SC 13D/A 1 0001.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 AMENDMENT NO. 4 MARKETING SPECIALISTS CORPORATION f/k/a MERKERT AMERICAN CORPORATION ---------------------------------------------------------- (Name of Issuer) Common Stock, Par Value $.01 Per Share ----------------------------------------------------------- (Title of Class and Securities) 590080107 ----------------------------------------------------------- (CUSIP Number of Class of Securities) Nick G. Bouras MS Acquisition Ltd. 17855 North Dallas Parkway Suite 200 Dallas, Texas 75287 (972)860-7520 Copy to: Eileen T. Nugent, Esq. Skadden, Arps, Slate, Meagher & Flom LLP Four Times Square New York, New York 10036 (212) 735-3000 ------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 7, 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 which is the subject of this Statement because of Rule 13d-1(b)(3) or (4), check the following: ( ) Check the following box if a fee is being paid with this Statement: ( ) SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS MS Acquisition Ltd. ----------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) ( ) (b) (X) ----------------------------------------------------------------- (3) SEC USE ONLY ----------------------------------------------------------------- (4) SOURCE OF FUNDS WC ----------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ( ) ------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ----------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ----------------------------------- PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON PN ----------------------------------------------------------------- SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS MSSC Acquisition Corporation ----------------------------------------------------------------- (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) ( ) ------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ___________________________________ BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ___________________________________ PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO ----------------------------------------------------------------- SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Richmont Capital Partners I, L.P. ----------------------------------------------------------------- (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) ( ) ------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ___________________________________ BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ___________________________________ PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON PN ----------------------------------------------------------------- SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS J.R. Investments Corp. ----------------------------------------------------------------- (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) ( ) ------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ----------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ----------------------------------- PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON CO ----------------------------------------------------------------- SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS John P. Rochon ----------------------------------------------------------------- (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) ( ) ------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ----------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ----------------------------------- PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Nick G. Bouras ----------------------------------------------------------------- (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) ( ) ----------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ----------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ----------------------------------- PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN ---------------------------------------------------------------- SCHEDULE 13D CUSIP No. 590080107 ----------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Timothy M. Byrd ----------------------------------------------------------------- (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) ( ) ----------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS ----------------------------------------------------------------- (7) SOLE VOTING POWER 9,600,617 NUMBER OF SHARES ----------------------------------- BENEFICIALLY (8) SHARED VOTING POWER OWNED BY EACH 3,485,972 REPORTING ----------------------------------- PERSON WITH (9) SOLE DISPOSITIVE POWER 9,600,617 ----------------------------------- (10) SHARED DISPOSITIVE POWER None ----------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,086,589 ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES ( ) ----------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 67.3% ----------------------------------------------------------------- (14) TYPE OF REPORTING PERSON IN This Amendment No. 4 to Schedule 13D (this "Amendment") is being filed pursuant to Rule 13d-2 of the Rules and Regulations under the Securities Exchange Act of 1934, as amended (the "Act") by MS Acquisition Ltd., a Texas limited partnership ("MS Acquisition"), MSSC Acquisition Corporation, a Delaware corporation ("MSSC"), Richmont Capital Partners I, L.P., a Delaware limited partnership ("RCPI"), J.R. Investments Corp., a Delaware corporation ("JRIC"), John P. Rochon, a citizen of the State of Texas ("Rochon"), Nick G. Bouras, a citizen of the State of Texas ("Bouras"), and Timothy M. Byrd, a citizen of the State of Texas ("Byrd"), with respect to the common stock, par value $.01 per share (the "Common Stock"), of Marketing Specialists Corporation, formerly known as Merkert American Corporation, a Delaware corporation (the "Company"). This Amendment amends the Schedule 13D filed by MS Acquisition, MSSC, RCPI, JRIC and Richmont Marketing Specialists Inc. on May 7, 1999, as amended and restated by Amendment No. 1 thereto filed on August 18, 1999, as further amended by Amendment No. 2 thereto filed on January 7, 2000, and as further amended by Amendment No. 3 thereto filed on April 3, 2000. The Schedule 13D previously filed is hereby amended by the addition of the following information: Item 3. Source and Amount of Funds or Other Consideration Proposed Acquisition of Beneficial Ownership Pursuant to the terms of a letter sent to the Company's board of directors, RCPI and certain investors have proposed to acquire the remaining outstanding shares of common stock of the Company at a price of $2.50 per share. A copy of the letter is attached hereto as Exhibit 11. It is expected that the funds to be used by RCPI or such other investors in the proposed acquisition of the remaining shares of the Company will be drawn from the working capital of such entities and from funds held by them for investment. Item 4. Purpose of Transactions Proposed Acquisition of Beneficial Ownership Pursuant to the terms of a letter sent to the Company's board of directors, RCPI and certain investors have proposed to acquire the remaining outstanding shares of common stock of the Company at a price of $2.50 per share. The Item 2 Persons may buy or sell additional shares of Common Stock in the open market or otherwise on such terms and at such times as the Item 2 Persons consider desirable. Any decision by the Item 2 Persons to increase, decrease or dispose of their position in the Company would be based upon factors, including but not limited to, the business of the Company, the price of the shares of Common Stock, the terms and conditions of the transaction and prevailing market conditions. Item 7. Material Filed as Exhibits. -------------------------- Exhibit I - - Joint Filing Agreement among RMSI, MS Acquisition, MSSC, RCPI and JRIC. Exhibit II - - Voting Agreement, dated as of April 28, 1999, between RMSI, Monroe & Company II, LLC, Joseph T. Casey, Glenn F. Gillam, Douglas H. Holstein, Gerald R. Leonard, Sidney D. Rogers, Jr. and Thomas R. Studer. Exhibit III - - Agreement and Plan of Merger, dated as of April 28, 1999, by and among the Company, RMSI, MS Acquisition, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey and Jeffrey A. Watt. Exhibit IV - - Form of Certificate of Merger and Exhibit A to Certificate of Merger. Exhibit V - - Post-Merger Voting Agreement, by and among MS Acquisition, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey, Jeffrey A. Watt, Monroe & Company, LLC and JLM Management Company, LLC. Exhibit VI - - Registration Rights Agreement, dated as of August 18, 1999, by and among Merkert American Corporation, MS Acquisition Limited, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey and Jeffrey A. Watt. Exhibit VII - - Joint Filing Agreement among MS Acquisition, MSSC, RCPI, JRIC, Rochon, Bouras and Byrd. Exhibit VIII - - Common Stock Purchase Agreement, dated as of January 7, 2000, by and between Marketing Specialists Corporation and MS Acquisition Limited. Exhibit IX - - Common Stock Purchase Agreement, dated as of March 30, 2000, by and between Marketing Specialists Corporation and MS Acquisition Limited. Exhibit X - - Stockholders Agreement, dated as of March 30, 2000, by and among Marketing Specialists Corporation, First Union Investors, Inc. and MS Acquisition Limited. Exhibit XI - - Letter, dated as of June 7, 2000, from Richmont Capital Partners I, L.P. to the board of directors of Marketing Specialists Corporation.* * Filed with this Amendment. SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: June 8, 2000 MS ACQUISITION LTD. By: MSSC Acquisition Corporation, General Partner By: /s/ Nick G. Bouras Name: Nick G. Bouras Title: Vice President EXHIBIT INDEX Exhibit I - Joint Filing Agreement among RMSI, MS Acquisition, MSSC, RCPI and JRIC Exhibit II - Voting Agreement, dated as of April 28, 1999, between RMSI, Monroe & Company II, LLC, Joseph T. Casey, Glenn F. Gillam, Douglas H. Holstein, Gerald R. Leonard, Sidney D. Rogers, Jr. and Thomas R. Studer Exhibit III - Agreement and Plan of Merger, dated as of April 28, 1999, by and among the Company, RMSI, MS Acquisition, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey and Jeffrey A. Watt Exhibit IV - Form of Certificate of Merger and Exhibit A to Certificate of Merger Exhibit V - Post-Merger Voting Agreement, by and among MS Acquisition, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey, Jeffrey A. Watt, Monroe & Company, LLC and JLM Management Company, LLC Exhibit VI - Registration Rights Agreement, dated as of August 18, 1999, by and among Merkert American Corporation, MS Acquisition Limited, Ronald D. Pedersen, Bruce A. Butler, Gary R. Guffey and Jeffrey A. Watt. Exhibit VII - Joint Filing Agreement among MS Acquisition, MSSC, RCPI, JRIC, Rochon, Bouras and Byrd. Exhibit VIII - Common Stock Purchase Agreement, dated as of January 7, 2000, by and between Marketing Specialists Corporation and MS Acquisition Limited. Exhibit IX - Common Stock Purchase Agreement, dated as of March 30, 2000, by and between Marketing Specialists Corporation and MS Acquisition Limited. Exhibit X - Stockholders Agreement, dated as of March 30, 2000, by and among Marketing Specialists Corporation, First Union Investors, Inc. and MS Acquisition Limited. Exhibit XI - Letter, dated as of June 7, 2000, from Richmont Capital Partners I, L.P. to the board of directors of Marketing Specialists Corporation.* *Filed with this Amendment EXHIBIT XI [Richmont letterhead] June 7, 2000 Confidential The Board of Directors Marketing Specialists Corporation 17855 Dallas Parkway Suite 200 Dallas, Texas 75827 Gentlemen: As you are aware, Richmont Capital Partners I, L.P. ("RCPI"), through its wholly-owned subsidiary MS Acquisition Ltd., is the beneficial owner of approximately 49% of the issued and outstanding common stock of Marketing Specialists Corporation (the "Company"). A group comprised of RCPI and certain investors are prepared to offer to acquire the remaining outstanding shares of common stock of the Company, on the terms and subject to the conditions set forth in this letter, at a price of $2.50 per share. We believe that our price is fair to, and in the best interests of, the Company's stockholders. The proposed acquisition price represents a premium of nearly 150% over the closing price of the Company's common stock over the last five trading days. Our price values the Company on an enterprise-value basis of nearly $350.0 million, which represents a multiple of more than seven times the Company's projected annual EBITDA. We are aware that the Board of Directors of the Company recently formed a Special Committee of independent directors to explore strategic alternatives for the Company; we assume that the Board will want to engage some group of its disinterested directors -- perhaps this Special Committee -- to consider our proposal with its financial advisors and outside counsel. We hereby request that the Board authorize such a committee and its advisors to take such action and perform such analyses as may be appropriate in order for them to be in a position to respond promptly to our proposal and make a recommendation to the Company's stockholders. RCPI is prepared to proceed expeditiously to complete this transaction. In this regard, we anticipate performing only a limited due diligence investigation of the Company, which will consist primarily of updating our understanding of the operations of the Company, its business and its financial condition. Nothing in this letter shall be binding on any of the parties hereto until the execution of a definitive agreement on terms satisfactory to all the parties thereto. We reserve the right to withdraw or modify this proposal at any time. We look forward to meeting with the members of the Special Committee and its financial advisors as soon as possible to explain our offer in more detail and address any questions that the Special Committee or its advisors may have. Thank you for your consideration in this matter. We look forward to hearing from you soon. Sincerely RICHMONT CAPITAL PARTNERS I, L.P. By: /s/ Nick G. Bouras