Covetrus and MWI Animal Health plan $3.5 billion merger 

The veterinary distribution landscape is on the brink of another significant shift as Covetrus and MWI Animal Health move forward with plans to merge in a deal valued at roughly $3.5 billion. 

In February in a joint release, the companies announced the merger would combine MWI’s large-scale distribution with Covetrus’ technology platforms and practice services, creating a single organization which would cover product distribution, software, pharmacy services, and supply chain support.  

Under the proposed deal, Cencora, the parent company of MWI’s current, would receive a combination of cash and ownership in the new company, including $1.25 billion upfront and stock that would give Cencora a 34.3% stake in the combined business. According to the release, the move would allow Cencora to focus more on its core business of distributing medications for people while keeping a foothold in the animal health market. 

The deal still needs regulatory approval and must meet other standard requirements before it can be finalized. According to the release, company officials add the merger likely won’t close before the end of Cencora’s fiscal year on September 30, 2026. 

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