Patterson Closes Acquisition of Dairy Tech

Rhea-AI Summary

Patterson Companies, Inc. (Nasdaq: PDCO) has completed the acquisition of substantially all assets of Dairy Tech, Inc. This strategic move aims to enhance Patterson Animal Health’s offerings and integrate Dairy Tech’s employees into the team. Steve Cunningham, president of Patterson’s Production Animal segment, expressed enthusiasm about the acquisition and its potential to maintain exceptional customer service for Dairy Tech’s clients. Financial terms of the deal were not disclosed.

Positive

• Acquisition of Dairy Tech enhances Patterson Animal Health's product offerings.
• Integration of Dairy Tech employees may foster operational synergies.
• Maintains Dairy Tech's commercial presence while strengthening brand reputation.

Negative

• None.

Transaction Expands Patterson Animal Health’s Suite of Offerings

ST. PAUL, Minn.--(BUSINESS WIRE)-- Patterson Companies, Inc. (Nasdaq: PDCO), announced that it has, through a subsidiary, closed the previously announced acquisition of substantially all of the assets of Dairy Tech, Inc.

The acquired business will maintain its current commercial presence, with integration of Dairy Tech employees into the Patterson Animal Health team.

“We are thrilled to have completed this acquisition, and excited to bring Dairy Tech’s strong brand, product lines, and highly talented team members into Patterson, and continuing to provide exceptional customer service to Dairy Tech’s customers,” said Steve Cunningham, president of Patterson’s Production Animal segment. “We welcome our new colleagues to the Patterson team and look forward to building upon Dairy Tech’s strong reputation moving forward.”

Terms of the transaction were not disclosed.

About Patterson Companies Inc.

Patterson Companies Inc. (Nasdaq: PDCO) connects dental and animal health customers in North America and the U.K. to the latest products, technologies, services and innovative business solutions that enable operational and professional success. Our comprehensive portfolio, distribution network and supply chain are equaled only by our dedicated, knowledgeable people who deliver unrivaled expertise and unmatched customer service and support.

Learn more: pattersoncompanies.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20221212005785/en/

Corporate Communications

TEL: 651.905.3349

EMAIL: corporate.communications@pattersoncompanies.com

WEB: pattersoncompanies.com

Source: Patterson Companies Inc.

FAQ

What assets did Patterson Companies acquire from Dairy Tech?

Patterson Companies acquired substantially all the assets of Dairy Tech, Inc.

What is the purpose of Patterson's acquisition of Dairy Tech?

The acquisition aims to enhance Patterson Animal Health's suite of offerings and customer service.

Did Patterson Companies disclose the financial terms of the Dairy Tech acquisition?

No, the financial terms of the transaction were not disclosed.

How will the acquisition of Dairy Tech impact Patterson's operations?

The acquisition is expected to integrate Dairy Tech employees and strengthen Patterson's market offerings.