<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO.2)
*
JENNY CRAIG, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.000000005 PER SHARE
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(Title of Class of Securities)
22406 10 2
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(CUSIP Number)
SIDNEY CRAIG
11355 N. TORREY PINES RD.
LA JOLLA, CALIFORNIA 92037
(858) 812-7000
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
JUNE 2, 2000
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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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ]
* 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 the
disclosures provided in a prior cover page.
The information required in 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).
<PAGE> 2
SCHEDULE 13D
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CUSIP NO. 22406 10 2 PAGE 2 OF 11 PAGES
------------------------ -------------------------
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1 NAME OF REPORTING PERSONS
Sidney Craig
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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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*
OO
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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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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 14,212,500
REPORTING ------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER
14,212,500
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,212,500
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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)
68.7%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
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CUSIP NO. 22406 10 2 PAGE 3 OF 11 PAGES
------------------------ -------------------------
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1 NAME OF REPORTING PERSONS
Jenny Craig
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 14,212,500
REPORTING ------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER
14,212,500
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,212,500
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
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CUSIP NO. 22406 10 2 PAGE 4 OF 11 PAGES
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1 NAME OF REPORTING PERSONS
Craig Enterprises, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
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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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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 13,838,600
REPORTING ------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,838,600
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,838,600
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
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CUSIP NO. 22406 10 2 PAGE 5 OF 11 PAGES
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1 NAME OF REPORTING PERSONS
SJF Enterprises, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
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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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 13,838,600
REPORTING ------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,838,600
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,838,600
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6
SCHEDULE 13D
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CUSIP NO. 22406 10 2 PAGE 6 OF 11 PAGES
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1 NAME OF REPORTING PERSONS
DA Holdings, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
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
California
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,950,000
REPORTING ------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,950,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,950,000
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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)
9.4%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 7
The statement on Schedule 13D filed on February 22, 1996 (the "Initial
Filing"), relating to the Common Stock, $.000000005 par value per share, CUSIP
Number 22406102 ("Issuer Common Stock"), of Jenny Craig, Inc., a Delaware
corporation ("Issuer"), and filed by Sidney Craig, Jenny Craig, Craig
Enterprises, Inc., a Delaware corporation, SJF Enterprises, Inc., a Delaware
corporation, and DA Holdings, Inc., a California corporation, as amended by
Amendment No. 1 to the Initial Filing filed on March 21, 1996, is amended and
restated as follows:
ITEM 1. SECURITY AND ISSUER
This Amendment No. 2 to Schedule 13D relates to the Common Stock of
Issuer, having its principal executive offices at 11355 N. Torrey Pines Rd., La
Jolla, California 92037.
ITEM 2. IDENTITY AND BACKGROUND
This Amendment No. 2 to Schedule 13D is filed on behalf of Sidney
Craig ("Mr. Craig"), Jenny Craig ("Mrs. Craig"), Craig Enterprises, Inc., a
Delaware corporation ("CEI"), SJF Enterprises, Inc., a Delaware corporation
("SJF"), and DA Holdings, Inc., a California corporation ("DAHI") (Mr. Craig,
Mrs. Craig, CEI, SJF and DAHI are collectively referred to hereinafter as the
"Filing Persons"). SJF owns directly 11,888,600 shares of Issuer Common Stock
constituting 57.5% of the outstanding Issuer Common Stock. DAHI owns directly
1,950,000 shares of Issuer Common Stock constituting 9.4% of the outstanding
Issuer Common Stock. The Sidney and Jenny Craig Foundation owns directly 373,900
shares of Issuer Common Stock constituting 1.8% of the outstanding Issuer Common
Stock. Mr. Craig and Mrs. Craig, who are husband and wife, own in the aggregate
100% of the outstanding Common Stock of CEI through the Sidney and Genevieve
Craig Revocable Trust UTA dated May 29, 1981, of which they are the trustors,
trustees and sole beneficiaries. CEI owns 100% of the outstanding Common Stock
of SJF. SJF owns 100% of the outstanding Common Stock of DAHI. Mr. Craig is
President and director, and Mrs. Craig is Vice President, Chief Financial
Officer and director, of The Sidney and Jenny Craig Foundation. For information
with respect to the amount of shares of Issuer Common Stock beneficially owned
by each of the Filing Persons, and percent of class and sole or shared voting
power with respect to such shares, see the respective cover sheets included in
this Amendment No. 2 to Schedule 13D with respect to each Filing Person.
Mr. Craig has his business address at 11355 N. Torrey Pines Rd.,
La Jolla, California 92037. The principal occupation of Mr. Craig is to serve as
the Chairman of the Board and Chief Executive Officer of Issuer.
Mrs. Craig has her business address at 11355 N. Torrey Pines Rd.,
La Jolla, California 92037. The principal occupation of Mrs. Craig is to serve
as the Vice-Chairman of the Board of Issuer.
CEI has its principal business address at 11355 N. Torrey Pines
Rd., La Jolla, California 92037. CEI's principal business is investing in
securities and business enterprises.
Page 7 of 11 Pages
<PAGE> 8
SJF has its principal business address at 11355 N. Torrey Pines
Rd., La Jolla, California 92037. SJF's principal business is to hold shares of
Issuer Common Stock.
DAHI has its principal business address at 11355 N. Torrey Pines
Rd., La Jolla, California 92037. DAHI was incorporated on February 8, 1996 and
has engaged in no activities other than issuance of shares of Common Stock of
DAHI to SJF in exchange for shares of Issuer Common Stock.
During the last five years, none of the Filing Persons have been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceedings 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.
Mr. Craig and Mrs. Craig are each a citizen of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
ITEM 4. PURPOSE OF TRANSACTION
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
On June 2, 2000, CEI delivered to Issuer a letter dated June 2,
2000 addressed to the Board of Directors of Issuer (the "Bid Letter") in which
CEI proposed to acquire, through SJF, all of the outstanding shares of Issuer
Common Stock not already owned directly or indirectly by SJF for a cash price of
$3.75 per share (the "Cash Price"). CEI proposed that the transaction be
completed through a tender offer followed by a merger of SJF into Issuer, each
at the Cash Price (the "Transaction"). As a result of the Transaction, Issuer
would become a wholly-owned subsidiary of CEI, the parent company of SJF.
CEI proposed conditioning the Transaction upon (i) the approval
by the Board of Directors of Issuer, (ii) negotiation and execution of
definitive acquisition documents, and (iii) satisfaction of all applicable
regulatory and governmental requirements, and certain other conditions
customarily contained in transactions of this type.
Financing for the Transaction would be provided by loans to SJF
from CEI or others, but CEI stated that the Transaction is not conditioned on
financing.
CEI expects that the Transaction would occur prior to September
30, 2000. Upon completion of the Transaction, Issuer would seek to cause its
shares of common stock to be delisted from trading on the New York Stock
Exchange and to be deregistered under the Securities Exchange Act of 1934, as
amended.
After the Transaction, if it occurs, CEI believes that Issuer
would realize savings of time, expense and personnel resources resulting from
the elimination of proxy statements,
Page 8 of 11 Pages
<PAGE> 9
annual and quarterly reports and compliance with United States securities laws
for public companies. In addition, after the Transaction, if it occurs, CEI
expects that it will be able to make an S election under the Internal Revenue
Code of 1986, as amended, and "Qualified Subchapter S Subsidiary" elections for
Issuer and certain affiliates, which could offer CEI and its subsidiaries more
favorable tax treatment than that presently enjoyed.
It is expected that a special committee of independent directors
of the Issuer will be appointed to consider the proposal and that this committee
will engage independent financial advisors and legal counsel to assist it in its
deliberations.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The responses of the Filing Persons to Items (11) and (13) of
the cover pages of this Amendment No. 2 to Schedule 13D which relate to the
aggregate number of shares and percentage of Issuer Common Stock beneficially
owned are incorporated herein by reference.
(b) The responses of the Filing Persons to Items (7) through (10)
of the cover pages of this Amendment No. 2 to Schedule 13D which relate to the
shares of Issuer Common Stock beneficially owned are incorporated herein by
reference.
(c) Not applicable.
(d) Not applicable.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1. Joint Reporting Agreement dated as of June 5, 2000
among the Filing Persons with respect to filing of this Amendment No. 2 to
Schedule 13D (filed as an exhibit hereto).
Exhibit 2. Bid Letter dated June 2, 2000 from CEI to the Board of
Directors of Issuer.
Page 9 of 11 Pages
<PAGE> 10
SIGNATURE
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.
June 5, 2000 /s/ Sidney Craig
-------------------------------- --------------------------------------
Date SIDNEY CRAIG
/s/ Jenny Craig
--------------------------------------
JENNY CRAIG
CRAIG ENTERPRISES, INC.
By: /s/ Sidney Craig
--------------------------------------
Sidney Craig, Chairman
SJF ENTERPRISES, INC.
By: /s/ Sidney Craig
--------------------------------------
Sidney Craig, Chairman
DA HOLDINGS, INC.
By: /s/ Sidney Craig
--------------------------------------
Sidney Craig, Chairman
Page 10 of 11 Pages
