Kruuse has announced that it has entered into an agreement with Henry Schein Inc., under which the American supplier of veterinary, dental and medical healthcare products and services will acquire a majority shareholding in the company.
Under the agreement - the financial details of which are not being disclosed - the Kruuse family will retain the remaining shareholding and work with Henry Schein to accelerate global expansion of the company.
Kruuse and Henry Schein have already been business partners in the marketing and distribution of animal healthcare products. Kruuse says it expects the deal to create significant growth prospects, particularly for its own products and brands which will in the future be included in Henry Schein's offering to its animal health customers.
Chairman of the Board of Kruuse, Peter Eriksen Jensen said: "We are very pleased with the agreement with Henry Schein, which fulfills our wish to find a strong investor to support our efforts of creating an attractive future for our company. We complement each other extremely well - and the partnership provides us with a much broader platform to market our products. In Henry Schein, we will get an ideal partner to realize our ambitious growth strategy."
Kruuse's CEO, Jesper Smith said: "It is very important to us, that we and our new owner have a mutual understanding of the values and customer-centric focus on quality and services which have guided us throughout Kruuse's 119 years' history. We will continue this approach under our new ownership, making sure that our employees, customers, and suppliers continue to experience all the benefits of Kruuse - now in an even stronger set-up and with new, exciting prospects for the future."