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| FORM 3 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION
+--------+ Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
M-FOODS INVESTORS, LLC
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(Last) (First) (Middle)
c/o Vestar Capital Partners IV, L.P.
245 Park Avenue, 41st Floor
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(Street)
New York New York 10167
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 12/21/2000
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3. IRS Identification Number of Reporting Person, if an Entity
(Voluntary) Applied For
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4. Issuer Name and Ticker or Trading Symbol MICHAEL FOODS, INC. NASDAQ-"MIKL"
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year) N/A
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7. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form Filed by One Reporting Person
X
_____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock See Note 1 See Note 1 See Note 1
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see instruction
5(b)(v).
SEC 1473 (7-96)
Page 1 of 6
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FORM 3 (continued)
TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Securities: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
---------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses: See attached sheet.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
M-FOODS INVESTORS, LLC
/s/ Jack M. Feder 01/02/2001
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**Signature of Reporting Person Date
SEC 1473 (7-96)
Page 2 of 6
<PAGE>
Attachment to Form 3
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Name and Address of Reporting Person:
M-Foods Investors, LLC
c/o Vestar Capital Partners IV, L.P.
245 Park Avenue, 41st Floor
New York, New York 10167
Date of Event Requiring Statement:
12/21/2000
Issuer Name and Ticket or Trading Symbol:
Michael Foods, Inc.
NASDAQ - "MIKL"
Pursuant to Rule 16a-3(j) promulgated under the Exchange Act, this
Form 3 is also being filed on behalf of the Reporting Persons listed below.
Except as set forth below, all of the information set forth in this
Form 3 filed by M-Foods Investors, LLC ("Investors") is identical with respect
to the additional Reporting Persons set forth below.
Name of Reporting Person:
1. Vestar Capital Partners IV, L.P., a Delaware limited partnership
("Vestar"), is the sole unitholder of Investors; c/o Vestar Capital
Partners IV, L.P., 245 Park Avenue, 41st Floor, New York, New York, 10167.
2. Vestar Associates IV, L.P., a Delaware limited partnership ("Associates"),
is general partner of Vestar; c/o Vestar Capital Partners IV, L.P., 245
Park Avenue, 41st Floor, New York, New York, 10167.
3. Vestar Associates Corporation IV, a Delaware corporation, is general
partner of Associates; c/o Vestar Capital Partners IV, L.P., 245 Park
Avenue, 41st Floor, New York, New York, 10167.
4. Marathon Fund Limited Partnership IV, a Delaware limited partnership
("Marathon"); Miltiades, LLC, a Delaware limited liability company, is the
sole general partner of Marathon; c/o Goldner Hawn Johnson and Morrison,
5250 Wells Fargo Center, 90 South Seventh Street, Minneapolis, Minnesota
55402-4123.
5. Miltiades, LLC, a Delaware limited liability company, is the sole general
partner of Marathon.
Page 3 of 6
<PAGE>
Explanation of Responses: Name and Address of Reporting Person:
M-Foods Investors, LLC
c/o Vestar Capital Partners IV, L.P.
245 Perk Avenue, 41st Floor
New York, New York 10167
Date of Event Requiring Statement:
12/21/2000
Issuer Name and Ticker or Trading Symbol:
Michael Foods, Inc.
NASDAQ--"MIKL"
Note 1.
On December 21, 2000, a Special Committee of the Board of Directors of
the Issuer approved, and the Issuer, M-Foods Holdings, Inc., a Delaware
corporation ("Holdings"), and Protein Acquisition Corp., a Minnesota corporation
and wholly owned subsidiary of Holdings ("MergerSub"), entered into, an
Agreement and Plan of Merger (the "Merger Agreement") providing that, upon the
terms and subject to the conditions thereof, MergerSub will merge with and into
the Issuer (the "Merger"), with the Issuer continuing as the surviving
corporation.
In connection with the signing of the Merger Agreement, certain
existing shareholders of the Issuer entered into a letter agreement with
Investors pursuant to which such person agreed (a) to vote all shares of Common
Stock in favor of the Merger and against any other acquisition or any amendment
to the articles of incorporation or by-laws of the Issuer designed to frustrate
the Merger, (b) not to dispose of or encumber any of its shares of or options to
purchase the Common Stock before the Closing, or to take any action that would
restrict such person's ability to perform any and all actions contemplated by
the Merger Agreement and (c) to grant an irrevocable proxy coupled with an
interest to Investors, and to appoint Investors as such person's attorney-in-
fact, and that such grant would supersede all previous grants of proxy. As a
result of the execution of such letter agreements, Investors and each of the
other Reporting Persons may be deemed to have beneficial ownership over the
shares owned by such existing shareholders and therefore may be deemed to be 10%
owners.
Page 4 of 6
<PAGE>
Signatures of Reporting Persons: Name and Address of Reporting Person:
M-Foods Investors, LLC
c/o Vestar Capital Partners IV, L.P.
245 Park Avenue, 41st Floor
New York, New York 10167
Date of Event Requiring Statement:
12/21/2000
Issuer Name and Ticker or Trading Symbol:
Michael Foods, Inc.
NASDAQ--"MIKL"
VESTAR CAPITAL PARTNERS IV, L.P.
By: Vestar Associates IV, L.P.
Its: Sole General Partner
By: Vestar Associates Corporation IV
Its: General Partner
By: /s/ Jack M. Feder
____________________________
Name: Jack M. Feder
Its: Managing Director and
General Counsel
VESTAR ASSOCIATES IV, L.P.
By Vestar Associates Corporation IV
Its: General Partner
By: /s/ Jack M. Feder
____________________________
Name: Jack M. Feder
Its: Managing Director and
General Counsel
VESTAR ASSOCIATES CORPORATION IV
By: /s/ Jack M. Feder
____________________________
Name: Jack M. Feder
Its: Managing Director and
General Counsel
MARATHON FUND LIMITED PARTNERSHIP IV
By: Miltiades, LLC
Its: Sole General Partner
By: /s/ Michael S. Israel
____________________________
Name: Michael S. Israel
Its: Authorized Member
Page 5 of 6
<PAGE>
Name and Address of Reporting Person:
M-Foods Investors, LLC
c/o Vestar Capital Partners IV, L.P.
245 Park Avenue, 41st Floor
New York, New York 10167
Date of Event Requiring Statement:
12/21/2000
Issuer Name and Ticker or Trading Symbol:
Michael Foods, Inc.
NASDAQ--"MIKL"
MILTIADES, LLC
By: /s/ Michael S. Israel
____________________________
Name: Michael S. Israel
Its: Authorized Member
Page 6 of 6
