Henry Schein Inc, Melville, NY, announced that it will acquire a 90% ownership interest in Dental Trey, a leading distributor of dental consumable merchandise and equipment in Italy. Dental Trey had sales for the 12 months ending June 30, 2015 of approximately $49 million.
The remaining 10% interest in Dental Trey will continue to be owned by members of the company’s founding family. Henry Schein expects the transaction to close in the fourth quarter of 2015, and for the acquisition to be neutral to its 2016 diluted earnings per share and slightly accretive by less than $0.01 thereafter. Additional financial details and terms of the transaction were not disclosed.
Dental Trey was founded in 1981 and has headquarters, a distribution center, and a showroom in Fiumana di Predappio (Forli), Italy. The company offers more than 33,000 branded products and a line of private-label products to dental practices across Italy through a dedicated sales force and an e-commerce web portal. Dental Trey also offers a proprietary dental practice management software system with an installed base of more than 1,100 dental offices.
“Henry Schein has enjoyed a successful business in Italy for more than a decade. We have long been impressed with Dental Trey’s excellent market reputation, broad product offering, and commitment to forging long-standing customer relationships,” said Stanley M. Bergman, chairman of the board and chief executive officer of Henry Schein. “Dental Trey also shares Henry Schein’s commitment to dental education and has been a strong supporter of scientific associations working to enhance the dental profession. We look forward to welcoming the more than 200 team members of Dental Trey to Team Schein.”
Two members of the Dental Trey founding family will continue to lead the business: Silvia Coli will manage Dental Trey as Managing Director, and Roberta Coli will serve on the Dental Trey Board of Directors. Dental Trey will continue to serve its customers separately from Henry Schein Krugg, Henry Schein’s existing business in Italy.
“Joining Henry Schein is an important strategic decision that supports our growth aspirations, while also ensuring our customers remain the focus of all that we do,” said Silvia Coli. “We look forward to exchanging best practices with Henry Schein and becoming an even more valuable partner to dentists in Italy, with an enhanced offering of products and services to help practitioners operate efficient practices and deliver quality dental care.”