-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LrjhPok7ULeYs4yxao2JWQ09m7HcchNGxdFNawtqmIekCdaF/5q1UcGBu6NEU6CI DKtCmM/4zJiyESz3a7U2dQ== 0000891092-07-002472.txt : 20070618 0000891092-07-002472.hdr.sgml : 20070618 20070618084133 ACCESSION NUMBER: 0000891092-07-002472 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070618 DATE AS OF CHANGE: 20070618 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BARINGTON COMPANIES EQUITY PARTNERS L P CENTRAL INDEX KEY: 0001107149 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 888 7TH AVE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129745700 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LANCASTER COLONY CORP CENTRAL INDEX KEY: 0000057515 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030] IRS NUMBER: 131955943 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-33383 FILM NUMBER: 07924609 BUSINESS ADDRESS: STREET 1: 37 W. BROAD STREET STREET 2: 5TH FLOOR CITY: COLUMBUS STATE: OH ZIP: 43215 BUSINESS PHONE: 6142247141 MAIL ADDRESS: STREET 1: 37 W. BROAD STREET STREET 2: 5TH FLOOR CITY: COLUMBUS STATE: OH ZIP: 43215 SC 13D 1 e27642_13d.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Amendment No. 1 INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) Lancaster Colony Corporation ---------------------------- (Name of Issuer) Common Stock, no par value per share ------------------------------------ (Title of Class of Securities) 513847103 --------- (CUSIP Number) Mr. James A. Mitarotonda c/o Barington Companies Equity Partners, L.P. 888 Seventh Avenue, 17th Floor New York, NY 10019 (212) 974-5700 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 15, 2007 ------------- (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 Rule 13d-1(e), 13d-1(f), or 13d-1(g), check the following box: |_|. (Continued on following pages) (Page 1 of 34 Pages) SCHEDULE 13D CUSIP No. 513847103 Page 2 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Companies Equity Partners, L.P. 13-4088890 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 480,956 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 480,956 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 480,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.54% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 3 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Companies Investors, LLC 13-4126527 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 480,956 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 480,956 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 480,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.54% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 4 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Investments, L.P. 20-2871525 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 221,924 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 221,924 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 221,924 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.71% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 5 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Companies Advisors, LLC 20-0327470 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 221,924 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 221,924 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 221,924 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.71% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 6 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Benchmark Opportunitas Fund plc - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Ireland - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 43,227 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 43,227 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 43,227 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.14% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 7 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Offshore Advisors, LLC 20-4797640 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 43,227 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 43,227 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 43,227 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.14% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IA, OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 8 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Companies Offshore Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 796,498 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 796,498 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 796,498 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.55% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 9 of 34 Pages - ------------------- ------------------ 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Offshore Advisors II, LLC 20-8325785 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 796,498 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 796,498 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 796,498 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 2.55% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IA, OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 10 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Barington Capital Group, L.P. 13-3635132 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,542,605 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,542,605 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,542,605 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.93% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 11 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) LNA CApital Corp. 13-3635168 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,542,605 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,542,605 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,542,605 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.93% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 12 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) James A. Mitarotonda - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,542,605 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 1,542,605 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,542,605 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.93% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 13 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) RJG Capital Partners, L.P. 20-0133443 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,300 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 4,300 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 4,300 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 14 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) RJG Capital Management, LLC 20-0027325 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,300 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 4,300 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 4,300 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 15 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Ronald Gross - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 4,300 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 4,300 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 4,300 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 16 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) D.B. Zwirn Special Opportunities Fund, L.P. 73-1637217 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 34,327 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 34,327 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 34,327 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.11% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 17 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) D.B. Zwirn Special Opportunities Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 67,104 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 67,104 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 67,104 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.21% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 18 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) HCM/Z Special Opportunities LLC 98-0436333 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 7,908 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 7,908 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 7,908 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.03% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 19 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) D.B. Zwirn & Co., L.P. 02-0597442 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 109,339 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 109,339 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 109,339 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.35% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 20 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) DBZ GP, LLC 42-1657316 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 109,339 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 109,339 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 109,339 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.35% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 21 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Zwirn Holdings, LLC 30-0080444 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 109,339 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 109,339 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 109,339 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.35% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - -------------------------------------------------------------------------------- SCHEDULE 13D CUSIP No. 513847103 Page 22 of 34 Pages - ------------------- ------------------- 1 NAME OF REPORTING PERSON: I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Daniel B. Zwirn - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 109,339 NUMBER OF ---------------------------------------------------------- SHARES 8 SHARED VOTING POWER none BENEFICIALLY ---------------------------------------------------------- OWNED BY EACH 9 SOLE DISPOSITIVE POWER 109,339 REPORTING ---------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER none - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 109,339 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.35% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - -------------------------------------------------------------------------------- Page 23 of 34 Pages This Amendment No. 1 amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on March 19, 2007 (the "Statement") by and on behalf of Barington Companies Equity Partners, L.P. ("Barington") and others with respect to the common stock, no par value per share (the "Common Stock"), of Lancaster Colony Corporation, an Ohio corporation (the "Company"). The principal executive offices of the Company are located at 37 West Broad Street, Columbus, Ohio 43215. Item 2. Identity and Background. The second paragraph of Item 2(a) - (c) of the Statement is hereby amended and restated as follows: As of June 15, 2007, the Reporting Entities are the beneficial owners of, in the aggregate, 1,656,244 shares of Common Stock, representing approximately 5.29% of the shares of Common Stock presently outstanding. Item 3. Source and Amount of Funds or Other Consideration. Item 3 of the Statement is hereby amended and supplemented as follows: Since the filing of the Statement, the Reporting Entities purchased an aggregate of 12,200 shares of Common Stock. All purchases of Common Stock by the Reporting Entities were made in open market transactions. All purchases were funded by working capital, which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business. The amount of funds expended for such purchases (excluding commissions and other execution-related costs) was approximately $367,630.02 by Barington Companies Equity Partners, L.P., $113,276.66 by Barington Investments, L.P., $18,858.25 by Benchmark Opportunitas Fund plc, $6,907.63 by D.B. Zwirn Special Opportunities Fund, L.P. and $10,340.26 by D.B. Zwirn Special Opportunities Fund, Ltd. Item 4. Purpose of Transaction. Item 4 of the Statement is hereby amended and supplemented as follows: On June 15, 2007, James A. Mitarotonda, the Chairman and Chief Executive Officer of Barington Capital Group, L.P., sent a letter to John B. Gerlach, Jr., the Company's Chairman of the Board, Chief Executive Officer and President, a copy of which is attached as Exhibit 99.2 hereto and incorporated by reference herein. Item 5. Interest in Securities of the Issuer. Items 5(a) - (c) of the Statement are hereby amended and restated as follows: (a) As of June 15, 2007, Barington Companies Equity Partners, L.P. beneficially owns an aggregate of 480,956 shares of Common Stock, representing approximately 1.54% of the shares of Common Stock presently outstanding based upon the 31,284,000 shares of Common Stock reported by the Company to be issued and outstanding as of April 30, 2007 in its Form 10-Q filed with the Securities and Exchange Commission on May 10, 2007 (the "Issued and Outstanding Shares"). Page 24 of 34 Pages As of June 15, 2007, Barington Investments, L.P. beneficially owns 221,924 shares of Common Stock, representing approximately 0.71% of the Issued and Outstanding Shares. As of June 15, 2007, Benchmark Opportunitas Fund plc beneficially owns 43,227 shares of Common Stock, representing approximately 0.14% of the Issued and Outstanding Shares. As of June 15, 2007, Barington Companies Offshore Fund, Ltd. beneficially owns 796,498 shares of Common Stock, representing approximately 2.55% of the Issued and Outstanding Shares. As the general partner of Barington Companies Equity Partners, L.P., Barington Companies Investors, LLC may be deemed to beneficially own the 480,956 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., representing approximately 1.54% of the Issued and Outstanding Shares. As the general partner of Barington Investments, L.P., Barington Companies Advisors, LLC may be deemed to beneficially own the 221,924 shares of Common Stock beneficially owned by Barington Investments, L.P., representing approximately 0.71% of the Issued and Outstanding Shares. As the investment advisor to Benchmark Opportunitas Fund plc, Barington Offshore Advisors, LLC may be deemed to beneficially own the 43,227 shares of Common Stock beneficially owned by Benchmark Opportunitas Fund plc, representing approximately 0.14% of the Issued and Outstanding Shares. As the investment advisor to Barington Companies Offshore Fund, Ltd., Barington Offshore Advisors II, LLC may be deemed to beneficially own the 796,498 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., representing approximately 2.55% of the Issued and Outstanding Shares. As the majority member of Barington Companies Investors, LLC, Barington Companies Advisors, LLC, Barington Offshore Advisors, LLC and Barington Offshore Advisors II, LLC, Barington Capital Group, L.P. may be deemed to beneficially own the 480,956 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 221,924 shares of Common Stock beneficially owned by Barington Investments, L.P., the 43,227 shares of Common Stock beneficially owned by Benchmark Opportunitas Fund plc and the 796,498 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 1,542,605 shares, representing approximately 4.93% of the Issued and Outstanding Shares. As the general partner of Barington Capital Group, L.P., LNA Capital Corp. may be deemed to beneficially own the 480,956 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 221,924 shares of Common Stock beneficially owned by Barington Investments, L.P., the 43,227 shares of Common Stock beneficially owned by Benchmark Opportunitas Fund plc and the 796,498 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 1,542,605 shares of Common Stock, representing approximately 4.93% of the Issued and Outstanding Shares. As the sole stockholder and director of LNA Capital Corp., James A. Mitarotonda may be deemed to beneficially own the 480,956 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 221,924 shares of Common Stock beneficially owned by Barington Investments, L.P., the 43,227 shares of Common Stock beneficially owned by Benchmark Opportunitas Fund plc and the 796,498 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 1,542,605 shares of Common Stock, representing approximately 4.93% of the Issued and Outstanding Shares. Mr. Mitarotonda has sole voting and dispositive power with respect to the 480,956 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 221,924 shares of Common Stock beneficially owned by Barington Investments, L.P., the 43,227 shares of Common Stock beneficially owned by Benchmark Opportunitas Fund plc and the 796,498 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd. Mr. Mitarotonda disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein. Page 25 of 34 Pages As of June 15, 2007, RJG Capital Partners, L.P. beneficially owns 4,300 shares of Common Stock, representing approximately 0.01% of the Issued and Outstanding Shares. As the general partner of RJG Capital Partners, L.P., RJG Capital Management, LLC may be deemed to beneficially own the 4,300 shares owned by RJG Capital Partners, L.P., representing approximately 0.01% of the Issued and Outstanding Shares. As the managing member of RJG Capital Management, LLC, which in turn is the general partner of RJG Capital Partners, L.P., Mr. Gross may be deemed to beneficially own the 4,300 shares owned by RJG Capital Partners, L.P., representing approximately 0.01% of the Issued and Outstanding Shares. Mr. Gross has sole voting and dispositive power with respect to the 4,300 shares owned by RJG Capital Partners, L.P. by virtue of his authority to vote and dispose of such shares. Mr. Gross disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein. As of June 15, 2007, D.B. Zwirn Special Opportunities Fund, L.P. beneficially owns 34,327 shares of Common Stock, representing approximately 0.11% of the Issued and Outstanding Shares. As of June 15, 2007, D.B. Zwirn Special Opportunities Fund, Ltd. beneficially owns 67,104 shares of Common Stock, representing approximately 0.21% of the Issued and Outstanding Shares. As of June 15, 2007, HCM/Z Special Opportunities LLC beneficially owns 7,908 shares of Common Stock representing approximately 0.03%, of the Issued and Outstanding Shares. As the manager of D.B. Zwirn Special Opportunities Fund, L.P., D.B. Zwirn Special Opportunities Fund, Ltd. and HCM/Z Special Opportunities LLC, D.B. Zwirn & Co., L.P. may be deemed to beneficially own the 34,327 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, L.P., the 67,104 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, Ltd. and the 7,908 shares of Common Stock beneficially owned by HCM/Z Special Opportunities LLC, constituting an aggregate of 109,339 shares, representing approximately 0.35% of the Issued and Outstanding Shares. As general partner of D.B. Zwirn & Co., L.P., DBZ GP, LLC may be deemed to beneficially own the 34,327 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, L.P., the 67,104 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, Ltd. and the 7,908 shares of Common Stock beneficially owned by HCM/Z Special Opportunities LLC, constituting an aggregate of 109,339 shares, representing approximately 0.35% of the Issued and Outstanding Shares. As the managing member of DBZ GP, LLC, Zwirn Holdings, LLC may be deemed to beneficially own the 34,327 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, L.P., the 67,104 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, Ltd. and the 7,908 shares of Common Stock beneficially owned by HCM/Z Special Opportunities LLC, constituting an aggregate of 109,339 shares, representing approximately 0.35% of the Issued and Outstanding Shares. As the managing member of Zwirn Holdings, LLC, Daniel B. Zwirn may be deemed to beneficially own the 34,327 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, L.P., the 67,104 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, Ltd. and the 7,908 shares of Common Stock beneficially owned by HCM/Z Special Opportunities LLC, constituting an aggregate of 109,339 shares, representing approximately 0.35% of the Issued and Outstanding Shares. Mr. Zwirn has sole voting and dispositive power with respect to the 34,327 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, L.P., the 67,104 shares of Common Stock beneficially owned by D.B. Zwirn Special Opportunities Fund, Ltd. and the 7,908 shares of Common Stock beneficially owned by HCM/Z Special Opportunities LLC. Mr. Page 26 of 34 Pages Zwirn disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. The Reporting Entities do not believe that certain of the foregoing information is called for by the Items of Schedule 13D and are disclosing it for supplemental informational purposes only. Information with respect to each of the Reporting Entities is given solely by such Reporting Entity and no Reporting Entity shall have responsibility for the accuracy or completeness of information supplied by another Reporting Entity. (b) Each of the Reporting Entities may be deemed to have sole voting and dispositive power over the shares of Common Stock reported as beneficially owned by such person by virtue of their respective positions as described in paragraph (a). Each of the other Reporting Entities may be deemed to have sole voting and dispositive power with respect to the shares each reports as beneficially owned by such person, regardless of the fact that multiple Reporting Entities within the same chain of ownership report sole voting and dispositive power with respect to such shares. Each such Reporting Entity reports sole voting and dispositive power with respect to such shares based on such person's relationship to the other Reporting Entities within the same chain of ownership. Except to the extent expressly stated herein, each Reporting Entity disclaims beneficial ownership of any shares of Common Stock beneficially owned by any other Reporting Entity. (c) Information concerning all transactions in shares of Common Stock effected by the Reporting Persons since the filing of the Statement are described in the Schedule attached hereto and incorporated herein by reference. Item 7. Material to be Filed as Exhibits.
Exhibit No. Exhibit Description Page - ----------- ------------------- ---- - ------------------------------------------------------------------------------------------------------------------------------------ 99.2 Letter, dated June 15, 2007, from James A. Mitarotonda, the 32 to 34 Chairman and Chief Executive Officer of Barington Capital Group, L.P., to John B. Gerlach, Jr., the Chairman of the Board, Chief Executive Officer and President of the Company. - ------------------------------------------------------------------------------------------------------------------------------------
Page 27 of 34 Pages SIGNATURES 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. Dated: June 15, 2007 BARINGTON COMPANIES EQUITY PARTNERS, L.P. By: Barington Companies Investors, LLC, its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON COMPANIES INVESTORS, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON INVESTMENTS, L.P. By: Barington Companies Advisors, LLC, its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON COMPANIES ADVISORS, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BENCHMARK OPPORTUNITAS FUND PLC By: Barington Offshore Advisors, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member Page 28 of 34 Pages BARINGTON OFFSHORE ADVISORS, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON COMPANIES OFFSHORE FUND, LTD. By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President BARINGTON OFFSHORE ADVISORS II, LLC By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: Managing Member BARINGTON CAPITAL GROUP, L.P. By: LNA Capital Corp., its general partner By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President and CEO LNA CAPITAL CORP. By: /s/ James A. Mitarotonda ---------------------------- Name: James A. Mitarotonda Title: President and CEO /s/ James A. Mitarotonda ---------------------------- James A. Mitarotonda RJG CAPITAL PARTNERS, L.P. By: RJG Capital Management, LLC, its general partner By: /s/ Ronald J. Gross ---------------------------- Name: Ronald J. Gross Title: Managing Member Page 29 of 34 Pages RJG CAPITAL MANAGEMENT, LLC By: /s/ Ronald J. Gross ----------------------- Name: Ronald J. Gross Title: Managing Member /s/ Ronald J. Gross ----------------------- Ronald J. Gross D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, L.P. By: D.B. Zwirn Partners, LLC, its general partner By: Zwirn Holdings, LLC, its managing member By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member D.B. ZWIRN SPECIAL OPPORTUNITIES FUND, LTD. By: D.B. Zwirn & Co., L.P., its manager By: DBZ GP, LLC, its general partner By: Zwirn Holdings, LLC, its managing member By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member HCM/Z SPECIAL OPPORTUNITIES LLC By: D.B. Zwirn & Co., L.P., its manager By: DBZ GP, LLC, its general partner By: Zwirn Holdings, LLC, its managing member By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member Page 30 of 34 Pages D.B. ZWIRN & CO., L.P. By: DBZ GP, LLC, its general partner By: Zwirn Holdings, LLC, its managing member By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member DBZ GP, LLC By: Zwirn Holdings, LLC, its managing member By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member ZWIRN HOLDINGS, LLC By: /s/ Daniel B. Zwirn ----------------------- Name: Daniel B. Zwirn Title: Managing Member /s/ Daniel B. Zwirn ----------------------- Daniel B. Zwirn Page 31 of 34 Pages SCHEDULE This schedule sets forth information with respect to each purchase or sale of Common Stock which was effectuated by a Reporting Entity since the filing of the Statement. All transactions were effectuated in the open market through a broker. Shares purchased by Barington Companies Equity Partners, L.P. Number of Date Shares Price Per Share Cost(*) - ---- ----------- --------------- -------------- 5/1/2007 8,675 $42.3781 $367,630.02 Shares purchased by Barington Investments, L.P. Number of Date Shares Price Per Share Cost(*) - ---- ----------- --------------- -------------- 5/1/2007 2,673 $42.3781 $113,276.66 Shares purchased by Benchmark Opportunitas Fund plc Number of Date Shares Price Per Share Cost(*) - ---- ----------- --------------- -------------- 5/1/2007 445 $42.3781 $18,858.25 Shares purchased and sold by D.B. Zwirn Special Opportunities Fund, L.P. Number of Date Shares Price Per Share Cost(*) - ---- ----------- --------------- -------------- 1/26/2007(**) (598) $45.1504 $(26,999.94) 5/1/2007 163 $42.3781 $6,907.63 Shares purchased and sold by D.B. Zwirn Special Opportunities Fund, Ltd. Number of Date Shares Price Per Share Cost(*) - ---- ----------- --------------- -------------- 1/26/2007(**) (859) $45.1504 $(38,784.19) 5/1/2007 244 $42.3781 $10,340.26 (*) Excludes commissions and other execution-related costs. (**) Transaction is amended and restated. EX-99.2 2 e27642ex99-2.txt LETTER Page 32 of 34 Pages EXHIBIT 99.2 Barington Capital Group, L.P. 888 Seventh Avenue New York, New York 10019 June 15, 2007 John B. Gerlach, Jr. Chairman of the Board, Chief Executive Officer and President Lancaster Colony Corporation 37 West Broad Street Columbus, Ohio 43215 Dear Mr. Gerlach: As you know, it has been over 14 months since we first met with you and members of your management team to discuss our proposals to improve the profitability and share price performance of Lancaster Colony Corporation, including, among other things, the divestiture of the Company's Automotive and Glassware and Candles segments. Unfortunately, it appears that little progress has been made toward achieving these objectives to date. We appreciate that since our first meeting the Company has acknowledged the potential benefits of exiting its non-core business segments and announced that it has commenced a process of "exploring a number of strategic alternatives, including potential divestitures, among its non-food businesses." (Lancaster press release, April 28, 2006) Given the decline in the performance of these business segments, such action was long overdue. Based on the Company's public filings, over the course of your tenure as the Chief Executive Officer the operating margin of the Glassware and Candles segment has declined by 22 percentage points - from 24.2% in fiscal 1997 to 2.2% in the most recent trailing twelve month period ended March 31, 2007. Over the same time period, the operating margin of the Automotive segment has declined by over 10 percentage points, from 8.6% in fiscal 1997 to a (1.7%) operating loss during the most recent trailing twelve month period. In the Company's April 28, 2006 press release, you stated, "After careful review, we felt there may be actions we could undertake aimed at solidifying our focus on the company's best growth opportunities, reducing our capital expenditure needs and lessening our operating volatility." Although more than a year has passed since you issued that statement - a period of time that in our view should have been more than sufficient to accomplish these goals - the Company has failed to announce any significant progress toward these ends. To date, the only accomplishments announced by the Company have been the closure of one industrial glass manufacturing operation and the sale of an automotive accessory business located in Wapakoneta, Ohio: a $26 million business that represents less than 2% of the Company's trailing twelve month revenues. Page 33 of 34 Pages We are extremely disappointed that this is all the Company has to show for its efforts. In our opinion, such little progress after such an extended period of time has done little, if anything, to benefit Lancaster's public shareholders as the Company's stock continues to languish. As you know, Lancaster's share price performance has consistently lagged behind the Company's peers as well as the market as a whole by a wide margin for some time now, as shown by the table below:
1 Year 3 Years 5 Years 10 Years (6/30/06 - 6/12/07) (6/30/04 - 6/12/07) (6/30/02 - 6/12/07) (6/30/97 - 6/12/07) ------------------- ------------------- ------------------- ------------------- Lancaster Colony Corporation 5.5% 0.0% 16.8% 29.2% Dow Jones U.S. Food Producers Index 13.5% 24.0% 39.6% 42.6% Russell 2000 Index 13.4% 38.9% 77.6% 107.3% S&P Midcap 400 Index 16.3% 46.4% 81.8% 210.4%
Furthermore, management's failure to promptly divest these business segments has prolonged the time that the Company continues to operate under what we believe to be an inefficient "holding company" structure, which has imposed additional corporate level expenses on the Company and its public shareholders. We believe that the Company's Automotive and Glassware and Candles businesses have not only served as a distraction from the Company's core Specialty Foods business - which has seen its operating margins decline from greater than 20% in fiscal 2001 to 15.4% during the most recent trailing twelve month period to 12.4% in the most recent quarter ended March 31, 2007 - but have also been poorly received by the marketplace, as the Company trades at approximately a 20% discount to the EV/EBITDA multiple enjoyed by its Specialty Foods peer group.(1) Moreover, these two lower-margin businesses have failed to provide any meaningful strategic or synergistic benefits to the Company's core Specialty Foods business. In light of the foregoing, we strongly believe that the prompt disposition of the Automotive and Glassware and Candles businesses is imperative. In addition, we reiterate our recommendation that while the Company pursues the divestiture of its non-core business segments, its management team should concurrently be taking action to improve the profitability of the Company's Specialty Foods segment, including cost cuts and other initiatives to return this segment to historical levels of profitability with an operating margin of at least 20%. Finally, we strongly recommend that you take steps to improve Lancaster's capital structure and demonstrate to shareholders that the Company is committed to enhancing shareholder value on a long-term basis. In our opinion, the Company's balance sheet, as it currently stands, is sub-optimal. While we certainly support a conservative capital structure, as the Company's balance sheet is currently debt-free and the cost of debt is significantly less than the cost of equity, we feel that the incurrence of $300 million in debt by the Company in order to finance a self-tender offer (or similar transaction) would create significant value for shareholders, improve the Company's capital structure and re-iterate the Company's dedication to long-term value creation. - ---------- (1) Calculation based on the average EV/EBITDA multiple for the most recent trailing twelve month period for the Dow Jones U.S. Food Producers Index Page 34 of 34 Pages Barington Capital Group, L.P. has been a patient investor in Lancaster because we believe that the Company is significantly undervalued and has the potential to deliver considerably better returns to shareholders. However, we find the Company's plummeting profitably ratios and disappointing share price performance under your leadership over the past ten years to be entirely unacceptable and eroding value for the public shareholders of the Company. We believe that time is now of the essence and hope that you will be taking immediate action to address the issues we have discussed. Sincerely, /s/ James A. Mitarotonda James A. Mitarotonda -----END PRIVACY-ENHANCED MESSAGE-----