Henry Schein is going to Denmark.
The Meville-based healthcare products distributor announced Tuesday it is acquiring a majority share of Jorgen Kruuse A/S, Scandinavia’s largest veterinary products distributor. Financial terms of the deal were not disclosed, by Henry Schein said it would acquire 85 percent of the company, which reported $90 million in 2014 sales.
The Kruuse family will hold onto a 15 percent stake.
The deal is expected to close in the third quarter of this year and is the latest international animal-health acquisition for Henry Schein, following recent majority stakes in Germany’s Scil Animal Care Co. (January) and U.S. equine-supplement manufacturer SmartPak (May 2014), and 50-percent ownership of Romanian animal-health distributor Maravet (April). The Melville firm now has operations or affiliates in 33 countries, with animal-health operations in 23 countries.
Henry Schein plans to expand the reach of Kruuse’s proprietary pet products across Europe, Australia, New Zealand and North America, the company said in a release announcing the acquisition. Chairman and Chief Executive Office Stanley Bergman noted Kruuse, founded in 1896, has “a reputation for quality products and strong brand awareness.”
“Our animal-health business continues to thrive while gaining market share through a combination of solid organic growth and strategic transactions,” Bergman said in the release.
Most of Kruuse’s 250 employees will join the Henry Schein team, including Jesper Smith, who has been CEO of Kruuse since 2009 and will continue to oversee the Danish company’s operations.
“Combining Kruuse with Henry Schein Animal Health is an important component of our strategic plan for geographic expansion, brand development and revenue growth,” Smith said in a written statement.
Henry Schein, self-billed as “the world’s largest provider of healthcare products and services to office-based dental, animal health and medical practitioners,” is Long Island’s largest public company by revenues. The Fortune 500 firm, a member of the S&P 500 and Nasdaq 100 stock indexes, posted $10.4 billion in global sales in 2014, including $2.9 billion in global sales of animal-health-related products.