANHATTAN CORPORATION
Executive Officers*
Walter V. Shipley, Chairman and CEO
Edward D. Miller, Senior Vice Chairman
Thomas G. Labrecque, President and COO
William B. Harrison, Jr., Vice Chairman
Directors**
Principal Occupation or Employment;
Name Business or Residence Address
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Frank A. Bennack, Jr. President and Chief Executive Officer
The Hearst Corporation
959 Eighth Avenue
New York, NY 10019
Susan V. Berresford President
The Ford Foundation
320 East 43rd Street
New York, NY 10017
M. Anthony Burns Chairman, President and CEO
Ryder System, Inc.
3600 N.W. S2nd Avenue
Miami, FL 33166
H. Laurance Fuller Chairman of the Board and
Chief Executive Officer
Amoco Corporation
200 East Randolph Drive
Chicago, IL 60601
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*Principal occupation is executive officer and/or employee of Chase. Business
address is c/o The Chase Manhattan Bank, 270 Park Avenue, New York, New York
10017. Each executive officer of Chase is a U.S. citizen.
**Each of the persons named below is a citizen of the United States of America.
Page 9 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Principal Occupation or Employment;
Name Business or Residence Address
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Melvin R. Goodes Chairman of the Board and
Chief Executive Officer
Warner-Lambert Company
201 Tabor Road
Morris Plains, NJ 07950
William H. Gray, III President and Chief Executive Officer
United Negro College Fund, Inc.
8260 Willow Oaks Corporate Drive
P.O. Box 10444
Fairfax, VA 22031
George V. Grune Retired Chairman and Chief Executive
Officer the Reader's Digest
Association, Inc.
Chairman of the Board
The DeWitt Wallace-Reader's Digest Fund
Lila Wallace-Reader's Digest Fund
2 Park Avenue, 23rd Floor
New York, NY 10016
William B. Harrison, Jr. Vice Chairman of the Board
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Harold S. Hook Chairman of the Board
American General Corporation
2929 Allen Parkway
Houston, TX 77019
Helene L. Kaplan Of Counsel
Skadden, Arps, Slate, Meagher & Flom
919 Third Avenue - Room 29-72
New York, NY 10022
Thomas G. Labrecque President and Chief Operating Officer
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Page 10 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Principal Occupation or Employment;
Name Business or Residence Address
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J. Bruce Llewellyn Chairman of the Board
The Philadelphia Coca-Cola
Bottling Company, The Coca-Cola
Bottling Company of Wilmington, Inc.
and Queen City Broadcasting, Inc.
The Philadelphia Coca-Cola Bottling Company
30 Rockefeller Plaza, 29th Floor
New York, NY 10112
Edward D. Miller Senior Vice Chairman of the Board
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Edmund T. Pratt, Jr. Chairman Emeritus
Pfizer Inc.
Astors Lane
Port Washington, NY 11050
Henry B. Schacht Chairman of the Board and
Chief Executive Officer
Lucent Technologies, Inc.
600 Mountain Avenue - Room 6A511
Murray Hill, NJ 07974
Walter V. Shipley Chairman of the Board and Chief
Executive Officer
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Andrew C. Sigler Retired Chairman of the Board
and Chief Executive Officer
Champion International Corporation
1 Champion Plaza
Stamford, CT 06921
John R. Stafford Chairman, President and Chief
Executive Officer
American Home Products Corporation
Five Giralda Farms
Madison, NJ 07940
Page 11 of 12 Pages
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SCHEDULE 13G
Issuer: Landec Corporation CUSIP Number: 514766100
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Principal Occupation or Employment;
Name Business or Residence Address
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Marina v.N. Whitman Professor of Business Administration
and Public Policy
The University of Michigan
School of Public Policy
411 Lorch Hall, 611 Tappan Street
Ann Arbor, MI 48109-1220
Page 12 of 12 Pages