Henry Schein Acquires Stake in Brazil-Based Animal Care Product Distributor ABASE.
10 January 2018 - New York, US-based animal health care products and services provider Henry Schein, Inc. (NASDAQ: HSIC) has acquired a 60% ownership stake in Brazil-based veterinary health care products distributor ABASE, the company said.
Financial terms were not disclosed. Henry Schein expects the transaction to be neutral to its 2018 earnings per share and to be accretive thereafter.
ABASE founder Edison Baba will retain a minority ownership position and continue to lead the business as a managing director. The company has approximately 90 employees, including a sales staff of more than 45 team members, and operates a centralised distribution centre in Jaguariuna, Brazil.
ABASE said in combining its resources with Henry Schein, it will provide a broader array of products, value-added services and technology solutions.
Henry Schein's global animal health business had 2016 net sales of USD 3.3bn and has operations or affiliates in 24 countries including the United States, Australia, New Zealand, Brazil, Canada, China, Malaysia and 17 countries in Europe.
The company supports animal health practitioners through the distribution of biologics, pharmaceuticals, supplies and equipment, and by actively engaging in the development, sale and distribution of veterinary practice management software.
ABASE has a strong presence in Brazil's Campinas region in the state of Sao Paulo and sells pharmaceuticals, pet food, diagnostic equipment and consumables primarily to the companion animal, swine, poultry and bovine segments. ABASE had 2017 revenues of approximately USD 27m.
Target: ABASE/60% stake
Buyer: Henry Schein, Inc
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
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|Publication:||M & A Navigator|
|Date:||Jan 10, 2018|
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