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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 10)
DAIRY MART CONVENIENCE STORES, INC.
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(Name of Issuer)
CLASS B COMMON STOCK, PAR VALUE 233860105
$.01 PER SHARE
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(Title of class of securities) (CUSIP number)
DM ASSOCIATES LIMITED PARTNERSHIP
C/O GREGORY LANDRY
DAIRY MART CONVENIENCE STORES, INC.
210 BROADWAY EAST
CUYAHOGA FALLS, OHIO 44222
(330) 922-7206
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(Name, address and telephone number of person authorized to receive notices and
communications)
SEPTEMBER 11, 1997
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(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 [_].
Check the following box if a fee is being paid with the statement [_].
(A fee is not required only if the reporting 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.)
Note: When filing this statement in paper format, six copies of this statement,
including exhibits, should be filed with the Commission. See Rule 13d-1(a) for
other parties to whom copies are to be sent.
(Continued on following page(s))
(Page 1 of 9 Pages)
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CUSIP No. 233860105 13D Page 2 of 9
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1 NAME OF REPORTING PERSON: DM ASSOCIATES LIMITED PARTNERSHIP
S.S. OR I.R.S. IDENTIFICATION NO. 06-1334995
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: WC,OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_]
PURSUANT TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF CONNECTICUT
ORGANIZATION:
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7 SOLE VOTING POWER: VOTING POWER WITH RESPECT
TO THE SHARES (AS DEFINED
IN THIS SCHEDULE 13D)
NUMBER OF OWNED OF RECORD BY DM
SHARES ASSOCIATES LIMITED
PARTNERSHIP IS HELD BY ITS
GENERAL PARTNER, NEW DM
MANAGEMENT ASSOCIATES I.
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BENEFICIALLY 8 SHARED VOTING POWER: SEE QUESTION 7 ABOVE.
OWNED BY
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9 SOLE DISPOSITIVE POWER: DISPOSITIVE POWER WITH
RESPECT TO THE SHARES
OWNED OF RECORD BY DM
ASSOCIATES LIMITED
PARTNERSHIP IS HELD BY ITS
EACH GENERAL PARTNER, NEW DM
REPORTING MANAGEMENT ASSOCIATES I,
SUBJECT TO THE CONSENT OF
THE LIMITED PARTNERS OF DM
ASSOCIATES BEING REQUIRED
FOR ANY SALE OF MORE THAN
360,000 SHARES.
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PERSON WITH 10 SHARED DISPOSITIVE POWER: SEE QUESTION 9 ABOVE.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 638,743
REPORTING PERSON:
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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): 40.9%
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14 TYPE OF REPORTING PERSON: PN
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CUSIP No. 233860105 13D Page 3 of 9
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1 NAME OF REPORTING PERSON: NEW DM MANAGEMENT ASSOCIATES I
S.S. OR I.R.S. IDENTIFICATION NO. 06-1417404
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_]
PURSUANT TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF CONNECTICUT
ORGANIZATION:
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7 SOLE VOTING POWER: VOTING POWER OF THE 638,743
SHARES OWNED OF RECORD BY DM
ASSOCIATES LIMITED PARTNERSHIP
IS HELD BY ITS GENERAL
PARTNER, NEW DM MANAGEMENT
ASSOCIATES I. NEW DM
MANAGEMENT ASSOCIATES I WILL
VOTE SUCH SHARES IN SUCH
MANNER AS THE HOLDERS OF A
MAJORITY OF THE PARTNERSHIP
NUMBER OF INTERESTS OF NEW DM MANAGEMENT
SHARES ASSOCIATES I MAY DETERMINE.
ROBERT B. STEIN, JR. AND
GREGORY LANDRY EACH OWN
ONE-HALF OF THE PARTNERSHIP
INTERESTS OF NEW DM MANAGEMENT
ASSOCIATES I.
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BENEFICIALLY 8 SHARED VOTING POWER: SEE QUESTION 7 ABOVE.
OWNED BY
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9 SOLE DISPOSITIVE POWER: DISPOSITIVE POWER WITH RESPECT
TO THE SHARES OWNED OF RECORD
BY DM ASSOCIATES LIMITED
PARTNERSHIP IS HELD BY ITS
GENERAL PARTNER, NEW DM
MANAGEMENT ASSOCIATES I,
SUBJECT TO THE CONSENT OF THE
LIMITED PARTNERS OF DM
ASSOCIATES LIMITED PARTNERSHIP
BEING REQUIRED FOR ANY SALE OF
EACH MORE THAN 360,000 SHARES.
REPORTING ROBERT B. STEIN, JR., AS THE
MANAGING GENERAL PARTNER OF
NEW DM MANAGEMENT ASSOCIATES
I, HAS THE POWER TO DISPOSE OF
THE SHARES ON BEHALF OF NEW DM
MANAGEMENT ASSOCIATES I.
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CUSIP No. 233860105 13D Page 4 of 9
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PERSON WITH 10 SHARED DISPOSITIVE POWER: SEE QUESTION 9 ABOVE.
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 638,743
REPORTING PERSON:
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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): 40.9%
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14 TYPE OF REPORTING PERSON: PN
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CUSIP No. 233860105 13D Page 5 of 9
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1 NAME OF REPORTING PERSON: ROBERT B. STEIN, JR.
S.S. OR I.R.S. IDENTIFICATION NO. ###-##-####
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_]
PURSUANT TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
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NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 638,743
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 638,743
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 638,743
REPORTING PERSON:
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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): 40.9%
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14 TYPE OF REPORTING PERSON: IN
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CUSIP No. 233860105 13D Page 6 of 9
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1 NAME OF REPORTING PERSON: GREGORY G. LANDRY
S.S. OR I.R.S. IDENTIFICATION NO. ###-##-####
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_]
PURSUANT TO ITEM 2(d) OR 2(e):
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6 CITIZENSHIP OR PLACE OF UNITED STATES
ORGANIZATION:
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NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 638,743
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 638,743
REPORTING PERSON:
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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): 40.9%
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14 TYPE OF REPORTING PERSON: IN
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<PAGE>
This is the tenth amendment to a Schedule 13D filed by a group
currently comprised of DM Associates Limited Partnership ("DM Associates"), New
DM Management Associates I ("DM Management I"), Robert B. Stein, Jr. ("Stein")
and Gregory G. Landry ("Landry") (collectively, the "Reporting Persons") with
respect to shares of Class B Common Stock, par value $.01 per share (the
"Shares") of Dairy Mart Convenience Stores, Inc., a Delaware corporation (the
"Company").
Item 1. Security and Issuer.
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The Company's principal executive offices are located at 210 Broadway
East, Cuyahoga Falls, Ohio 44222.
Item 5. Interest in Securities of the Issuer.
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The following table sets forth certain information concerning
beneficial ownership of Shares by each Reporting Person:
SHARES
BENEFICIALLY PERCENT OF
NAME OF REPORTING PERSON OWNED CLASS (1)
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DM Associates 638,743 40.9% (2)
DM Management I 638,743 40.9% (3)
Robert B. Stein, Jr. 638,743 40.9% (4)
Gregory G. Landry 638,743 40.9% (5)
(1) Based on 1,563,060 Class B Shares issued and outstanding as of August
2, 1997.
(2) Voting and dispositive power with respect to the Shares (as defined in
this Schedule 13D) owned of record by DM Associates are held by its
general partner, DM Management I, subject to the consent of the limited
partners of DM Associates being required for any sale of more than
360,000 Shares.
(3) Voting power of the 638,743 Shares owned of record by DM
Associates is held by its general partner, DM Management I.
DM Management I will vote such Shares in such manner as the
holders of a majority of the partnership interests of DM
Management I may determine. Robert B. Stein, Jr. and
Gregory Landry each own one-half of the partnership
interests of DM Management I. Dispositive power with
7
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respect to the Shares owned of record by DM Associates is held by DM
Management I, subject to the consent of the limited partners of DM
Associates being required for any sale of more than 360,000 Shares.
Robert B. Stein, Jr., as the managing general partner of DM Management
I, has the power to dispose of the Shares on behalf of DM Management I.
(4) Includes: 638,743 Shares as to which Mr. Stein has sole
dispositive power, as the managing general partner of DM
Management I, and shares voting power with Mr. Landry, as
general partner of DM Management I. Does not include
148,573 shares of Class A Common Stock beneficially owned by
Mr. Stein, 123,610 of which are subject to currently
exercisable options and options that will become exercisable
in the next 60 days.
(5) Includes: 638,743 Shares as to which Mr. Landry shares voting power
with Mr. Stein, as general partner of DM Management I. Does not include
94,540 shares of Class A Common Stock beneficially owned by Mr. Landry,
88,290 of which are subject to currently exercisable options and
options that will become exercisable in the next 60 days.
Each Reporting Person expressly declares that such Reporting Person is
not part of a "group", within the meaning of Rule 13d- 1(b)(2) and Rule
13d-5(b)(1) of the Act, with any other Reporting Person and that the filing of
this Schedule 13D by each Reporting Person shall not be construed as an
admission that such Reporting Person is, for purposes of Section 13(d) or 13(g)
of the Act, the beneficial owner of any Shares reported in this Schedule 13D
other than the Shares listed next to the Reporting Person's name in the column
"Shares Beneficially Owned" in the foregoing table.
During the past sixty days, none of the Reporting Persons effected any
transactions in the Shares, except that on September 12, 1997 DM Associates
transferred 1,220,000 Shares to the Company in respect of the Company's rights
as the holder of a secured note executed by DM Associates.
8
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SIGNATURES
After reasonable inquiry and the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
NEW DM MANAGEMENT ASSOCIATES I
By: /s/Robert B. Stein, Jr.
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Robert B. Stein, Jr.
Its Managing Partner
DM ASSOCIATES LIMITED PARTNERSHIP
By: New DM Management Associates I
Its General Partner
By: /s/Robert B. Stein, Jr.
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Robert B. Stein, Jr.
Its Managing General Partner
/s/Robert B. Stein, Jr.
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Robert B. Stein, Jr.
/s/Gregory G. Landry
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Gregory G. Landry
Date: September 25, 1997
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