MWI Acquires Assets of Prescription Containers
MWI Veterinary Supply, Inc. ("MWI" or "the Company") (NASDAQ: MWIV) announced today that it has completed the acquisition of substantially all of the assets of Prescription Containers Inc. ("PCI Animal Health") for approximately $17 million. The transaction is expected to be slightly accretive to MWI in the fiscal year ending September 30, 2013 after giving effect to acquisition-related expenses and integration costs. Founded in 1957, PCI Animal Health is a distributor of companion animal health products to over 2,000 veterinary practices, primarily in the Northeastern United States. PCI Animal Health had total revenues of approximately $33 million for its calendar year ended December 31, 2012. Jim Cleary, President and Chief Executive Officer of MWI, commented, "MWI is very pleased to welcome PCI Animal Health to our team. We are especially excited to continue the relationships with their customers and provide them with the broad product portfolio and value-added services that we offer." Robert Zeide, President and CEO of PCI Animal Health, who will become a consultant with MWI, added, "We are very proud of the business that we have built here at PCI Animal Health and I am thrilled that we are now becoming part of MWI. We are excited that our customers will have access to MWI's complete line of products and services and believe that they will benefit from these enhancements." MWI is a leading distributor of animal health products to veterinarians across the United States of America and United Kingdom. Products MWI sells include pharmaceuticals, vaccines, parasiticides, diagnostics, capital equipment, supplies, veterinary pet food and nutritional products. We market these products to veterinarians in both the companion animal and production animal markets. For more information about MWI, please visit our website at www.mwivet.com.
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