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OMB APPROVAL
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OMB Number: 3235-0104
Expires: September 30, 1998
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
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
AMERISERVE FOOD DISTRIBUTION, INC.
(SEE ATTACHED PAGES FOR ADDITIONAL REPORTING PERSONS)
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(Last) (First) (Middle)
14841 DALLAS PARKWAY
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(Street)
DALLAS TX 75240
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
JANUARY 29, 1998
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
PROSOURCE, INC. (NASDAQ: PSDS)
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing:
[ ] Form Filed by One Reporting Person
[ X ] Form Filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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<TABLE>
<CAPTION>
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 6
<PAGE>
FORM 3 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS,
CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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OPTION (SEE ATTACHED) (SEE (SEE CLASS A COMMON STOCK 496,583 $15.00 (SEE (SEE
(CONTINGENT RIGHT TO ATTACHED) ATTACHED) ATTACHED) ATTACHED)
BUY)
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OPTION (SEE ATTACHED) (SEE (SEE CLASS B COMMON STOCK 5,218,072 $15.00 (SEE (SEE
(CONTINGENT RIGHT TO ATTACHED) ATTACHED) ATTACHED) ATTACHED)
BUY)
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</TABLE>
Explanation of Responses:
See attached.
(See attached) (See attached)
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**Signature of Reporting Person Date
** 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.
Page 2 of 6
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FORM 3 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: JANUARY 29, 1998
ITEM 4: PROSOURCE, INC. (NASDAQ: PSDS)
EXPLANATION OF RESPONSES
This Initial Statement of Beneficial Ownership on Form 3 (this "Form") is
filed by Steamboat Acquisition Corp., a Delaware corporation ("Merger Sub"),
AmeriServe Food Distribution, Inc., a Delaware corporation ("AmeriServe"), Nebco
Evans Holding Company, a Delaware corporation ("NEHC"), Nebco Evans
Distributors, Inc. a Delaware corporation ("NED"), Holberg Industries, Inc., a
Delaware corporation ("Holberg Industries"), Holberg Incorporated, a Delaware
corporation ("Holberg"), and John V. Holten ("Holten"). Together Merger Sub,
AmeriServe, NEHC, NED, Holberg Industries, Holberg and Mr. Holten are the
"Reporting Persons". All of the outstanding common stock of Merger Sub is owned
by AmeriServe, all of the outstanding common stock of AmeriServe is owned by
NEHC and all of the outstanding common stock of NEHC is owned by NED. As of the
date hereof, Holberg Industries owns approximately 93% of the outstanding common
stock of NED and has an additional interest in the common stock of NED of
approximately 75% through preferred stock convertible into common stock; Mr.
Holten owns all of the outstanding common stock of Holberg, the corporate parent
of Holberg Industries, which entity owns approximately 70% of the outstanding
common stock of Holberg Industries and an additional interest in the common
stock of Holberg Industries of approximately 25% through certain preferred
stock convertible into common stock. The convertible interests described in this
Form 3 have been computed based upon the outstanding common shares of each of
the corporate Reporting Persons without taking into account any options or
convertible interests therein.
In connection with an Agreement and Plan of Merger (the "Merger
Agreement"), dated as of January 29, 1998, by and among AmeriServe, Merger Sub
and ProSource, Inc., a Delaware corporation (the "Company"), Merger Sub and
AmeriServe have entered into a Voting Agreement (the "Voting Agreement"), dated
as of January 29, 1998, with Onex DHC LLC, a Wyoming limited liability company,
and certain of its affiliates (collectively, the "Onex Stockholders"). As of the
date of the Voting Agreement, the Onex Stockholders were the beneficial owners
of 496,583 shares of the Company's Class A Common Stock, par value $0.01 per
share ("Class A Common Stock") (representing approximately 14.4% of the Class A
Common Stock) and 5,218,072 shares of the Company's Class B Common Stock, par
value $0.01 per share ("Class B Common Stock" and together with the Class A
Common Stock, the "Common Stock")(representing approximately 88.4% of the
Class B Common Stock outstanding). The Common Stock owned by the Stockholders
are referred to as the "Subject Shares".
Pursuant to the Voting Agreement, the Onex Stockholders have, among other
things, granted AmeriServe and Merger Sub and irrevocable option (the "Option")
to acquire the Subject Shares, in whole and not in part, at a price of $15.00
per share in cash (the "Exercise Price"), subject to certain conditions set
forth in the Voting Agreement, exercisable during the 30-day period following a
termination of the Merger Agreement, other than pursuant to a termination upon
mutual consent of the parties thereto, or pursuant to a termination of the
Merger Agreement by the Company based on an actual material breach by Merger Sub
or AmeriServe of their respective obligations thereunder. The covenants and
agreements contained in the Voting Agreement with respect to the Subject Shares
will terminate upon the earliest of (x) the effective time of the merger
pursuant to the Merger Agreement, (y) the termination fo the Merger Agreement
based upon mutual consent of the parties thereto, or the termination of the
Merger Agreement by the Company based on an actual material breach by Merger Sub
of AmeriServe of their respective obligations thereunder, or (z) the 30th day
following another termination of the Merger Agreement pursuant to its terms
(after which termination the Option becomes exercisable), subject to certain
extensions if the Option has been exercised by the closing if such exercise has
not occurred.
Prior to the Option becoming exercisable and being exercised, the Reporting
Persons expressly disclaim beneficial ownership of shares of Class A Common
Stock and Class B Common Stock which are purchasable by Merger Sub upon the
Option becoming exercisable and being exercised. Neither the filing of this Form
3 nor any of its contents shall be deemed to constitute an admission that any
Reporting Person is the beneficial owner of the shares of Class A Common Stock
and Class B Common Stock subject to the Option for purposes of Section 13(d) or
16 of the Securities Exchange Act of 1934, as amended, or for any other purpose,
and such beneficial ownership is expressly disclaimed.
Page 3 of 6
<PAGE>
FORM 3 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: JANUARY 29, 1998
ITEM 4: PROSOURCE, INC. (NASDAQ: PSDS)
INSTRUCTION 5(b)(v)
LIST OF OTHER REPORTING PERSONS
WITH PRINCIPAL BUSINESS ADDRESSES
Steamboat Acquisition Corp.
Nebco Evans Holding Company
Nebco Evans Distributors, Inc.
Holberg Industries, Inc.
Holberg Incorporated
John V. Holten
545 Steamboat Road
Greenwich, CT 06830
Page 4 of 6
<PAGE>
FORM 3 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: JANUARY 29, 1998
ITEM 4: PROSOURCE, INC. (NASDAQ: PSDS)
SIGNATURES OF REPORTING PERSONS
Dated as of: February 9, 1998
STEAMBOAT ACQUISITION CORP.
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman of the Board and President
AMERISERVE FOOD DISTRIBUTION, INC.
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman and Chief Executive Officer
NEBCO EVANS HOLDING COMPANY
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman and Chief Executive Officer
NEBCO EVANS DISTRIBUTORS, INC.
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman and Chief Executive Officer
HOLBERG INDUSTRIES, INC.
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman and Chief Executive Officer
Page 5 of 6
<PAGE>
FORM 3 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: JANUARY 29, 1998
ITEM 4: PROSOURCE, INC. (NASDAQ: PSDS)
HOLBERG, INCORPORATED
By:/s/ John V. Holten
Name: John V. Holten
Title: Chairman and Chief Executive Officer
/s/ John V. Holten
JOHN V. HOLTEN
Page 6 of 6
