Henry Schein (HSIC) Takes Major Stake in SmartPak
Get Alerts HSIC Hot Sheet
EPS Growth %: -15.7%
Financial Fact:
Basic (in shares): 80.9M
Today's EPS Names:
ESCA, LICT, NKSH, More
Join SI Premium – FREE
Henry Schein (Nasdaq: HSIC) announced that its U.S. Animal Health business, Henry Schein Animal Health, has completed its acquisition of an approximate 60% ownership position in SmartPak, the leading provider of equine supplements and horse supplies across the United States. This transaction was first announced on May 22, 2014.
As previously reported, SmartPak had sales in 2013 of approximately $105 million. Private equity firm Oak Hill Capital Partners and SmartPak's existing management team will own SmartPak's remaining equity. Financial terms of the transaction were not disclosed. As stated when Henry Schein first announced its agreement with SmartPak, Henry Schein expects the transaction to be neutral to its earnings per share for the second half of 2014 and full-year 2015 and accretive to earnings per share in 2016 by $0.02-$0.03.
"SmartPak is a highly regarded, fast-growing company that nicely complements our existing U.S. animal health business, and we are delighted to have completed this transaction," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Henry Schein has built a position of global leadership in the animal health market, and we look forward to continued opportunities for growth with SmartPak and across our animal health platform."
In addition to its U.S. Animal Health business, Henry Schein is the leading distributor of products and services to veterinary practitioners in Australia and New Zealand, and the leading pan-European veterinary distributor. Henry Schein has European animal health operations in Austria, Belgium, the Czech Republic, France, Germany, Ireland, Poland, Portugal, Spain, Switzerland, The Netherlands, and the United Kingdom. In 2013, Henry Schein's Global Animal Health business had sales of approximately $2.6 billion.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
- Oceanfirst Financial (OCFC) Tops Q1 EPS by 3c
- New York Community Bancorp (NYCB) Appoints Craig Gifford as CFO
Create E-mail Alert Related Categories
Corporate News, Guidance, Management Comments, Mergers and AcquisitionsRelated Entities
Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!