MWI Completes Acquisition of Assets of IVESCO Holdings LLC

BOISE, ID--(Marketwired - Nov 1, 2013) - MWI Veterinary Supply, Inc. ("MWI" or "the Company") (NASDAQ: MWIV) announced today that it has completed its previously announced acquisition of substantially all of the assets of IVESCO Holdings LLC ("IVESCO") for an enterprise value of $67.5 million, plus a closing net working capital adjustment of $11.2 million. The total acquisition price represents a small premium over the net tangible assets acquired by MWI. This transaction is subject to a final post-closing working capital adjustment. The cash purchase price was funded with borrowings by the Company under its existing credit agreement.

MWI will announce fiscal year 2013 results on November 7, 2013. Net income and earnings per share for the quarter ended September 30, 2013 will include the effect of approximately $1.0 million of pretax acquisition-related expenses. MWI expects the annual revenues from IVESCO to be approximately $400 million, and MWI will own the IVESCO business for eleven months during fiscal 2014. The transaction is expected to be slightly accretive to MWI during the eleven months of ownership in the fiscal year ending September 30, 2014, after giving effect to acquisition-related expenses and integration costs.

Founded in 1945, IVESCO is a leading value-added distributor of animal health products in the United States. IVESCO services mixed animal practice veterinarians, food animal producers and dealers. Headquartered in Springdale, Arkansas, IVESCO has a broad selection of inventoried products that include more than 25,000 discrete offerings sourced from over 500 manufacturers and serves customers across its business units (mixed animal practice veterinarians, swine integrators, dealers, poultry integrators, and cattle).

MWI is a leading distributor of animal health products across the United States of America and United Kingdom. MWI sells both companion animal and production animal products including pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, supplies, pet food, capital equipment and nutritional products. MWI also is a leading innovator and provider of value-added services and technologies used by veterinarians and producers. 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 [phone] or email [e-mail].