<PAGE>
----------------------------
OMB APPROVAL
----------------------------
OMB NUMBER: 3235-0145
Expires: August 31, 1999
Estimated average
burden hours per
response............14.90
----------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
THE PANTRY, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
698657 10 3
- --------------------------------------------------------------------------------
(CUSIP Number)
FS Equity Partners III, L.P.
FS Equity Partners International, L.P.
FS Equity Partners IV, L.P.
11100 Santa Monica Blvd.
Suite 1900
Los Angeles, California 90025
Attn: William M. Wardlaw
(310) 444-1822
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 16, 2000
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is
filing this schedule because of (S)(S) 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g),
following box. [_]
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See (S) 240.13d-7 for
other parties to whom copies are to be sent.
*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).
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 control number.
SEC 1746 (10-97)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Equity Partners III, L.P.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[_]
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
9,468,792
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 46.3%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Capital Partners, L.P.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[_]
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
California
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
9,468,792
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 46.3%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Holdings, Inc.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[_]
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
California
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
9,468,762
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
9,468,792
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 46.3%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
CO
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Equity Partners International, L.P.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
381,072
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
381,072
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
381,072
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 1.9%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS & Co. International, L.P.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Cayman Islands
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
381,072
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
381,072
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
381,072
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 1.9%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS International Holdings Limited
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Cayman Islands
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
381,072
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
381,072
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
381,072
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 1.9%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
CO
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Equity Partners IV, L.P.
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
[_]
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
2,825,690
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
2,825,690
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,825,690
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 13.8%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
<TABLE>
<S> <C>
CUSIP No. 698657 10 3
- --------------
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above
persons (entities only).
FS Capital Partners LLC
- ---------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [x]
(b) [_]
- ---------------------------------------------------------------------------------------------------------
3. SEC Use Only
- ---------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
- ---------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- ---------------------------------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares
Beneficially 0
Owned by
Each
Reporting
Person With
- ---------------------------------------------------------------------------------------------------------
8. Shared Voting Power
2,825,690
- ---------------------------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
- ---------------------------------------------------------------------------------------------------------
10. Shared Dispositive Power
2,825,690
- ---------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,825,690
- ---------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
[_]
- ---------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
Approximately 13.8%
- ---------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
OO
- ---------------------------------------------------------------------------------------------------------
</TABLE>
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
<PAGE>
Item 1. Security and Issuer
-------------------
This statement on Schedule 13D (this "Statement") initially filed on
December 17, 1999 (the "Initial Filing") relating to the Common Stock, $0.01 par
value per share, CUSIP Number 698657 10 3 (the "Issuer Common Stock"), of The
Pantry, Inc., a Delaware corporation ("Issuer"), is hereby amended by this
Amendment No. 1 to Schedule 13D to report a change in beneficial ownership. The
Statement is amended as follows:
Item 2. Identity and Background
-----------------------
No material change has occurred in the facts set forth in response to
this item of the Initial Filing.
Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
Item 3 is hereby supplemented by the addition of the following:
As of April 7, 2000, FSEP IV owned 2,825,690 shares of Issuer Common
Stock. Since December 17, 1999, FSEP IV has made the following purchases of
Issuer Common Stock on the open market:
<TABLE>
<CAPTION>
Date of Purchase Number of Shares Purchase Price
---------------- ---------------- --------------
<S> <C> <C>
12/21/99 60,000 10 5/8
3/16/00 500,000 7 1/8
</TABLE>
The purchase price for the foregoing open market transactions was obtained
through equity capital calls from the limited partners of FSEP IV.
Item 4. Purpose of Transaction
----------------------
No material change has occurred in the facts set forth in response to
this item of the Initial Filing.
Item 5. Interest in the Securities of Issuer
------------------------------------
Items 5(a)-(b) are hereby amended in their entirety as follows:
(a)-(b) The percentages of outstanding Common Stock reported in this
Item 5(a) are based on the assumption that there are 20,457,474 shares of Issuer
Common Stock outstanding, which is based upon 18,111,474 shares of Issuer Common
Stock outstanding as reported by the Issuer in its Quarterly Report on Form 10-Q
for the period ended December 30, 1999 as filed
<PAGE>
with the Securities and Exchange Commission on February 14, 2000 and 2,346,000
shares of Issuer Common Stock issuable upon the exercise of warrants.
As of April 7, 2000, each of the Filing Persons may be deemed to be the
beneficial owner of 90,729 shares of Issuer Common Stock that are issuable on
the exercise of warrants held by FSEP International, 2,255,271 shares of Issuer
Common Stock that are issuable on the exercise of warrants held by FSEP III,
7,213,491 shares of Issuer Common Stock held by FSEP III, 290,343 shares of
Issuer Common Stock held by FSEP International and 2,825,690 shares of Issuer
Common Stock held by FSEP IV, which in the aggregate represents approximately
61.9% of the outstanding Issuer Common Stock. FSEP III, Capital Partners and
Holdings disclaim beneficial ownership of the shares of Issuer Common Stock held
by FSEP International and FSEP IV. FSEP International, FS&Co. International and
International Holdings disclaim beneficial ownership of the shares of Issuer
Common Stock held by FSEP III and FSEP IV. FSEP IV and Capital Partners LLC
disclaim beneficial ownership of the shares of Issuer Common Stock held by FSEP
International and FSEP III.
The responses of the Filing Persons to Items (7) through (11) of the
portions of the cover pages of this Schedule 13D which relate to the shares of
Common Stock beneficially owned are herein incorporated by reference.
Item 5(c) is hereby supplemented by the addition of the following:
(c) As described in Item 2, since December 17, 1999, FSEP IV has
purchased the following shares of Issuer Common Stock on the open market:
<TABLE>
<CAPTION>
Date of Purchase Number of Shares Purchase Price
---------------- ---------------- --------------
<S> <C> <C>
12/21/99 60,000 10 5/8
3/16/00 500,000 7 1/8
</TABLE>
Item 6. Contracts, Arrangements, Understandings or
------------------------------------------
Relationships with Respect to Securities of Issuer
--------------------------------------------------
No material change has occurred in the facts set forth in response to
this item of the Initial Filing.
Item 7. Material to be Filed as Exhibits
--------------------------------
None.
<PAGE>
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.
Dated: April 7, 2000 FS EQUITY PARTNERS III, L.P.,
a Delaware limited partnership
By: FS Capital Partners, L.P.
Its: General Partner
By: FS Holdings, Inc.
Its: General Partner
By: /s/ William M. Wardlaw
-----------------------
William M. Wardlaw
Title: Vice President
FS CAPITAL PARTNERS, L.P.,
a California limited partnership
By: FS Holdings, Inc.
Its: General Partner
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
FS HOLDINGS, INC.,
a California corporation
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
<PAGE>
FS EQUITY PARTNERS INTERNATIONAL,
L.P., a Delaware limited partnership
By: FS&CO. International, L.P.
Its: General Partner
By: FS&Co. International Holdings Limited
Its: General Partner
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
FS&CO. INTERNATIONAL, L.P.,
a Cayman Islands limited partnership
By: FS International Holdings Limited
Its: General Partner
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
FS INTERNATIONAL HOLDINGS LIMITED,
a Cayman Islands exempt corporation
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
FS EQUITY PARTNERS IV, L.P.,
a Delaware limited partnership
By: FS Capital Partners LLC
Its: General Partner
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
<PAGE>
FS CAPITAL PARTNERS LLC,
a Delaware limited liability company
By: /s/ William M. Wardlaw
------------------------
William M. Wardlaw
Title: Vice President
