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KKR Investment and Accelerated Share Repurchase Program
9 Months Ended
Sep. 27, 2025
KKR Investment and Accelerated Share Repurchase Program [Abstract]  
KKR Investment and Accelerated Share Repurchase Program
Note 18 – KKR Investment and Accelerated Share Repurchase Program
On January 29, 2025, Henry Schein, Inc. announced a strategic investment
 
by funds affiliated with KKR, a leading
global investment firm, and entered into a Strategic Partnership Agreement
 
with KKR (the “Agreement”).
 
On May
16, 2025, we issued
3,285,151
 
shares of common stock to funds affiliated with KKR for an investment of $
250
million, at approximately $
76.10
 
per share.
 
Combined with KKR’s previous holdings, funds affiliated with KKR
currently own approximately
14.5
% of the Company’s common stock.
 
KKR also has the ability to purchase
additional shares via open market purchases up to a total equity stake of
14.9
% of the outstanding shares of
common stock of the Company.
 
In addition, under the Agreement,
two
 
independent directors have joined our
Board of Directors.
On May 19, 2025, we executed an accelerated share repurchase program
 
to repurchase a total of $
250
 
million of
our outstanding common stock based on volume-weighted average prices.
 
In May 2025 we received
3,122,832
shares at an estimated fair value of $
224
 
million.
 
In July 2025, we received an additional
368,651
 
shares at an
estimated fair value of $
26
 
million, representing the final amount of shares to be received under
 
this accelerated
share repurchase program.
On November 4, 2025, the Company and KKR entered into an amendment
 
to the Agreement that increased the
beneficial ownership limit from
14.9
% to
19.9
% of the outstanding shares of the Company’s common stock that
KKR is permitted to acquire during the standstill period.
 
The standstill provisions, including the increased
ownership limit, continue in effect for a period of six months following the later
 
of the expiration of the term of the
Agreement and the date on which no KKR director appointed pursuant
 
to the Agreement is serving on the Board of
Directors.