0001766150-19-000020.txt : 20190605 0001766150-19-000020.hdr.sgml : 20190605 20190605170751 ACCESSION NUMBER: 0001766150-19-000020 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190605 DATE AS OF CHANGE: 20190605 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FARMER BROTHERS CO CENTRAL INDEX KEY: 0000034563 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090] IRS NUMBER: 950725980 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30680 FILM NUMBER: 19880546 BUSINESS ADDRESS: STREET 1: 1912 FARMER BROTHERS DRIVE CITY: NORTHLAKE STATE: TX ZIP: 76262 BUSINESS PHONE: 888 998 2468 MAIL ADDRESS: STREET 1: P O BOX 77057 CITY: FORT WORTH STATE: TX ZIP: 76177 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Levin Easterly Partners LLC CENTRAL INDEX KEY: 0001766150 IRS NUMBER: 832400656 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 595 MADISON AVENUE STREET 2: 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2122590800 MAIL ADDRESS: STREET 1: 595 MADISON AVENUE STREET 2: 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 FARM13DA.htm AMENDMENT NO. 2 TO SCHEDULE 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No.  2)*

 

 

Farmer Bros. Co.
__________________________________________________________________________________

(Name of Issuer)

 

 

Common Stock, par value $1.00 per share
__________________________________________________________________________________

(Title of Class of Securities)

 

 

307675108
__________________________________________________________________________________

(CUSIP Number)

 

John “Jack” Murphy

Levin Easterly Partners LLC

595 Madison Avenue, 17th Floor

New York, NY 10022

Telephone: (212) 259-0800
__________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

 

 

June 3, 2019

__________________________________________________________________________________

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. □

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See 240.13d-7(b) 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).


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    Levin Easterly Partners LLC

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     WC, AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       IA


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    LE Partners Holdings LLC

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       OO


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    LE Partners Holdings II LLC

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       OO


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    LE Partners Holdings III LLC

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       OO


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    LE Partners Holdings IV LLC

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       OO


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    Darrell Crate

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)           □

 

 

6.  Citizenship or Place of Organization

    United States

 

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       IN


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

     Avshalom Kalichstein

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)           □

 

 

6.  Citizenship or Place of Organization

    United States

 

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,581,286

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,556,044

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,556,044

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       IN


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    John Murphy

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     AF

 

5.  Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)           □

 

6.  Citizenship or Place of Organization

    United States

 

 

 

   Number of Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,582,401

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   2,557,159

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       2,557,159

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       15.0%

 

14.  Type of Reporting Person

       IN


 

CUSIP No. 307675108

1.  Names of Reporting Persons.

    Levin Capital Strategies, LP

 

2.  Check the Appropriate Box if a Member of a Group

(a) □

(b) □

 

3.  SEC Use Only

 

4.  Source of Funds

     WC, AF

 

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 Shares

   Beneficially

   Owned by

   Each Reporting

   Person With:

 

 

7.  Sole Voting Power

   0

 

8.  Shared Voting Power

   1,115

 

9.  Sole Dispositive Power

   0

 

10.  Shared Dispositive Power

   1,115

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

       1,115

 

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares           □

 

 

13.  Percent of Class Represented by Amount in Row (11)

       Less than 1%

 

14.  Type of Reporting Person

       IA


The following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (the “Amendment No. 2”). This Amendment No. 2 amends the Schedule 13D as specifically set forth herein.

 

ITEM 3.SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. 

 

Item 3 is hereby amended and restated as follows:

 

The Shares were purchased with general investment funds in open market purchases, except as otherwise noted. The aggregate purchase price of the 2,556,044 Shares owned directly by Levin Easterly is approximately $58,619,383, including brokerage commissions.  The aggregate purchase price of the 1,155 Shares owned directly by LCS is approximately $33,300, including brokerage commissions.

 

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. 

 

The aggregate percentage of Shares reported owned by each person named herein is based upon 17,040,100 Shares outstanding as of April 30, 2019, which is the total number of Shares outstanding as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2019.

 

Items 5(a)-(d) are hereby amended and restated as follows:

 

A.Levin Easterly 

 

(a)As of the close of business on June 4, 2019, Levin Easterly beneficially owned 2,556,044 Shares. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

B.LEPH 

 

(a)As of the close of business on June 4, 2019, LEPH beneficially owned 2,556,044 Shares. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*


11


* See Item 5(d) for further discussion.

 

(c)LEPH has not undertaken any transactions in the Shares during the past 60 days.  The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

C.LEPH II 

 

(a)As of the close of business on June 4, 2019, LEPH II beneficially owned 2,556,044 Shares. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)LEPH II has not undertaken any transactions in the Shares during the past 60 days.  The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

D.LEPH III 

 

(a)As of the close of business on June 4, 2019, LEPH III beneficially owned 2,272,712 Shares. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)LEPH III has not undertaken any transactions in the Shares during the past 60 days.  The transactions in the Shares by LCS during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

E.LEPH IV 

 

(a)As of the close of business on June 4, 2019, LEPH IV beneficially owned 2,556,044 Shares. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 


12


2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)LEPH IV has not undertaken any transactions in the Shares during the past 60 days.  The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

F.Darrell Crate 

 

(a)As Chairman of Levin Easterly and a member of LEPH IV, Mr. Crate is deemed to beneficially own 2,556,044 Shares beneficially owned by Levin Easterly. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)Mr. Crate has not undertaken any transactions in the Shares during the past 60 days. The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

G.Avshalom Kalichstein 

 

(a)As a member of LEPH IV, Mr. Kalichstein is deemed to beneficially own 2,556,044 Shares beneficially owned by Levin Easterly. 

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,581,286*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,556,044*

 

* See Item 5(d) for further discussion.

 

(c)Mr. Kalichstein has not undertaken any transactions in the Shares during the past 60 days. The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 


13


H.John “Jack” Murphy 

 

(a)As Chief Investment Officer of Levin Easterly, Mr. Murphy is deemed to beneficially own 2,386,144 Shares beneficially owned by Levin Easterly and one managed account at LCS.   

 

Percentage: Approximately 15.0%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,582,401*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 2,557,159*

 

* See Item 5(d) for further discussion.

 

(c)Mr. Murphy has not undertaken any transactions in the Shares during the past 60 days. The transactions in the Shares by Levin Easterly during the past 60 days are set forth in Schedule A and are incorporated herein by reference. 

 

I.LCS** 

 

(a)As of the close of business on June 4, 2019, LCS beneficially owned 1,115 Shares. 

 

Percentage: Approximately 0.01%.

 

(b)1. Sole power to vote or direct vote:  0 

 

2. Shared power to vote or direct vote: 1,115*

 

3. Sole power to dispose or direct the disposition: 0

 

4. Shared power to dispose or direct the disposition: 1,115*

 

* See Item 5(d) for further discussion.

**Amounts set forth above include only those Shares of the Issuer held in an account managed by Mr. Murphy for whom LCS acts as investment manager and do not include any other Shares of the Issuer beneficially owned by LCS for which Mr. Murphy does not have investment discretion or voting power.

 

(c)LCS has not undertaken any transactions in the Shares during the past 60 days.  

 

The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any of the securities reported herein. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that are not directly owned by such Reporting Person, except to the extent of their pecuniary interest therein.

 

(d)Various separately managed accounts for whom Levin Easterly acts as investment manager have the right to receive dividends from, and the proceeds from the sale of 2,556,044 Shares. Dispositive power over such Shares is shared.  Voting power over such Shares is deemed shared between such managed accounts and Levin Easterly with respect to 1,581,286 Shares.  


14


One managed account managed by Mr. Murphy for whom LCS acts as investment manager has the right to receive dividends from, and the proceeds from the sale of 1,115 Shares. Dispositive power over such Shares is shared.  Voting power over such Shares is deemed shared between such managed account and LCS with respect to 1,115 Shares.

 

(e)Not applicable 


15


SIGNATURES

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned, severally and not jointly, certifies that the information set forth in this statement is true, complete and correct.

Dated:  June 5, 2019

LEVIN EASTERLY PARTNERS LLC

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate 

 

Title: Chairman 

 

 

 

LE PARTNERS HOLDINGS LLC

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate 

 

Title: Managing Director 

 

 

 

LE PARTNERS HOLDINGS II LLC

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate 

 

Title: Managing Director 

 

 

 

LE PARTNERS HOLDINGS III LLC

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate 

 

Title: Managing Director 

 

 

 

LE PARTNERS HOLDINGS IV LLC

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate 

 

Title: Managing Director 

 

 

 

 

 

By:

/s/ Darrell Crate 

 

Name: Darrell Crate  

 

 

 

 

 

By:

/s/ Avshalom Kalichstein 

 

Name: Avshalom Kalichstein  

 

 

 

 


16


 

 

By:

/s/ John Murphy 

 

Name: John Murphy 

 

 

 

LEVIN CAPITAL STRATEGIES, LP

 

 

 

 

 

By:

/s/ John A. Levin 

 

Name: John A. Levin  

 

Title: Chief Executive Officer 


17


Schedule A

Transactions in the Shares During the Past Sixty Days

 

Date

Buy or Sell

Quantity

Price Per Share (before commission)

Reporting Person

April 12, 2019

Buy

450,000

$19.85

Levin Easterly Partners LLC

April 12, 2019

Buy

256

$19.2556

Levin Easterly Partners LLC

April 15, 2019

Buy

14,438

$19.7917

Levin Easterly Partners LLC

April 15, 2019

Buy

1,035

$19.80

Levin Easterly Partners LLC

April 15, 2019

Buy

1,432

$19.795

Levin Easterly Partners LLC

April 15, 2019

Buy

95,412

$19.7917

Levin Easterly Partners LLC

April 16, 2019

Buy

2,145

$19.7965

Levin Easterly Partners LLC

May 1, 2019

Buy

9,019

$19.8567

Levin Easterly Partners LLC

May 2, 2019

Buy

6,956

$19.7471

Levin Easterly Partners LLC

May 8, 2019

Buy

129,979

$17.4274

Levin Easterly Partners LLC

May 20, 2019

Buy

6,665

$18.7697

Levin Easterly Partners LLC

May 21, 2019

Buy

15,019

$18.8262

Levin Easterly Partners LLC

May 28, 2019

Buy

902

$18.475

Levin Easterly Partners LLC

June 3, 2019

Buy

267

$18.20

Levin Easterly Partners LLC