MELVILLE (dpa-AFX) - Henry Schein, Inc. (HSIC) announced that it will acquire 85 percent of Jorgen Kruuse A/S or KRUUSE, a leading distributor of veterinary supplies in the Nordic countries and a growing international provider of veterinary products and services. The remaining 15 percent of KRUUSE will be retained by the Kruuse family.
KRUUSE had sales in 2014 of approximately $90 million, and will extend Henry Schein's geographic presence to Denmark, Norway and Sweden.
The company said it expects the transaction to close in the third quarter of 2015, and for the acquisition to be neutral to its earnings per share from the date of closing through the end of 2015 and accretive thereafter. Additional financial details of the transaction were not disclosed.
Through the acquisition of KRUUSE, Henry Schein's animal health business will expand to 23 countries, including the United States, Australia, New Zealand, Canada, China, Malaysia and 17 countries in Europe. In 2014, Henry Schein's Global Animal Health business had sales of approximately $2.9 billion.
Jesper Smith, who has served as Chief Executive Officer of KRUUSE since 2009, will join Henry Schein with continued responsibility for the KRUUSE business, the company stated.
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