UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. ____)*
PJ America, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
72585Q10
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(CUSIP Number)
August 4, 1998
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(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 disclosures provided in a prior cover page.
The information required on 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>
CUSIP Number 72585Q10
Page 2 of 14
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
A Few Valuable Businesses Partnership
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
125,200
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
125,200
-----------------------------------------------------------
8. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
125,200
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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)
2.2%
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12. Type of Reporting Person (See Instructions)
PN
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<PAGE>
CUSIP Number 72585Q10
Page 3 of 14
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Team Partnership
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
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3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
10,081
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------------
Person With:
7. Sole Dispositive Power
10,081
-----------------------------------------------------------
8. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,081
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
0.1%
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12. Type of Reporting Person (See Instructions)
PN
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<PAGE>
CUSIP Number 72585Q10
Page 4 of 14
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Capital Partner Investments Partnership
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
North Carolina
- --------------------------------------------------------------------------------
5. Sole Voting Power
191,400
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
191,400
-----------------------------------------------------------
8. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
191,400
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
3.3%
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12. Type of Reporting Person (See Instructions)
PN
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<PAGE>
CUSIP Number 72585Q10
Page 5 of 14
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
John M. Day
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
31,481
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 430,000
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
31,481
-----------------------------------------------------------
8. Shared Dispositive Power
430,000
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
461,481
- --------------------------------------------------------------------------------
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)
8.0%
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12. Type of Reporting Person (See Instructions)
IN
<PAGE>
CUSIP Number 72585Q10
Page 6 of 14
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Maynard Capital Partners, L.L.C.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
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3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
304,800
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
304,800
-----------------------------------------------------------
8. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
304,800
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
5.3%
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12. Type of Reporting Person (See Instructions)
OO
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<PAGE>
CUSIP Number 72585Q10
Page 7 of 14
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Investors Management Corporation
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
0
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 430,000
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
0
-----------------------------------------------------------
8. Shared Dispositive Power
430,000
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
430,000
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
7.4%
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12. Type of Reporting Person (See Instructions)
CO
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<PAGE>
CUSIP Number 72585Q10
Page 8 of 14
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
James Maynard
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States
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5. Sole Voting Power
0
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares 430,000
Beneficially Owned -----------------------------------------------------------
By Each Reporting 7. Sole Dispositive Power
Person With:
0
-----------------------------------------------------------
8. Shared Dispositive Power
430,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
430,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
7.4%
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12. Type of Reporting Person (See Instructions)
IN
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<PAGE>
CUSIP Number 72585Q10
Page 9 of 14
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Reporting Person
Worthy Companies Partnership
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2. Check the Appropriate Box if a Member of a Group
(See Instructions) (a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Citizenship or Place of Organization
North Carolina
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5. Sole Voting Power
113,400
-----------------------------------------------------------
6. Shared Voting Power
Number of Shares
Beneficially Owned 0
By Each Reporting -----------------------------------------------------------
Person With: 7. Sole Dispositive Power
113,400
-----------------------------------------------------------
8. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
113,400
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
Not Applicable
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11. Percent of Class Represented by Amount in Row (9)
2.0%
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12. Type of Reporting Person (See Instructions)
PN
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<PAGE>
CUSIP Number 72585Q10
Page 10 of 14
Item 1. Issuer
(a) PJ America, Inc.
(b) 9109 Parkway East, Birmingham, Alabama 35206
Item 2. Persons Filing
(a) 1. A Few Valuable Businesses Partnership
2. Team Partnership
3. Capital Partner Investments Partnership
4. John M. Day
5. Maynard Capital Partners, L.L.C.
6. Investors Management Corporation
7. James Maynard
8. Worthy Companies Partnership
Attached as Exhibit 1 is a copy of an agreement by and among the Reporting
Persons to the effect that this Schedule 13G is being filed on behalf of
each of them.
The executive officers and directors of Investors Management Corporation are as
follows:
<TABLE>
<CAPTION>
Name Position
---- --------
<S> <C>
James H. Maynard Chairman, President, Chief Executive Officer, Treasurer and
Director
Gene T. Aman Vice President
Ronald M. Barbee Vice President
John M. Day Vice President
Richard A. Urquhart III Vice President-Finance, and Secretary
Doris F. Baldwin Assistant Secretary
Robert B. Heyward Assistant Secretary
Mark E. Burling Assistant Secretary
Wayman O. Leftwich, Jr. Director
Paul A. DelaCourt Director
Ira J. Hechler Director
Louis W. Sewell Director
</TABLE>
(b) Address of the principal business office of each of the persons
identified in 2(a) above: 5151 Glenwood Avenue, Raleigh, North
Carolina 27612 (except for
<PAGE>
CUSIP Number 72585Q10
Page 11 of 14
Variety Wholesalers, Inc. and John W. Pope, each of whose
principal business address is 3401 Gresham Lake Road, Raleigh,
North Carolina 27615)
(c) See Row (4) on Pages 2-9
(d) Common Stock
(e) Cusip Number 72585Q10
Item 3. Filing Pursuant to Rules 13d-1(b) or 13d-2(b)
Not Applicable
Item 4. Ownership
(a) See Row (9) on Pages 2-9
(b) See Row (11) on Pages 2-9
(c) See Rows (5)-(8) on Pages 2-9
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
This Statement on Schedule 13G (the "Statement") constitutes the
initial filing as a group of certain related parties (the "Reporting
Persons") consisting of: A Few Valuable Businesses Partnership, a
North Carolina general partnership ("AFVBP"); Team Partnership, a
North Carolina general partnership ("Team Partnership"); Capital
Partner Investments Partnership, a North Carolina general partnership
("Capital Partner"); John M. Day, a managing partner of Team
Partnership and a co-managing partner of AFVBP; Maynard Capital
Partners, L.L.C. ("MCP"), a North Carolina limited liability company
and the managing partner of each of Capital Partners and Worthy
Companies Partnership; Investors Management Corporation, a North
Carolina corporation, the other co-manager of AFVBP and controlling
shareholder of MCP ("IMC"); James Maynard, the majority
shareholder of IMC ("Mr. Maynard");
<PAGE>
CUSIP Number 72585Q10
Page 12 of 14
and Worthy Companies Partnership, a North
Carolina general partnership.
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
(a) Not Applicable
(b) By signing below, the undersigned hereby certify that, to the
best of their knowledge and belief, the securities reported
herein were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the
issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purpose
or effect.
After reasonable inquiry and to the best of our knowledge and
belief, the undersigned certify that the information set forth in
this statement is true, complete and correct.
Dated: August 13, 1998
A Few Valuable Businesses Partnership
By: /s/ JOHN M. DAY (SEAL)
----------------------
John M. Day,
Managing Partner
Team Partnership
By: /s/ JOHN M. DAY (SEAL)
---------------------
John M. Day,
Managing Partner
<PAGE>
CUSIP Number 72585Q10
Page 13of 14
Capital Partner Investments Partnership
By: /s/ JOHN M. DAY (SEAL)
----------------------
John M. Day,
Managing Partner
Maynard Capital Partners, L.L.C.
By: /s/ JOHN M. DAY (SEAL)
------------------------
John M. Day,
Managing Partner
Investors Management Corporation
By: /s/ R. A. URQUHART, III
-------------------------
Name: R. A. Urquhart, III
Title: Vice President
/s/ JOHN M. DAY (SEAL)
----------------------------
John M. Day
<PAGE>
CUSIP Number 72585Q10
Page 14 of 14
/s/ JAMES MAYNARD (SEAL)
----------------------------
James Maynard
Worthy Companies Partnership
By: /s/ JOHN M. DAY
--------------------------
John M. Day,
Managing Partner
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT AND POWER OF ATTORNEY
In accordance with Rule 13d-1(K) under the Securities Exchange Act of 1934,
as amended, the persons named below agree to the joint filing on behalf of each
of them of this Statement on Schedule 13G to be filed with the Securities and
Exchange Commission with respect to the Common Stock, par value $.01 per share,
of PJ America, Inc., and further agree that this Joint Filing Agreement be
included as an Exhibit to such joint filings.
In addition, each person whose signature appears below hereby constitutes
and appoints John M. Day and Gene T. Aman his, her, or its true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him, her, or its and in his, her, or its name, place and
stead, in any and all capacities (until revoked in writing) to sign any and all
instruments, certificates and documents required to be executed on behalf of
him, her, or it as an individual or entity pursuant to Sections 13(d) and 13(g)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act, granting unto said attorneys-in-fact and agents
full power and authority to do and perform each and every act and thing
necessary fully for all intents and purposes as he, she, or it might or could do
in person, thereby ratifying and confirming all that said attorneys-in-fact and
agents, or their substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
In evidence thereof the undersigned, being duly authorized, hereby execute
this Agreement on this 13th day of August 1998.
A Few Valuable Businesses Partnership
By: /s/ JOHN M. DAY (SEAL)
------------------------
John M. Day,
Managing Partner
Team Partnership
By: /s/ JOHN M. DAY (SEAL)
-----------------------
John M. Day,
Managing Partner
<PAGE>
Capital Partner Investments Partnership
By: /s/ JOHN M. DAY (SEAL)
------------------------
John M. Day,
Managing Partner
Maynard Capital Partners, L.L.C.
By: /s/ JOHN M. DAY (SEAL)
------------------------
John M. Day,
Managing Partner
Investors Management Corporation
By: /s/ R. A. URQUHART, III
Name: R. A. Urquhart, III
Title: Vice President
/s/ JOHN M. DAY (SEAL)
-----------------------------
John M. Day
2
<PAGE>
/s/ JAMES MAYNARD (SEAL)
---------------------------------
James Maynard
Worthy Companies Partnership
By: /s/ JOHN M. DAY (SEAL)
------------------------------
John M. Day,
Managing Partner
3
