Henry Schein will acquire a 90% interest in Dental Trey, an Italian distributor of dental consumables. Members of Dental Trey’s founding family will own the remaining 10%. Henry Schein expects the deal to close in the fourth quarter of 2015.
“We have long been impressed with Dental Trey’s excellent market reputation, broad product offering, and commitment to longstanding customer relationships,” said Stanley M. Bergman, chairman of the board and CEO 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,” said Bergman. “We look forward to welcoming the more than 200 team members of Dental Trey to Henry Schein.”
Dental Trey enjoyed about 41 million in sales, or approximately $49 million, for the 12 months ending June 30, 2015. In 2014, Henry Schein’s global dental business had sales of approximately $5.4 billion. Henry Schein expects the acquisition to be neutral to its 2016 diluted earnings per share and slightly accretive by less than $0.01 thereafter.
Founded in 1981, Dental Trey offers more than 33,000 branded products as well as a line of private-label products to dental practices across Italy through its sales force and e-commerce web portal. Also, Dental Trey’s proprietary dental practice management software system has an installed base of more than 1,100 dental offices.
Silvia Coli will be managing director of Dental Trey, and Roberta Coli will serve on its board of directors. Both are members of the company’s founding family. Dental Trey will 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.
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