SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Specialty Catalog Corp.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
84748Q-10-3
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(CUSIP Number)
Page 1 of 16 Pages
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SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 2 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN & CO., L.P. 13-3321472
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5) SOLE VOTING POWER
Not Applicable
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 853,153
BENEFICIALL -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 853,153
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
853,153 shares of Common Stock, $.01 par value
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
18.1%
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12) TYPE OF REPORTING PERSON
PN
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SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 3 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN INTERNATIONAL LIMITED 98-0153909
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
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5) SOLE VOTING POWER
Not Applicable
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 358,655
BENEFICIALLY ------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 358,655
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
358,655 shares of Common Stock, $.01 par value
- --------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
|-|
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.6%
12) TYPE OF REPORTING PERSON*
CO
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<PAGE>
SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 4 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN FOCUS FUND L.P. 13-3746015
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5) SOLE VOTING POWER
Not Applicable
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 135,881
BENEFICIALLY ------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING ------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 135,881
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
135,881 shares of Common Stock, $.01 par value
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10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
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11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.9%
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12) TYPE OF REPORTING PERSON
PN
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<PAGE>
SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 5 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS, L.P. 13-3544838
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5) SOLE VOTING POWER
Not Applicable
NUMBER ------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 989,034
BENEFICIALLY ------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING ------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 989,034
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9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
989,034 shares of Common Stock, $.01 par value
- --------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
21.0%
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12) TYPE OF REPORTING PERSON
PN
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<PAGE>
SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 6 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS INC. 13-3537972
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5) SOLE VOTING POWER
Not Applicable
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 1,347,689
BENEFICIALLY -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 1,347,689
- --------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,347,689 shares of Common Stock, $.01 par value
- --------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.7%
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12) TYPE OF REPORTING PERSON
CO
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<PAGE>
SCHEDULE 13G
CUSIP No. 84748Q-10-3 Page 7 of 16 Pages
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN ###-##-####
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |X| See Exhibit 2
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3) SEC USE ONLY
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4) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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5) SOLE VOTING POWER
Not Applicable
NUMBER -------------------------------------------------
OF 6) SHARED VOTING POWER
SHARES 1,347,689
BENEFICIALLY -------------------------------------------------
OWNED BY 7) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING -------------------------------------------------
PERSON 8) SHARED DISPOSITIVE POWER
WITH 1,347,689
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,347,689 shares of Common Stock, $.01 par value
- --------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.7%
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12) TYPE OF REPORTING PERSON
IN
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<PAGE>
ITEM 1(A). NAME OF ISSUER:
Specialty Catalog Corp.
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
21 Bristol Drive, South Easton, Massachusetts 02375
ITEM 2(A). NAME OF PERSON FILING: (See Exhibit 2)
Dickstein & Co., L.P. ("Dickstein & Co.")
Dickstein International Limited ("Dickstein International")
Dickstein Focus Fund L.P. ("Dickstein Focus")
Dickstein Partners, L.P. ("DPLP")
Dickstein Partners Inc. ("DPI")
Mark Dickstein ("Dickstein")
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
Dickstein & Co., Dickstein Focus, DPLP, DPI and Dickstein:
9 West 57th Street, Suite 4630, New York, NY 10019
Dickstein International: 129 Front Street, Hamilton HM 12, Bermuda
ITEM 2(C). CITIZENSHIP:
Dickstein & Co., Dickstein Focus, DPLP and DPI: Delaware
Dickstein International: British Virgin Islands
Dickstein: USA
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
Common Stock, $.01 par value
ITEM 2(E). CUSIP NUMBER:
84748Q-10-3
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
Not applicable
ITEM 4. OWNERSHIP. (See Exhibit 2)
Dickstein & Co.:
(a) Amount beneficially owned: 853,153 shares
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(b) percent of class: 18.1%*
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 853,153 shares
(iii) Sole power to dispose or to direct the disposition of Not applicable
(iv) Shared power to dispose or to direct the disposition of 853,153 shares
Dickstein International:
(a) Amount beneficially owned: 358,655 shares
(b) percent of class: 7.6%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 358,655 shares
(iii) Sole power to dispose or to direct the disposition of Not applicable
(iv) Shared power to dispose or to direct the disposition of 358,655 shares
Dickstein Focus:
(a) Amount beneficially owned: 135,881 shares
(b) percent of class: 2.9%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 135,881 shares
(iii) Sole power to dispose or to direct the disposition of Not applicable
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* Based upon 4,701,666 shares of Common Stock outstanding as of November 12,
1996, as reported by the Issuer in its Form 10-Q for the quarter ended
September 28, 1996.
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<PAGE>
(iv) Shared power to dispose or to direct the disposition of 135,881 shares
DPLP:
(a) Amount beneficially owned: 989,034 shares
(b) percent of class: 21.0%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 989,034 shares
(iii) Sole power to dispose or to direct the disposition of Not applicable
(iv) Shared power to dispose or to direct the disposition of 939,034 shares
DPI:
(a) Amount beneficially owned: 1,347,689 shares
(b) percent of class: 28.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 1,347,689 shares
(iii) Sole power to dispose or to direct the disposition of Not applicable
(iv) Shared power to dispose or to direct the disposition of 1,347,689
shares
Dickstein:
(a) Amount beneficially owned: 1,347,689 shares
(b) percent of class: 28.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote Not applicable
(ii) Shared power to vote or to direct the vote 1,347,689 shares
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<PAGE>
(iii) Sole power to dispose or to direct the disposition of Not applicable
(iv) Shared power to dispose or to direct the disposition of 1,347,689
shares
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See Exhibit 1, Agreement of joint filing pursuant to Rule 13d(1)-f
promulgated under the Securities Exchange Act of 1934. See also
Exhibit 2.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable
ITEM 10. CERTIFICATION.
Not applicable
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SIGNATURE
After reasonable inquiry and to the best knowledge and belief of
the undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Date: February 11, 1997
DICKSTEIN & CO., L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P., the general partner of Dickstein & Co., L.P.
/s/ Alan S. Cooper
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Name: Alan S. Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the agent of Dickstein International
Limited
/s/ Alan S. Cooper
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Name: Alan S. Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P., the general partner of Dickstein Focus Fund L.P.
/s/ Alan S. Cooper
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Name: Alan S. Cooper
DICKSTEIN PARTNERS, L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P.
/s/ Alan S. Cooper
-------------------------------------------
Name: Alan S. Cooper
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<PAGE>
DICKSTEIN PARTNERS INC.
By: Alan S. Cooper, as Vice President
/s/ Alan S. Cooper
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Name: Alan S. Cooper
MARK DICKSTEIN
By: Alan S. Cooper, as attorney-in-fact
/s/ Alan S. Cooper
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Name: Alan S. Cooper
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<PAGE>
EXHIBIT 1
AGREEMENT OF JOINT FILING
Pursuant to Rule 13d-1(f) promulgated under the Securities
Exchange Act of 1934, the undersigned persons hereby agree to file with the
Securities and Exchange Commission the Statement on Schedule 13G (the
"Statement") to which this Agreement is attached as an exhibit, and agree that
such Statement, as so filed, is filed on behalf of each of them.
IN WITNESS WHEREOF, the undersigned have executed this
agreement as of February 11, 1997.
DICKSTEIN & CO., L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P., the general partner of Dickstein & Co., L.P.
/s/ Alan S. Cooper
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Name: Alan S. Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the agent of Dickstein International
Limited
/s/ Alan S. Cooper
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Name: Alan S. Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P., the general partner of Dickstein Focus Fund L.P.
/s/ Alan S. Cooper
-------------------------------------------
Name: Alan S. Cooper
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<PAGE>
DICKSTEIN PARTNERS, L.P.
By: Alan S. Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein Partners,
L.P.
/s/ Alan S. Cooper
-------------------------------------------
Name: Alan S. Cooper
DICKSTEIN PARTNERS INC.
By: Alan S. Cooper, as Vice President
/s/ Alan S. Cooper
-------------------------------------------
Name: Alan S. Cooper
MARK DICKSTEIN
By: Alan S. Cooper, as attorney-in-fact
/s/ Alan S. Cooper
-------------------------------------------
Name: Alan S. Cooper
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<PAGE>
EXHIBIT 2
Dickstein is the President and sole shareholder and director of
DPI. DPI is the general partner of DPLP and advisor to Dickstein International.
DPLP is the general partner of Dickstein & Co. and Dickstein Focus.
Consequently, the Reporting Persons may be deemed to be members of a group. By
reason of its position as general partner of Dickstein & Co. and Dickstein
Focus, DPLP may be deemed to possess the power to vote and dispose of the shares
of Common Stock beneficially owned by Dickstein & Co. and Dickstein Focus. By
reason of its position as general partner of DPLP and advisor to Dickstein
International, DPI may be deemed to possess the power to vote and dispose of the
shares of Common Stock beneficially owned by Dickstein & Co., Dickstein Focus
and Dickstein International. By reason of his position as president and sole
director of Dickstein Inc., Dickstein may be deemed to possess the power to vote
and dispose of the shares of Common Stock beneficially owned by Dickstein & Co.,
Dickstein Focus and Dickstein International. Pursuant to Rule 13d-4 promulgated
under the Securities Exchange Act of 1934, as amended, (i) Dickstein & Co.
disclaims beneficial ownership of all shares of Common Stock beneficially owned
by Dickstein International and Dickstein Focus, (ii) Dickstein Focus disclaims
beneficial ownership of all shares of Common Stock beneficially owned by
Dickstein & Co. and Dickstein International, (iii) Dickstein International
disclaims beneficial ownership of all shares of Common Stock beneficially owned
by Dickstein & Co. and Dickstein Focus, and (iv) each of DPLP, DPI and Dickstein
disclaims beneficial ownership of the shares of Common Stock beneficially owned
by Dickstein & Co., Dickstein Focus and Dickstein International, except to the
extent of their actual economic interests.
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