UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Collective Brands, Inc.
-----------------
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
-----------------------------
(Title of Class of Securities)
19421W100
---------
(CUSIP Number)
Gregory D. Hitchan
Blum Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, CA 94133
(415) 434-1111
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 24, 2010
-----------------
(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 Section 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box [ ].
*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).
Page 1 of 12
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 2 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 94-3205364
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- -----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,637,913**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,637,913**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,637,913**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN, IA
- -----------------------------------------------------------------------------
** See Item 5
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 3 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 94-2967812
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION California
- -----------------------------------------------------------------------------
7. SOLE VOTING POWER -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,637,913**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,637,913**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,637,913**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON CO
- -----------------------------------------------------------------------------
** See Item 5
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 4 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 26-0588693
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,637,913**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,637,913**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,637,913**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON OO (Limited Liability Company)
- -----------------------------------------------------------------------------
** See Item 5
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 5 of 12
- -----------------------------------------------------------------------------
1. NAME OF REPORTING PERSON BLUM STRATEGIC GP IV, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 26-0588732
- -----------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [x]
- -----------------------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------------------
4. SOURCE OF FUNDS* See Item 3
- -----------------------------------------------------------------------------
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 -0-
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER 3,637,913**
BENEFICIALLY
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER -0-
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER 3,637,913**
- -----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,637,913**
- -----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6%**
- -----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON PN
- -----------------------------------------------------------------------------
** See Item 5
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 6 of 12
Item 1. Security and Issuer
- -----------------------------
This Schedule 13D relates to shares of common stock, $0.01 par value per
share (the "Common Stock") of Collective Brands, Inc., a Delaware corporation
(the "Issuer"). The principal executive office and mailing address of the
Issuer is 3231 Southeast Sixth Avenue, Topeka, Kansas 66607-2207.
Item 2. Identity and Background
- ---------------------------------
This Schedule 13D is being filed by Blum Capital Partners, L.P., a California
limited partnership, ("Blum LP"); Richard C. Blum & Associates, Inc., a
California corporation ("RCBA Inc."); Blum Strategic GP IV, L.L.C., a Delaware
limited liability company ("Blum GP IV"); and Blum Strategic GP IV, L.P., a
Delaware limited partnership ("Blum GP IV LP"); (collectively, the "Reporting
Persons").
Blum LP is a California limited partnership whose principal business is
acting as general partner for investment partnerships and providing
investment advisory services. Blum LP is an investment advisor registered
with the Securities and Exchange Commission. The sole general partner of
Blum LP is RCBA Inc.
The principal business office address of Blum LP and RCBA Inc. is 909
Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the executive officers and directors of RCBA Inc., their addresses,
citizenship and principal occupations are as follows:
Name and Business Citizenship Principal Occupation
Office Held Address or Employment
- -------------------- ----------------------- --------- --------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
President, Suite 400 Blum LP
Chairman & Director San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Partner Suite 400 Norway Blum LP
& Director San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Arthur C. Young 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 7 of 12
Name and Business Citizenship Principal Occupation
Office Held Address or Employment
- -------------------- ----------------------- --------- --------------------
Douglas J. Dossey 909 Montgomery St. USA and Partner,
Partner Suite 400 Italy Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Partner, Chief Suite 400 Operating Officer,
Operating Officer, San Francisco, CA 94133 General Counsel and
General Counsel and Secretary, Blum LP
Secretary
Jane J. Su 909 Montgomery St. USA Partner,
Partner Suite 400 Blum LP
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Partner, Chief Suite 400 Financial Officer,
Financial Officer, San Francisco, CA 94133 Blum LP
Assistant Secretary
& Director
Blum GP IV is a Delaware limited liability company whose principal business is
acting as the general partner of Blum GP IV LP, a Delaware limited partnership,
whose principal business is acting as the general partner of Blum Strategic
Partners IV, L.P. ("Blum Strategic IV"), whose principal office is 909
Montgomery Street, Suite 400, San Francisco, California 94133.
The principal business office address of Blum GP IV and Blum GP IV LP is
909 Montgomery Street, Suite 400, San Francisco, California 94133. The names
of the managing members and members of Blum GP IV, their addresses,
citizenship and principal occupations are as follows:
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 8 of 12
Name and Business Citizen- Principal Occupation
Office Held Address ship or Employment
- -------------------- ----------------------- --------- -------------------
Richard C. Blum 909 Montgomery St. USA President & Chairman,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Nils Colin Lind 909 Montgomery St. USA and Managing Partner,
Managing Member Suite 400 Norway Blum LP
San Francisco, CA 94133
Gregory L. Jackson 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
Arthur C. Young 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Douglas J. Dossey 909 Montgomery St. USA and Partner,
Member Suite 400 Italy Blum LP
San Francisco, CA 94133
John H. Park 909 Montgomery St. USA Partner,
Managing Member Suite 400 Blum LP
San Francisco, CA 94133
David H.S. Chung 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Gregory D. Hitchan 909 Montgomery St. USA Partner, Chief
Managing Member Suite 400 Operating Officer,
San Francisco, CA 94133 General Counsel and
Secretary, Blum LP
Jane J. Su 909 Montgomery St. USA Partner,
Member Suite 400 Blum LP
San Francisco, CA 94133
Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief
Member Suite 400 Financial Officer,
San Francisco, CA 94133 Blum LP
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 9 of 12
To the best knowledge of the Reporting Persons, none of the entities or
persons identified in this Item 2 has, during the past five years, been
convicted of any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to
such laws.
Item 3. Source and Amount of Funds or Other Considerations
- ------------------------------------------------------------
The source of funds for the purchases of securities was the working capital
of Blum LP's limited partnerships and the partnership for which Blum GP IV LP
serves as the sole general partner.
Item 4. Purpose of Transaction
- --------------------------------
The purpose of the acquisition of the Common Stock is for investment, and the
acquisitions of the Common Stock were made in the ordinary course of business
and were not made for the purpose of acquiring control of the Issuer.
Although no Reporting Person has any specific plan or proposal to acquire or
dispose of the Common Stock, consistent with its investment purpose, each
Reporting Person at any time and from time to time may acquire additional
Common Stock or dispose of any or all of its Common Stock depending upon an
ongoing evaluation of the investment in the Common Stock, prevailing market
conditions, other investment opportunities, liquidity requirements of the
Reporting Persons and/or other investment considerations.
Also, consistent with the investment purpose, the Reporting Persons may engage
in communications with one or more shareholders of the Issuer, one or more
officers of the Issuer and/or one or more members of the board of directors of
the Issuer and/or one or more representatives of the Issuer regarding the
Issuer, including but not limited to its operations. The Reporting Persons
may discuss ideas that, if effected may result in any of the following: the
acquisition by persons of additional Common Stock of the Issuer, an
extraordinary corporate transaction involving the Issuer, and/or changes in
the board of directors or management of the Issuer.
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 10 of 12
Except to the extent the foregoing may be deemed a plan or proposal, none of
the Reporting Persons has any plans or proposals which relate to, or could
result in, any of the matters referred to in paragraphs (a) through (j),
inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting
Persons may, at any time and from time to time, review or reconsider their
position and/or change their purpose and/or formulate plans or proposals with
respect thereto.
Item 5. Interest in Securities of the Issuer
- ----------------------------------------------
(a), (b) According to the Issuer's 10Q filed with the Securities and
Exchange Commission on June 2, 2010, there were 64,884,442 shares of
Common Stock issued and outstanding as of May 25, 2010. Based on such
information, after taking into account the transactions described in Item 5(c)
below, the Reporting Persons report beneficial ownership of the following
shares of Common Stock: (i) 1,495,125 shares of Common Stock held by Blum LP
and RCBA Inc. on behalf of the limited partnerships for which Blum LP serves
as the general partner, which represents 2.3% of the outstanding shares of the
Common Stock; (ii) 2,142,788 shares of the Common Stock held by Blum GP IV,
which serves as general partner of Blum GP IV LP which, in turn, serves as
the general partner of Blum Strategic IV, which represents 3.3% of the
outstanding shares of the Common Stock.
Voting and investment power concerning the above shares are held solely by Blum
LP, and Blum GP IV. The Reporting Persons therefore may be deemed to be members
in a group, in which case the group would be deemed to have beneficial
ownership of an aggregate of 3,637,913 shares of the Common Stock, which is
5.6% of the outstanding Common Stock. As the sole general partner of Blum LP,
RCBA Inc. is deemed the beneficial owner of the securities over which Blum LP
has voting and investment power. The filing of this Schedule shall not be
construed as an admission that any of the shareholders, directors or executive
officers of RCBA Inc. or the managing members and members of Blum GP IV, and
Blum GP IV LP, is, for any purpose, the beneficial owner of any of the
securities that are beneficially owned by RCBA Inc., Blum GP IV or Blum GP IV
LP.
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 11 of 12
c) The Reporting Persons effected the following transactions in the Common
Stock during the last 60 days:
The Reporting Persons purchased the following number of shares of Common Stock
in the open market:
Entity Trade Date Shares Price/Share
- ------- ---------- -------- -----------
Investment partnerships for 06-04-2010 50,000 19.7926
which Blum LP serves as the 06-04-2010 300,000 19.6611
general partner. 06-08-2010 10,026 18.4824
06-09-2010 25,200 18.4931
06-24-2010 137,743 16.2450
06-25-2010 12,804 16.1226
06-28-2010 9,000 16.1567
06-29-2010 50,000 16.0117
06-29-2010 50,000 16.0092
06-29-2010 240,453 15.9836
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
- -----------------------------------------------------------------------------
None of the Reporting Persons or, to the best knowledge of the Reporting
Persons, the other persons named in Item 2, is a party to any contract,
arrangement, understanding or relationship with respect to any securities of
the Issuer, including but not limited to the transfer or voting of any
securities of the Issuer, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, division of profits or
loss, or the giving or withholding of proxies, except as noted above, Blum LP
has voting and investment power of the shares held by it for the benefit of
The Investment Advisory Clients.
Item 7. Material to be Filed as Exhibits
- ------------------------------------------
Exhibit A - Joint Filing Undertaking
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 12 of 12
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: July 6, 2010
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP IV, L.L.C. BLUM STRATEGIC GP IV, L.P.
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member
* * * * * * *
CUSIP NO. 19421W100 SCHEDULE 13D Page 1 of 1
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this agreement
as an exhibit to this Schedule 13D to evidence the agreement of the below-named
parties, in accordance with the rules promulgated pursuant to the Securities
Exchange Act of 1934, to file this Schedule jointly on behalf of each such
party.
Dated: July 6, 2010
RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P.
By: Richard C. Blum & Associates, Inc.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Partner, Chief Operating Officer, Partner, Chief Operating Officer,
General Counsel and Secretary General Counsel and Secretary
BLUM STRATEGIC GP IV, L.L.C. BLUM STRATEGIC GP IV, L.P.
By: Blum Strategic GP IV, L.L.C.
its General Partner
By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan
------------------------------- ----------------------------------
Gregory D. Hitchan Gregory D. Hitchan
Managing Member Managing Member