SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)1
SARATOGA BEVERAGE GROUP, INC.
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(Name of issuer)
COMMON STOCK
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(Title of class of securities)
803436 10 4
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(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
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(Name, address and telephone number of person
authorized to receive notices and communications)
March 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(b)(3) or (4), check the following box
o.
Note. six copies of this statement, including all 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 pages)
(Page 1 of 6 Pages)
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1 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 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>
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CUSIP No. 803436 10 4 13D Page 2 of 6 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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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 ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 506,258
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
506,258
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
506,258
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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)
9.9%
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14 TYPE OF REPORTING PERSON
PN
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CUSIP No. 803436 10 4 13D Page 3 of 6 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
WARREN LICHTENSTEIN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
00
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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 OR ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 591,758 (1)
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
591,758 (1)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
591,758 (1)
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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)
11.3%
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14 TYPE OF REPORTING PERSON
IN
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(1) Includes options to purchase 85,500 shares of common stock of the
Issuer exercisable within 60 days hereof.
<PAGE>
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CUSIP No. 803436 10 4 13D Page 4 of 6 Pages
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The following constitutes the Amendment No. 1 to Schedule 13D filed by
the undersigned (the "Amendment"). This Amendment No. 1 amends the Schedule 13D
as specifically set forth.
Item 2. Identity and Background.
Item 2(b) is hereby amended and restated in its entirety as
follows:
(b) The principal business address of each Reporting Person is
150 East 52nd Street, 21st Floor, New York, New York 10022.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and restated in its entirety as
follows:
The aggregate purchase price of the 506,258 shares of Common
Stock owned by Steel Partners II is $1,113,398. The shares of Common Stock owned
by Steel Partners II were acquired with partnership funds.
Item 5. Interest in Securities of the Issuer.
Items 5(a) and 5(c) are amended and restated in their entirety
as follows:
(a) The aggregate percentage of Common Stock reported to be
owned by the Reporting Persons is based upon 5,130,851 shares of Common Stock
outstanding at March 4, 1999 as supplied by the Issuer to the Reporting Persons.
As of the close of business on March 9, 1999, Steel Partners
II beneficially owns 506,258 shares of Common Stock, constituting approximately
9.9% of the shares outstanding. Mr. Lichtenstein beneficially owns 591,758
shares of Common Stock, representing approximately 11.3% of the shares
outstanding, which includes options to purchase 85,500 shares of Common Stock
exercisable within sixty (60) days of this Amendment No. 1. Mr. Lichtenstein has
sole voting and dispositive power with respect to the 506,258 shares of Common
Stock owned by Steel Partners II by virtue of his authority to vote and dispose
of such shares. All of such shares of Common Stock were acquired in open-market
transactions.
(c) Schedule A annexed hereto lists all transactions in the
Issuer's Common Stock in the last sixty days by the Reporting Persons.
<PAGE>
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CUSIP No. 803436 10 4 13D Page 5 of 6 Pages
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SIGNATURES
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After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: March 17, 1999 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
General Partner
By:/s/ Warren G. Lichtenstein
------------------------------------
Warren G. Lichtenstein
Chief Executive Officer
/s/ Warren G. Lichtenstein
---------------------------------------
WARREN G. LICHTENSTEIN
<PAGE>
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CUSIP No. 803436 10 4 13D Page 6 of 6 Pages
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SCHEDULE A
Transactions in the Shares Within the Past 60 Days
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Shares of Common Price Per Date of
Stock Purchased Share Purchase
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STEEL PARTNERS II, L.P.
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206,258 $2.125 3/9/99
WARREN LICHTENSTEIN
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None.
