At Henry Schein, we are always looking to partner with businesses that can help us better serve the needs of our dental, medical and veterinary customers, expand our global business presence, and provide a platform that will allow our partners to grow their businesses. In the summer of 2015, we completed the purchase of a majority interest in Jorgen Kruuse A/S (KRUUSE), a Langeskov, Denmark-based company that is a leading distributor of veterinary supplies in the Nordic countries and a growing international provider of veterinary products and services.
Partnering with KRUUSE was an easy decision to make, considering its long history of strong performance, the deep loyalty and satisfaction of its customers, and its reputation for quality products and strong brand awareness. The company’s products embody classic Danish design principles of beauty, simplicity, effectiveness, while helping veterinarians provide high-quality care for their patients since 1896. That kind of staying power is rare and is a testament to the Kruuse family and the strong leadership team that was, and remains, in place.
Most importantly, as a family-owned company, we knew that we were partnering with an organization led by people who took great pride in their work. KRUUSE had been led by Peer Kruuse and his wife, Karen, since 1953. In 2010 they brought in a very experienced and equally committed Danish businessman, Peter Eriksen, to supplement the family’s expertise and to lead the company into the next decade. After Peer’s death in 2014, Karen and their son, Mads, put their trust in Henry Schein to continue the legacy their family built, and with the continuing guidance and support of Peter as Vice Chairman, we continue to uphold the virtues extolled by Peer and his family.
The Danish business climate is supportive of business enterprises and its laws and regulations governing acquisitions made it relatively easy for us to quickly commit to a mutually acceptable partnership structure, conduct our due diligence reviews, and negotiate the necessary agreements. And importantly, as we prefer to partner with founder entrepreneurs and their families, the Danish system was quite conducive to implementing our partnership structure and process. We remain partners with the Kruuse family today.
We believe that our positive experience working within the Danish business climate is not unique, and would recommend it to people and organizations interested in doing business with a well-educated, hard-working, productive, and cooperative work force with excellent language skills and a well-developed global perspective.
The general stability and consistency of the Danish political, legal, and regulatory systems and the stability of the Danish economy and currency remove a long list of risks and enable management to focus on core business topics like enhancing growth and profitability.
Stanley M. Bergman is the Chairman of the Board and Chief Executive Officer at Henry Schein, Inc.