UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
KERR GROUP, INC.
------------------------
(NAME OF ISSUER)
COMMON STOCK
--------------------------------------
(TITLE OF CLASS OF SECURITIES)
492376 10 8
-------------
(CUSIP Number)
Nelson Obus, Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza, Suite 4720, New York, New York 10119, (212) 760-0814
and
Jesse R. Meer, Esq.
Berlack, Israels & Liberman, LLP,
120 West 45th Street, New York, N.Y. 10036, (212) 704-0100
------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER
OF PERSONS AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
February 20, 1997
-------------------------------------------------------
(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 [ ].
(Page 1 of 6 Pages)
<PAGE>
SCHEDULE 13D
- ---------------------- ------------------------------
CUSIP NO. 492376 10 8 PAGE 2 OF 6 PAGES
- ---------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: WYNNEFIELD PARTNERS SMALL CAP VALUE, L. P.
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON: 13-3688497
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(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 (e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 356,700
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------
8 SHARED VOTING POWER
NONE
--------------------------------------
9 SOLE DISPOSITIVE POWER
356,700
--------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
356,700 SHARES
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.069%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(Page 2 of 6 Pages)
<PAGE>
SCHEDULE 13D
- ---------------------- ------------------------------
CUSIP NO. 492376 10 8 PAGE 3 OF 6 PAGES
- ---------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: WYNNEFIELD PARTNERS SMALL CAP VALUE
OFFSHORE FUND LTD.
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON: NOT APPLICABLE
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(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 (e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
CAYMAN ISLANDS
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 36,500
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------
8 SHARED VOTING POWER
NONE
--------------------------------------
9 SOLE DISPOSITIVE POWER
36,500
--------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
36,500 SHARES
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.928%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
(Page 3 of 6 Pages)
<PAGE>
SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of the common stock of Kerr Group, Inc.
(the "Issuer"). The Issuer's principal executive offices are located at 500 New
Holland Avenue, Lancaster, PA 17602.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Wynnefield Partners Small Cap Value,
L.P., a limited partnership formed under the laws of the State of Delaware (the
"Partnership") and Wynnefield Small Cap Value Offshore Fund Ltd., an Exempted
Company formed under the laws of the Cayman Islands (the "Offshore Fund"). The
principal business of the Partnership and the Offshore Fund is investments. The
address of the principal offices of the Partnership is One Penn Plaza, Suite
4720, New York, New York 10119 and the address of the principal offices of the
Offshore Fund is c/o Olympia Capital (Cayman) Ltd., Williams House, 20 Reid
Street, Hamilton HM 11, Bermuda.
Nelson Obus and Joshua Landes are the general partners of the Partnership
and their principal business address is the same as the Partnership's. The
principal occupations of Messrs. Obus and Landes are acting as the general
partners and managing investments of the Partnership.
Messrs. Obus and Landes are also the and are the President and Executive
Vice President, respectively, of Wynnefield Capital Inc. ("Wynnefield"), a
corporation organized under the laws of Delaware. Wynnefield is the investment
manager of the Offshore Fund.
During the past five years, neither the Partnership, the Offshore Fund,
Wynnefield, Mr. Obus nor Mr. Landes (a) has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (b) has
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction, as a result of which it or he 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.
Messrs. Obus and Landes are citizens of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
356,700 shares of the Issuer's common stock have been purchased by the
Partnership for cash aggregating $1,027,103 including commissions. The cash was
provided from the working capital of the Partnership. 36,500 shares of the
Issuer's common stock have been were purchased by the Offshore Fund for cash
aggregating $76,450 which was provided from its working capital.
ITEM 4. PURPOSE OF TRANSACTION.
The Partnership and the Offshore fund intend to monitor the Issuer's
efforts to restructure its existing debt and to carefully evaluate any proposed
related recapitalization which would affect shareholder value. The Securities
(as defined below) were purchased for investment and to enhance the ability of
the Partnership and the Offshore Fund to monitor and evaluate the Issuer's
restructuring and recapitalization plans.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The Partnership owns 356,000 shares of the Issuer's common stock and the
Offshore Fund owns 36,500 shares of the Issuer's common stock (together, the
"Securities"). The Securities represent approximately 9.97% of the Issuer's
common stock outstanding as of October 23, 1996, based on the Issuer's most
recent Quarterly Report on Form 10-Q.
(Page 4 of 6)
<PAGE>
Messrs. Obus and Landes, as the general partners of the Partnership and as
the officers of Wynnefield, the investment manager of the Offshore Fund, have
the sole power to vote, or to direct the vote, or to direct the sale or other
disposition of, the Securities and have the sole power to receive or to direct
the receipt of the proceeds from the sale of the Securities, or any dividends
paid with respect to the Securities.
Since January 13, 1997 (the date of Amendment No. 2 to this Schedule 13D),
the Partnership purchased 77,300 shares of the Issuer's common stock as set
forth in the following table:
=====================================================
Price per
Number Share
of Shares (including
Date of Purchase Purchased commissions)
-----------------------------------------------------
January 30, 1997 2,500 $2.31
-----------------------------------------------------
February 3, 1997 4,500 2.175
-----------------------------------------------------
February 10, 1997 10,000 2.415
-----------------------------------------------------
February 11, 1997 7,300 2.29
-----------------------------------------------------
February 13, 1997 10,000 2.29
-----------------------------------------------------
February 14, 1997 700 2.29
-----------------------------------------------------
February 18, 1997 7,600 2.29
-----------------------------------------------------
February 19, 1997 3,700 2.29
-----------------------------------------------------
February 20, 1997 31,000 2.052
=====================================================
Since January 13, 1997, the Offshore Fund purchased 6,500 shares of the
Issuer's common stock at a price per share (including commissions) of $2.30. The
purchase was made on January 29, 1997.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Neither the Partnership, the Offshore Fund, Mr. Obus nor Mr. Landes has any
contracts, arrangements, understandings or relationships (legal or otherwise)
with respect to the Securities. None of the Securities is pledged or otherwise
subject to a contingency, the occurrence of which would give another person
voting or investment power over the Securities.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None
(Page 5 of 6 Pages)
<PAGE>
SIGNATURES
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.
February 21, 1997
- ----------------------
(Date)
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: /s/ NELSON OBUS
--------------------------------
Nelson Obus, General Partner
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND LTD.
By: /s/ JOSHUA LANDES
--------------------------------
Joshua Landes, Director
(Page 6 of 6 Pages)
