SOURCE: MWI Veterinary Supply

October 05, 2007 16:30 ET

MWI Acquires Assets of Tri V Services, Inc.

MERIDIAN, ID--(Marketwire - October 5, 2007) - MWI Veterinary Supply, Inc. ("MWI" or "the Company") (NASDAQ: MWIV) announced today that it had completed the acquisition of substantially all of the assets of Tri V Services, Inc. ("Tri V") for approximately $5 million consisting of $4.5 million in cash and 12,692 shares of restricted common stock.

Based near Detroit, MI, Tri V is a distributor with an 11-year history of providing animal health products to approximately 850 veterinary practices, with a particular focus on emergency clinics and ophthalmology specialists. Tri V had total revenues of approximately $8 million for its fiscal year ended December 31, 2006.

Jim Cleary, President and Chief Executive Officer of MWI, commented: "Excellent service and innovative thinking have made Tri V successful in veterinary distribution. We're delighted to have the talented members of Tri V join MWI, and we are dedicated to providing continuous, high-level service to Tri V's customers."

MWI is a distributor of animal health products to veterinarians across the United States of America. 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. For investor relations information please contact Mary Pat Thompson, Senior Vice President of Finance and Administration and Chief Financial Officer, at (208) 955-8930 or email investorrelations@mwivet.com.

Certain statements contained herein that are not descriptions of historical facts are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. Many of the factors that will determine the Company's future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Important assumptions and other important factors that could cause actual results to differ materially from those set forth in the forward-looking information include vendor rebates based upon attaining certain growth goals; changes in the way vendors introduce products to market; the recall of a significant product by one of the Company's vendors; seasonality; the impact of general economic trends on the Company's business; the timing and effectiveness of marketing programs offered by the Company's vendors; the timing of the introduction of new products and services by the Company's vendors; regulatory matters; and competition. These other factors include changes in the rate of inflation; changes in state or federal legislation or regulation; the continued safety of the products the Company sells; and changes in the general economy.

Contact Information

  • Contact:
    Mary Pat Thompson
    Senior Vice President of Finance and Administration and Chief Financial
    Officer
    (208) 955-8930
    Email Contact