SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AMENDMENT NO. 4
MARKETING SPECIALISTS CORPORATION f/k/a
MERKERT AMERICAN CORPORATION
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(Name of Issuer)
Common Stock,
Par Value $.01 Per Share
-----------------------------------------------------------
(Title of Class and Securities)
590080107
-----------------------------------------------------------
(CUSIP Number of Class of Securities)
Nick G. Bouras
MS Acquisition Ltd.
17855 North Dallas Parkway
Suite 200
Dallas, Texas 75287
(972)860-7520
Copy to:
Eileen T. Nugent, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036
(212) 735-3000
-------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 7, 2000
-------------------------------------------------------------
(Date of Event Which Requires
Filing of This Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Statement because of Rule 13d-1(b)(3) or (4), check the
following: ( )
Check the following box if a fee is being paid with this
Statement: ( )
SCHEDULE 13D
CUSIP No. 590080107
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MS Acquisition Ltd.
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
WC
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES -----------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING -----------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
PN
-----------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MSSC Acquisition Corporation
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING ___________________________________
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
CO
-----------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Richmont Capital Partners I, L.P.
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES ___________________________________
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING ___________________________________
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
PN
-----------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
J.R. Investments Corp.
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES -----------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING -----------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
CO
-----------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
John P. Rochon
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES -----------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING -----------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
IN
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Nick G. Bouras
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-----------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES -----------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING -----------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
IN
----------------------------------------------------------------
SCHEDULE 13D
CUSIP No. 590080107
-----------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Timothy M. Byrd
-----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) ( )
(b) (X)
-----------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------
(4) SOURCE OF FUNDS
OO
-----------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) ( )
-----------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
TEXAS
-----------------------------------------------------------------
(7) SOLE VOTING POWER
9,600,617
NUMBER OF SHARES -----------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
OWNED BY
EACH 3,485,972
REPORTING -----------------------------------
PERSON WITH (9) SOLE DISPOSITIVE POWER
9,600,617
-----------------------------------
(10) SHARED DISPOSITIVE POWER
None
-----------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,086,589
-----------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES ( )
-----------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
67.3%
-----------------------------------------------------------------
(14) TYPE OF REPORTING PERSON
IN
This Amendment No. 4 to Schedule 13D (this "Amendment") is
being filed pursuant to Rule 13d-2 of the Rules and Regulations under the
Securities Exchange Act of 1934, as amended (the "Act") by MS Acquisition
Ltd., a Texas limited partnership ("MS Acquisition"), MSSC Acquisition
Corporation, a Delaware corporation ("MSSC"), Richmont Capital Partners I,
L.P., a Delaware limited partnership ("RCPI"), J.R. Investments Corp., a
Delaware corporation ("JRIC"), John P. Rochon, a citizen of the State of
Texas ("Rochon"), Nick G. Bouras, a citizen of the State of Texas
("Bouras"), and Timothy M. Byrd, a citizen of the State of Texas ("Byrd"),
with respect to the common stock, par value $.01 per share (the "Common
Stock"), of Marketing Specialists Corporation, formerly known as Merkert
American Corporation, a Delaware corporation (the "Company"). This
Amendment amends the Schedule 13D filed by MS Acquisition, MSSC, RCPI, JRIC
and Richmont Marketing Specialists Inc. on May 7, 1999, as amended and
restated by Amendment No. 1 thereto filed on August 18, 1999, as further
amended by Amendment No. 2 thereto filed on January 7, 2000, and as further
amended by Amendment No. 3 thereto filed on April 3, 2000.
The Schedule 13D previously filed is hereby amended by the addition
of the following information:
Item 3. Source and Amount of Funds or Other Consideration
Proposed Acquisition of Beneficial Ownership
Pursuant to the terms of a letter sent to the Company's board of
directors, RCPI and certain investors have proposed to acquire the
remaining outstanding shares of common stock of the Company at a price of
$2.50 per share. A copy of the letter is attached hereto as Exhibit 11.
It is expected that the funds to be used by RCPI or such other
investors in the proposed acquisition of the remaining shares of the
Company will be drawn from the working capital of such entities and from
funds held by them for investment.
Item 4. Purpose of Transactions
Proposed Acquisition of Beneficial Ownership
Pursuant to the terms of a letter sent to the Company's board of
directors, RCPI and certain investors have proposed to acquire the
remaining outstanding shares of common stock of the Company at a price of
$2.50 per share.
The Item 2 Persons may buy or sell additional shares of Common
Stock in the open market or otherwise on such terms and at such times as
the Item 2 Persons consider desirable. Any decision by the Item 2 Persons
to increase, decrease or dispose of their position in the Company would be
based upon factors, including but not limited to, the business of the
Company, the price of the shares of Common Stock, the terms and conditions
of the transaction and prevailing market conditions.
Item 7. Material Filed as Exhibits.
--------------------------
Exhibit I - - Joint Filing Agreement among RMSI, MS
Acquisition, MSSC, RCPI and JRIC.
Exhibit II - - Voting Agreement, dated as of April 28, 1999,
between RMSI, Monroe & Company II, LLC, Joseph
T. Casey, Glenn F. Gillam, Douglas H.
Holstein, Gerald R. Leonard, Sidney D. Rogers,
Jr. and Thomas R. Studer.
Exhibit III - - Agreement and Plan of Merger, dated as of
April 28, 1999, by and among the Company,
RMSI, MS Acquisition, Ronald D. Pedersen,
Bruce A. Butler, Gary R. Guffey and Jeffrey A.
Watt.
Exhibit IV - - Form of Certificate of Merger and Exhibit A to
Certificate of Merger.
Exhibit V - - Post-Merger Voting Agreement, by and among MS
Acquisition, Ronald D. Pedersen, Bruce A.
Butler, Gary R. Guffey, Jeffrey A. Watt,
Monroe & Company, LLC and JLM Management
Company, LLC.
Exhibit VI - - Registration Rights Agreement, dated as of
August 18, 1999, by and among Merkert American
Corporation, MS Acquisition Limited, Ronald D.
Pedersen, Bruce A. Butler, Gary R. Guffey and
Jeffrey A. Watt.
Exhibit VII - - Joint Filing Agreement among MS Acquisition,
MSSC, RCPI, JRIC, Rochon, Bouras and Byrd.
Exhibit VIII - - Common Stock Purchase Agreement, dated as of
January 7, 2000, by and between Marketing
Specialists Corporation and MS Acquisition
Limited.
Exhibit IX - - Common Stock Purchase Agreement, dated as of
March 30, 2000, by and between Marketing
Specialists Corporation and MS Acquisition
Limited.
Exhibit X - - Stockholders Agreement, dated as of March 30,
2000, by and among Marketing Specialists
Corporation, First Union Investors, Inc. and
MS Acquisition Limited.
Exhibit XI - - Letter, dated as of June 7, 2000, from
Richmont Capital Partners I, L.P. to the board
of directors of Marketing Specialists
Corporation.*
* Filed with this Amendment.
SIGNATURE
After reasonable inquiry and to the best of our knowledge
and belief, we certify that the information set forth in this statement is
true, complete and correct.
Dated: June 8, 2000 MS ACQUISITION LTD.
By: MSSC Acquisition Corporation,
General Partner
By: /s/ Nick G. Bouras
Name: Nick G. Bouras
Title: Vice President
EXHIBIT INDEX
Exhibit I - Joint Filing Agreement among RMSI, MS Acquisition,
MSSC, RCPI and JRIC
Exhibit II - Voting Agreement, dated as of April 28, 1999,
between RMSI, Monroe & Company II, LLC,
Joseph T. Casey, Glenn F. Gillam, Douglas H.
Holstein, Gerald R. Leonard, Sidney D.
Rogers, Jr. and Thomas R. Studer
Exhibit III - Agreement and Plan of Merger, dated as of
April 28, 1999, by and among the Company,
RMSI, MS Acquisition, Ronald D. Pedersen,
Bruce A. Butler, Gary R. Guffey and Jeffrey
A. Watt
Exhibit IV - Form of Certificate of Merger and Exhibit A to
Certificate of Merger
Exhibit V - Post-Merger Voting Agreement, by and among MS
Acquisition, Ronald D. Pedersen, Bruce A.
Butler, Gary R. Guffey, Jeffrey A. Watt,
Monroe & Company, LLC and JLM Management
Company, LLC
Exhibit VI - Registration Rights Agreement, dated as of August 18, 1999,
by and among Merkert American Corporation, MS Acquisition
Limited, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey
and Jeffrey A. Watt.
Exhibit VII - Joint Filing Agreement among MS Acquisition,
MSSC, RCPI, JRIC, Rochon, Bouras and Byrd.
Exhibit VIII - Common Stock Purchase Agreement, dated as of
January 7, 2000, by and between Marketing Specialists
Corporation and MS Acquisition Limited.
Exhibit IX - Common Stock Purchase Agreement, dated as of March 30, 2000,
by and between Marketing Specialists Corporation and MS
Acquisition Limited.
Exhibit X - Stockholders Agreement, dated as of March 30, 2000, by and
among Marketing Specialists Corporation, First Union
Investors, Inc. and MS Acquisition Limited.
Exhibit XI - Letter, dated as of June 7, 2000, from Richmont Capital
Partners I, L.P. to the board of directors of Marketing
Specialists Corporation.*
*Filed with this Amendment
EXHIBIT XI
[Richmont letterhead]
June 7, 2000
Confidential
The Board of Directors
Marketing Specialists Corporation
17855 Dallas Parkway
Suite 200
Dallas, Texas 75827
Gentlemen:
As you are aware, Richmont Capital Partners I, L.P. ("RCPI"),
through its wholly-owned subsidiary MS Acquisition Ltd., is the beneficial
owner of approximately 49% of the issued and outstanding common stock of
Marketing Specialists Corporation (the "Company"). A group comprised of
RCPI and certain investors are prepared to offer to acquire the remaining
outstanding shares of common stock of the Company, on the terms and subject
to the conditions set forth in this letter, at a price of $2.50 per share.
We believe that our price is fair to, and in the best interests of,
the Company's stockholders. The proposed acquisition price represents a
premium of nearly 150% over the closing price of the Company's common stock
over the last five trading days. Our price values the Company on an
enterprise-value basis of nearly $350.0 million, which represents a
multiple of more than seven times the Company's projected annual EBITDA.
We are aware that the Board of Directors of the Company recently
formed a Special Committee of independent directors to explore strategic
alternatives for the Company; we assume that the Board will want to engage
some group of its disinterested directors -- perhaps this Special Committee
-- to consider our proposal with its financial advisors and outside
counsel. We hereby request that the Board authorize such a committee and
its advisors to take such action and perform such analyses as may be
appropriate in order for them to be in a position to respond promptly to
our proposal and make a recommendation to the Company's stockholders.
RCPI is prepared to proceed expeditiously to complete this
transaction. In this regard, we anticipate performing only a limited due
diligence investigation of the Company, which will consist primarily of
updating our understanding of the operations of the Company, its business
and its financial condition.
Nothing in this letter shall be binding on any of the parties
hereto until the execution of a definitive agreement on terms satisfactory
to all the parties thereto. We reserve the right to withdraw or modify this
proposal at any time.
We look forward to meeting with the members of the Special
Committee and its financial advisors as soon as possible to explain our
offer in more detail and address any questions that the Special Committee
or its advisors may have.
Thank you for your consideration in this matter. We look forward to
hearing from you soon.
Sincerely
RICHMONT CAPITAL PARTNERS I, L.P.
By: /s/ Nick G. Bouras
