<PAGE>1
United States
Securities & Exchange Commission
Washington, DC 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): July 22, 1998
---------------
VWR SCIENTIFIC PRODUCTS CORPORATION
- ------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Pennsylvania 91-1319190
- ------------------------------------------------------------------------
(State of Incorporation) (I.R.S. Employer Identification No.)
0-14139
-------------------
Commission File No.
1310 Goshen Parkway, West Chester, PA 19380
- ------------------------------------------------------------------------
(Address of principal executive offices) (zip code)
Registrant's telephone number (610-431-1700)
--------------
- ------------------------------------------------------------------------
(Former name, address, and fiscal year if changed since last report)
<PAGE> 2
INFORMATION TO BE INCLUDED IN THIS REPORT
ITEMS 1, 2, 3, 4, 6, 8, and 9 are not applicable and are omitted from
this report.
ITEM 5. OTHER EVENTS
On July 22, 1998 VWR Scientific Products Corporation announced the
signing of a definitive agreement to acquire the Science Kit Group of
Companies. The Science Kit Group is a privately-held, leading supplier
of science education products to school systems and educational
institutions in the United States and Canada. The transaction is subject
to governmental review under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976.
The Science Kit Group of Companies is comprised of four autonomously
operated companies: Science Kit Inc., Boreal Laboratories, Ltd., Wards
Natural Science Establishment, Inc., and Central Scientific Company. The
Science Kit Group operates in the United States and Canada and supplies
products to elementary, middle, and high schools, as well as 2-4 year
colleges.
Incorporated by reference to this Form 8-K and filed as an exhibit
hereto is the press release issued by VWR Scientific Products
Corporation, dated July 22, 1998, related to the transaction which is
the subject of this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description
99 Press Release dated July 22, 1998
SIGNATURES
- ----------
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
VWR SCIENTIFIC PRODUCTS CORPORATION
By /s/ David M. Bronson
---------------------
DAVID M. BRONSON
SENIOR VICE PRESIDENT FINANCE,
CHIEF FINANCIAL OFFICER AND SECRETARY
[DESCRIPTION] Press Release dated July 22, 1998
<PAGE> 1
FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION CONTACT:
Jerrold B. Harris, President and CEO Fred Spar
David M. Bronson, CFO Josh Rosen
VWR Scientific Products Corporation Kekst and Company
(610) 429-2750 (212) 521-4800
VWR SCIENTIFIC PRODUCTS TO PURCHASE
THE SCIENCE KIT GROUP OF COMPANIES
--Leading Supplier of Science Education Products to
School Systems and Educational Institutions in the US and Canada--
WEST CHESTER, Pa. (July 22, 1998) VWR Scientific Products Corporation
(NASDAQ:VWRX) announced today that it has signed a definitive agreement to
acquire the Science Kit Group of Companies. The Science Kit Group is a
privately-held, leading supplier of science education products to school
systems and educational institutions in the United States and Canada. 1998
sales of the Science Kit Group are expected to be in excess of $70 million.
Terms of the purchase were not disclosed.
The Science Kit Group of Companies is comprised of four autonomously operated
companies: Science Kit Inc., Boreal Laboratories, Ltd., Wards Natural Science
Establishment, Inc., and Central Scientific Company. Each company has a well-
defined market emphasis (physics, biology, geology, and chemistry) and strong
marketing identities. The Science Kit Group operates in the United States and
Canada and supplies products to elementary, middle, and high schools, as well
as 2-4 year colleges.
The science education business is one that we are very familiar with, having
entered the market in 1989 with the acquisition of the Sargent Welch Company,
said Jerrold B. Harris, President and Chief Executive Officer of VWR
Scientific Products. Combining with the Science Kit Group builds on one of
the most profitable segments of our business and greatly expands our product
offerings in the biology, earth science and geology areas. This acquisition
will grow our education business from approximately 3% of sales to about 8% of
sales.
One of the main indicators of future growth in the education business is the
number of children entering school systems. These demographics have been very
strong since 1994 and are predicted to remain strong through 2006.
The Science Kit Group of Companies is an excellent organization with an
outstanding operating team, a team which will remain with VWR Scientific
Products following completion of the acquisition. We expect to realize
significant benefits from this acquisition and believe that it will be
accretive to 1998 earnings.
The transaction, which has been approved by the Boards of Directors of both
companies and is expected to close during July or August of 1998, is subject
to governmental review under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976.
VWR Scientific Products Corporation, headquartered in West Chester, PA, is one
of the nations largest distributors of laboratory supplies, chemicals and
equipment with annual sales exceeding $1 billion.
