Henry Schein buys majority share of Brazil’s ABASE
The purchase gives Henry Schein a firmer sales foothold in the South American nation.
Henry Schein Inc. has acquired a 60 percent ownership stake in ABASE, a Brazilian veterinary products distributor.
The transaction was announced Jan. 8. Financial terms were not disclosed.
“This ownership investment strengthens our position in Brazil’s animal health market, which we established earlier this year in the state of Rio de Janeiro with our investment in Tecnew,” said Stanley M. Bergman, Henry Schein’s chairman and CEO. “It also diversifies our relationship with global suppliers and approximately doubles our volume in Brazil.”
ABASE reported 2017 revenue of $27 million, less than 1 percent of Henry Schein’s 2016 global animal health sales of $3.3 billion. ABASE distributes drugs, pet food, diagnostic equipment and consumables to small animal and livestock veterinarians.
Henry Schein reported that ABASE founder Edison Baba will retain a minority share of the company and serve as managing director.
ABASE employs about 90 people and operates a warehouse in Jaguariuna, north of São Paulo.
Henry Schein is headquartered in Melville, New York.