US based international health care company Henry Schein Inc has completed its acquisition of about a 60% ownership position in SmartPak, a leading provider of equine supplements and horse supplies in the United States.
Henry Schein, Inc, the world’s largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced yesterday that its US Animal Health business, Henry Schein Animal Health, has completed its transaction for Smartpak, which was first announced on May 22.
SmartPak had sales in 2013 of about $105 million. Private equity firm Oak Hill Capital Partners and SmartPak’s existing management team will own SmartPak’s remaining equity.
“SmartPak is a highly regarded, fast-growing company that nicely complements our existing US animal health business, and we are delighted to have completed this transaction,” said Stanley M. Bergman, Chairman of the Board and CEO 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 US 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 abouty $2.6 billion.
SmartPak was founded in 1999 with the introduction of the patented SmartPak supplement feeding system, which provides custom-made daily supplement doses for horses, individually labeled and sealed.
It also has its own line of more than 55 supplement formulas called SmartSupplements, and a wide variety of tack, equipment, and supplies, and is the largest retailer of equestrian products in the United States.