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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 11, 2000
SOVEREIGN SPECIALTY CHEMICALS INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
DELAWARE 333-39373 36-4176637
(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
225 W. WASHINGTON ST. - STE. 2200, CHICAGO, ILLINOIS 60606
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (312) 419-7100
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Item 2. Acquisition of Assets
On October 11, 2000, Sovereign Specialty Chemicals Inc, through its subsidiary
Mini Crown Funding Corp., purchased 100% of the common stock of Imperial
Adhesives, Inc. (Imperial), a subsidiary of NS Group, Inc. The cost of the
acquisition was $26.75 million excluding transaction costs. The purchase was
funded through a borrowing under the Company's Term A portion of its Revolving
Credit Facility. The transaction will be accounted for as a purchase. Management
is currently determining the allocation of the purchase price. A copy of the
press release is attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired
The Company will file an amended Form 8-K within 60 days to include all
required financial statements relative to the acquired business.
(b) Pro forma Financial Information
The Company will file an amended Form 8-K within 60 days to include all
required pro forma financial information relative to the acquired
business.
(c) Exhibits
Exhibit 99.1 Press Release of Sovereign Specialty Chemicals, Inc,
dated October 12, 2000, regarding its acquisition of
Imperial Adhesives, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SOVEREIGN SPECIALTY CHEMICALS, INC.
(registrant)
By: /s/ John R. Mellett
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John R. Mellett
Vice President and Chief Financial Officer
Dated: October 26, 2000