UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ESKIMO PIE CORPORATION
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(Name of issuer)
Common Stock, $1.00 Par Value
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296443 10 4
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(Cusip Number)
Peter H. Kamin
Peak Investment Limited Partnership
One Financial Center, Suite 1600
Boston, MA 02111
(617) 526-8979
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 9, 1999
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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(e), 13-d1(f) or 13-d-1(g), check the following
box [X].
*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).
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CUSIP No. 296443-10-4 SCHEDULE 13D Page 2 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
PEAK INVESTMENT LIMITED PARTNERSHIP
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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
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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
DELAWARE
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7. SOLE VOTING POWER
307,200
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 307,200
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10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
307,200
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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)
8.87%
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14. TYPE OF REPORTING PERSON
PN
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<PAGE>
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CUSIP No. 296443-10-4 SCHEDULE 13D Page 3 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
PEAK MANAGEMENT, INC.
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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
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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
MASSACHUSETTS
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7. SOLE VOTING POWER
62,400
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 307,200
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 62,400
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
307,200
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 369,600*
* AS GENERAL PARTNER OF PEAK INVESTMENT LIMITED PARTNERSHIP AND
INVESTMENT MANAGER OF CERTAIN MANAGED ACCOUNTS
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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)
10.67%
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14. TYPE OF REPORTING PERSON
CO
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<PAGE>
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CUSIP No. 296443-10-4 SCHEDULE 13D Page 4 of 9 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
PETER H. KAMIN
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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
NONE
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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
UNITED STATES
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 369,600
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
369,600
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 369,600*
* AS PRINCIPAL AND DIRECTOR OF PEAK MANAGEMENT, INC. AND NOT INDIVDUALLY
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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)
10.67%
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14. TYPE OF REPORTING PERSON
IN
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CUSIP No. 296443-10-4 Page 5 of 9 Pages
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THIS AMENDMENT NO. 1 TO SCHEDULE 13D AMENDS ITEM 4 AND ITEM 5(A) AND (B) OF THAT
CERTAIN SCHEDULE 13D FILED ON BEHALF OF THE REPORTING PERSONS NAMED HEREIN ON
DECEMBER 1, 1998.
ITEM 4. PURPOSE OF THE TRANSACTION
The information set forth below supplements, and to such extent
modifies, the information previously reported on in this Item 4. Except as so
supplemented, no change has occurred in the Reporting Persons' ownership or
intentions.
Prior to the Company's Annual Meeting of Shareholders held on September
8, 1999, the Reporting Persons engaged in extensive conversations about the
Company's future plans and strategy with representatives of the Company, Yogen
Fruz World Wide, Inc. ("Yogen Fruz") and potential acquirors of the Company.
Such discussions included solicitations by the Company and others for the
Reporting Persons' proxy in favor of the Company's nominees, as well as the
opposing slate of nominees. Generally in such discussions, the Reporting Persons
proposed to the Company that it immediately pursue negotiations with potential
acquirors, including a buyer which had previously offered an all cash price for
the purchase of the entire Company (the "Private Buyer").
Following such discussions, the Board of Directors of the Company agreed that:
(a) it would immediately pursue negotiations with the Private Buyer,
and any other potential purchaser of the Company;
(b) the Board would diligently pursue an accelerated and timely goal
for negotiating and agreeing to such a sale of the Company; and
(c) if such sale is not achieved prior to April 2000, then the
incumbent Board would step down, and only persons nominated by 5% or
greater shareholders would stand for election as Board members.
Upon this agreement, and adoption of Board resolutions implementing this
agreement, on September 8, 1999, the Reporting Persons voted its shares in favor
of re-election of the incumbent Board of Directors.
The Reporting Persons expect to continue to engage in substantive
discussions with the Issuer, the Private Buyer, Yogen Fruz and other third
parties regarding a sale of the Company as a means of maximizing shareholder
value. Such means may also include a sale or significant recapitalization of the
Issuer, a change of control or management, strategic alliances and joint
ventures or other transactions, and in each case such discussions may include
circumstances and transactions in which some or all of the Reporting Persons may
participate as financing sources, equity owners or otherwise.
The Reporting Persons will continue to explore alternatives and
modifications of their investment in the Issuer, including through discussions
with market analysts, other stockholders, industry sources and other interested
parties. Based upon such discussions, the Reporting Persons may take other
steps, change their intentions as stated above, acquire additional securities of
the Issuer, or dispose of securities of the Issuer in the open market or
pursuant to private transactions.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) The number of shares beneficially owned and the percentage
of outstanding shares represented thereby, for each of the Reporting Persons,
have been computed in accordance with Rule 13D-3 under the Securities Exchange
Act of 1934, as amended. The percentages of ownership described above are based
on an aggregate 3,462,850 shares of Common Stock reported outstanding by the
Issuer in its Form 10-Q filed on August 12, 1999.
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CUSIP No. 296443-10-4 Page 6 of 9 Pages
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Peak L.P.
By: Peak Management, Inc.
Its Sole General Partner
By: /s/ Peter Kamin
---------------------------------
Peter H. Kamin, President
Dated as of: September 28, 1999
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CUSIP No. 296443-10-4 Page 7 of 9 Pages
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
PEAK MANAGEMENT, INC.
By: /s/ Peter Kamin
---------------------------------
Peter H. Kamin
Dated as of: September 28, 1999
<PAGE>
CUSIP No. 296443-10-4 Page 8 of 9 Pages
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
By: /s/ Peter Kamin
---------------------------------
Peter H. Kamin, Individually
Dated as of: September 28, 1999
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CUSIP No. 296443-10-4 Page 9 of 9 Pages
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EXHIBIT A
AGREEMENT OF JOINT FILING
ESKIMO PIE CORPORATION
COMMON STOCK, PAR VALUE $1.00
In accordance with Rule 13D-1(f) under the Securities Exchange Act of
1934, as amended, the undersigned hereby confirm the agreement by and among them
to the joint filing on behalf of each of them of a Statement on Schedule 13D,
and any and all amendments thereto, with respect to the above referenced
securities and that this Agreement be included as an Exhibit to such filing.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which together shall be
deemed to constitute one and the same Agreement.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of
this 28th day of September, 1999.
PEAK L.P.
By: Peak Management, Inc.
------------------------------
Its Sole General Partner
By: /s/ Peter Kamin
------------------------------
Peter H. Kamin, President
PEAK MANAGEMENT, INC.
By: /s/ Peter Kamin
------------------------------
Peter H. Kamin, President
/s/ Peter Kamin
---------------------------------
Peter H. Kamin, Individually
