Henry Schein (HSIC) Takes 50% Stake in Romanian Distributor Maravet

Henry Schein (NASDAQ: HSIC) announced that it has made a 50 percent ownership investment in Maravet, a leading animal health distributor in Romania. The transaction closed in the second quarter of 2015. Financial terms of the transaction were not disclosed.

Headquartered in Baia Mare, Romania, Maravet is a privately-held company with annual sales of approximately $23 million and 89 team members. The company was founded in 1998 by the Korponay family, which retains a 50 percent ownership position in Maravet. Mr. Ferenc Korponay, a veterinarian by training, is continuing as the company's Managing Director.

"We are delighted to enter Romania with a market-leading company that shares Henry Schein's commitment to serving the veterinary community with excellence," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Maravet also enjoys strong relationships with its valued supplier partners, and we welcome the opportunity to build on this firm foundation as we continue to grow our business in Eastern Europe."

Henry Schein's investment in Maravet adds to its Eastern European presence. In 2013, the Company acquired Poland's Medivet, a transaction that built upon Henry Schein's existing animal health business in the Czech Republic, which was established in 2009.

"We look forward to the many opportunities our new partnership with Henry Schein will bring to the Maravet team, our supplier partners, and the veterinary professionals we serve," said Mr. Korponay. "Henry Schein's dedication to the veterinary community is clearly evidenced by the value it brings to animal health practitioners across Europe, North America and Australasia, and we look forward to leveraging its global resources for the benefit of animal health practitioners in Romania."

With the addition of Maravet, Henry Schein Animal Health serves customers in 14 European countries: Austria, Belgium, the Czech Republic, France, Germany, Ireland, Italy, Netherlands, Poland, Portugal, Romania, Spain, Switzerland and the United Kingdom. The Company also has Animal Health businesses in the United States, Australia, New Zealand, Canada and Malaysia. In 2014, Henry Schein's global Animal Health business had sales of approximately $2.9 billion.

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