<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
LIFECORE BIOMEDICAL, INC.
-------------------------
(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
532187101
---------
(CUSIP Number)
Eric B. Jung, Esq.
Johnson & Johnson
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
(732) 524-1249
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 17, 1998
-----------------
(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 Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box.
|_|
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*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 1 of 10 Pages
<PAGE> 2
SCHEDULE 13D
- --------------------------------- -------------------------------
CUSIP No. 532187101 Page 2 of 10 Pages
- --------------------------------- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Johnson & Johnson 22-1024240
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
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(b)
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- -------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
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- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON
WITH
---------------------------------------------------------------
8 SHARED VOTING POWER
752,525
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
752,525
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
752,525
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
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- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
----
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
- --------------------------------- -------------------------------
CUSIP No. 532187101 Page 3 of 10 Pages
- --------------------------------- -------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Johnson & Johnson Development Corporation 22-2007137
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
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(b)
|_|
- -------------------------------------------------------------------------------
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
New Jersey
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON
WITH
---------------------------------------------------------------
8 SHARED VOTING POWER
752,525
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
752,525
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
752,525
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.1%
----
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
CUSIP 532187101 Page 4 of 10 Pages
Items 1-7 of the Statement on Schedule 13D filed pursuant to Rule 13d-1 (the
"Schedule 13D") of the Rules and Regulations under the Securities Exchange Act
of 1934, as amended, by Johnson & Johnson, a New Jersey corporation, and
Johnson & Johnson Development Corporation, a New Jersey corporation, relating
to the shares of Common Stock, $.01 par value per share (the "Common Stock") of
Lifecore Biomedical, Inc. (the "Company"), are hereby amended and restated as
follows:
Item 1. Security and Issuer:
Common Stock, par value $.01 par value
Lifecore Biomedical, Inc.
3515 Lyman Boulevard
Chaska, Minnesota 55318
Item 2. Identity and Background:
(a) Johnson & Johnson ("J&J") and Johnson & Johnson Development
Corporation ("JJDC"), both New Jersey corporations.
(b) One Johnson & Johnson Plaza, New Brunswick, New Jersey 08933.
(c) The principal business of J&J is health care products. JJDC is
a wholly-owned subsidiary of J&J engaged in the venture
capital business.
The name, citizenship, residence or business address and
principal occupation or employment (and the name, principal
business and address of any corporation or other organization
in which such employment is conducted) of each director and
executive officer of J&J and JJDC is set forth on Appendix A
hereto.
(d),(e) To the best of J&J's knowledge, neither J&J nor any of its
directors or executive officers has, during the past five
years: (i) been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or
mandating activities subject to, Federal or State securities
laws or finding any violation with respect to such laws. To
the best of JJDC's knowledge, neither JJDC nor any of its
directors or executive officers has, during the past five
years: (i) been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or
<PAGE> 5
CUSIP 532187101 Page 5 of 10 Pages
mandating activities subject to, Federal or State securities
laws of finding any violation with respect to such laws.
(f) Not applicable.
Item 3. Source and Amount of Funds or Other Consideration:
On August 8, 1994, JJDC purchased from the Company 757,396 shares
of Common Stock of the Company for an aggregate consideration of
$4,000,000, of which $2,600,000 was paid in cash at the closing of
the purchase and of which $1,400,000 was paid in cash previously
deposited with the Company by Ethicon, Inc. ("Ethicon"), a
wholly-owned subsidiary of J&J. Simultaneous with the closing of
such purchase, Ethicon assigned to JJDC all of its right, title and
interest to any of such Common Stock.
On October 18, 1995, JJDC purchased from the Company 205,128 shares
of Common Stock of the Company for $2,000,000.
No funds were borrowed to finance either purchase described above.
On November 15, 1996, JJDC sold 25,000 shares of Common Stock. On
November 20, 1996, JJDC sold 15,000 shares of Common Stock. On
August 15, 1997, JJDC sold 70,000 shares of Common Stock. On
February 12, 1998, JJDC sold 5,000 shares of Common Stock. On
February 17, 1998, JJDC sold 95,000 shares of Common Stock.
Item 4. Purpose of Transaction:
The shares of Common Stock were acquired from the Company for
investment purposes. J&J and JJDC have no present plans or
proposals which relate to, or would result in, any of the actions
enumerated in paragraphs (a) through (j) of this Item.
Item 5. Interest in Securities of the Issuer:
(a) As of February 26, 1998, J&J and JJDC each had beneficial
ownership of an aggregate of 752,525 shares of Common Stock.
Based upon the shares of Common Stock outstanding, as
reported in the Company's Report on Form 10-Q for the
quarter ended December 31, 1997, 752,525 constitute
approximately 6.1% of the outstanding shares of the
Company's Common Stock.
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CUSIP 532187101 Page 6 of 10 Pages
(b) J&J and JJDC each have shared power to vote and shared power
to dispose of all shares described in paragraph (a) above.
(c) Except as described in the response to Item 3 hereof, there
were no transactions in the Common Stock of the Company
effected by J&J or JJDC during the past sixty days.
To the best knowledge of J&J and JJDC, no director or
executive officer of J&J or JJDC beneficially owns any shares
of Common Stock or other securities of the Company. Neither
J&J nor JJDC is aware of any transaction in such securities
during the past sixty (60) days by any of its executive
officers or directors.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, etc.:
Not applicable.
Item 7. Exhibits:
Not applicable.
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CUSIP 532187101 Page 7 of 10 Pages
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.
JOHNSON & JOHNSON
Dated: February 26, 1998 By /s/ P. S. Galloway
---------------------------
Name: Peter S. Galloway
Title: Secretary
JOHNSON & JOHNSON DEVELOPMENT
CORPORATION
Dated: February 26, 1998 By /s/ P.S. Galloway
---------------------------
Name: Peter S. Galloway
Title: Secretary
<PAGE> 8
CUSIP 532187101 Page 8 of 10 Pages
SCHEDULE A
Board of Directors and Executive Officers of
Johnson & Johnson
The directors and executive officers of Johnson & Johnson are
identified in the table below. Directors of Johnson & Johnson are indicated by
an asterisk.
<TABLE>
<CAPTION>
Name Business Address Citizenship Principal Occupation
- ---- ---------------- ----------- --------------------
<S> <C> <C> <C>
1. Dr. Gerard N. Burrow (*) Yale New Haven School United States Dean of the Yale University School of
333 Cedar Street Medicine since 1992
New Haven, CT 06510
2. Joan Ganz Cooney (*) Children's Television Workshop United States Chairman, Children's Television Workshop
One Lincoln Plaza
New York, NY 10023
3. James Cullen (*) Bell Atlantic Corporation United States Vice Chairman of the Board, Bell Atlantic
1310 North Court House Road Corporation
Arlington, VA 22201
Johnson & Johnson
4. Robert J. Darretta One Johnson & Johnson Plaza United States Vice President, Finance and Member,
New Brunswick, NJ 08933 Executive Committee of Johnson & Johnson
5. Russell C. Deyo Johnson & Johnson United States Vice President, Administration, and
One Johnson & Johnson Plaza Member, Executive Committee of Johnson
New Brunswick, NJ 08933 & Johnson
6. Roger S. Fine Johnson & Johnson United States Vice President and General Counsel and
One Johnson & Johnson Plaza Member, Executive Committee of Johnson
New Brunswick, NJ 08933 & Johnson
7. Ronald G. Gelbman Johnson & Johnson United States Member, Executive Committee of Johnson
One Johnson & Johnson Plaza & Johnson
New Brunswick, NJ 08933
8. Philip M. Hawley (*) Philip M. Hawley United States Former Chairman and Chief Executive
Suite 2280 Officer of Carter Hawley Hale Stores, Inc.
444 South Flower Street
Los Angeles, CA 90071-2900
9. JoAnn H. Heisen Johnson & Johnson United States Corporate Vice President, Chief
One Johnson & Johnson Plaza Information Officer, and Member,
New Brunswick, NJ 08933 Executive Committee of Johnson & Johnson
10. Ann Dibble Jordan (*) Johnson & Johnson United States Director of various other corporations
One Johnson & Johnson Plaza
New Brunswick, NJ 08933
11. Christian A. Koffmann Johnson & Johnson France Member, Executive Committee of Johnson
One Johnson & Johnson Plaza & Johnson
New Brunswick, NJ 08933
</TABLE>
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CUSIP 532187101 Page 9 of 10 Pages
<TABLE>
<CAPTION>
Name Business Address Citizenship Principal Occupation
- ---- ---------------- ----------- --------------------
<S> <C> <C> <C>
12. Arnold G. Langbo (*) 111 Capital Avenue, S.W. Canada Chairman of the Board and Chief Executive
Battle Creek, MI 49015 Officer of the Kellogg Company
13. Ralph S. Larsen (*) Johnson & Johnson United States Chairman, Board of Directors, Chief
One Johnson & Johnson Plaza Executive Officer and Chairman, Executive
New Brunswick, NJ 08933 Committee, of Johnson & Johnson
14. James T. Lenehan Johnson & Johnson United States Member, Executive Committee of Johnson
One Johnson & Johnson Plaza & Johnson
New Brunswick, NJ 08933
15. Dr. John S. Mayo (*) AT&T Bell Laboratories, Inc. United States President, Emeritus, AT&T Bell
600 Mountain Avenue Laboratories, Inc.
Murray Hill, NJ 07974
16. Thomas S. Murphy (*) Capital Cities/ABC, Inc. United States Former Chairman of the Board and Chief
77 West 66th Street Executive Officer of Capital Cities/ABC
New York, NY 10023-6298
17. Paul J. Rizzo (*) IBM Corporation United States Retired Vice Chairman of International
Old Orchard Road Business Machines Corporation
Armonk, NY 10504
18. Henry B. Schact (*) Lucent Technologies United States Chairman of the Board of Lucent
600 Mountain Avenue Technologies
Murray Hill, N.J. 07974
19. Maxine F. Singer, Ph.D.(*) Carnegie Institution of Washington United States President of the Carnegie Institution of
1530 P Street, N.W. Washington
Washington, D.C. 20005-1910
20. Roger B. Smith (*) Johnson & Johnson United States Retired Chairman of General Motors
One Johnson & Johnson Plaza Corporation, Member of the Business
New Brunswick NJ 08933 Council and Trustee of the Alfred P. Sloan
Foundation
21. Robert N. Wilson (*) Johnson & Johnson United States Vice Chairman, Board of Directors and
One Johnson & Johnson Plaza Vice Chairman, Executive Committee of
New Brunswick, NJ 08933 Johnson & Johnson
</TABLE>
<PAGE> 10
CUSIP 532187101 Page 10 of 10 Pages
Board of Directors and Executive Officers of
Johnson & Johnson Development Corporation
The directors and executive officers of Johnson & Johnson
Development Corporation are identified in the table below. Directors of Johnson
& Johnson Development Corporation are indicated by an asterisk.
<TABLE>
<CAPTION>
Name Business Address Citizenship Principal Occupation
<S> <C> <C> <C>
1. Blair M. Flicker Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development Corporation
New Brunswick, NJ 08933
2. Peter S. Galloway (*) Johnson & Johnson United States Secretary and Associate General Counsel of
One Johnson & Johnson Plaza Johnson & Johnson; and Vice President and
New Brunswick, NJ 08933 Secretary of Johnson & Johnson Development
Corporation
3. Thomas M. Gorrie, Ph.D. Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development
New Brunswick, NJ 08933 Corporation
4. Susan Lambert Johnson & Johnson United Vice President of
One Johnson & Johnson Plaza Kingdom Johnson & Johnson Development
New Brunswick, NJ 08933
5. Alfred T. Mays Johnson & Johnson United States President, McNeil Specialty Products Company;
One Johnson & Johnson Plaza and Vice President of Johnson & Johnson
New Brunswick, NJ 08933 Development Corporation
6. Ting Pau Oei (*) Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development Corporation
New Brunswick, NJ 08933
7. James R. Utaski (*) Johnson & Johnson United States Corporate Vice President, Business Development
One Johnson & Johnson Plaza of Johnson & Johnson; President of Johnson
New Brunswick, NJ 08933 & Johnson Development Corporation
8. Dr. Brad Vale Johnson & Johnson United States Vice President of
One Johnson & Johnson Plaza Johnson & Johnson Development Corporation
New Brunswick, NJ 08933
</TABLE>
