Patterson Companies Acquires Leading, Value-Added Distributor of Companion-Pet Veterinary Products
Monday, October 06, 2008 8:04 AM
Symbols: PDCO

Patterson Companies, Inc. (Nasdaq: PDCO) today announced the acquisition by its Webster Veterinary Supply unit of Columbus Serum Company, a full service distributor of companion-pet veterinary supplies, equipment and pharmaceuticals, with sales of approximately $166 million in 2007. Serving veterinarians in the Midwest and mid-Atlantic regions, Columbus Serum will significantly strengthen Webster’s current competitive position in these markets.

The all-cash transaction is expected to be moderately accretive during Columbus Serum’s first full year as part of Patterson.

Headquartered in Columbus, Ohio, Columbus Serum has established a strong reputation for customer service and a substantial presence in its regional markets over the past 86 years. The company serves its customers through more than 60 territory sales representatives and over 50 in-house customer service representatives. Opportunities exist to leverage the distribution centers and sales offices of the combined businesses.

James W. Wiltz, Patterson’s president and chief executive officer, commented: “The acquisition of Columbus Serum marks a significant step forward in the growth and value-added development of our Webster Veterinary business. We have long said that Webster represents our platform for establishing the leading position in the nation’s companion-pet veterinary supply market. We believe the acquisition of this growing and profitable distributor is bringing this strategy to fruition.”

George L. Henriques, president of Webster Veterinary Supply, said: “In addition to bolstering our competitive position in the Midwest and mid-Atlantic markets, the acquisition of this highly respected distributor expands the range of products and services available to Columbus Serum’s customers, while creating additional opportunities for the employees of this family-owned firm founded in 1922. Columbus Serum also represents an excellent strategic fit with Webster, since both companies share a strong commitment to a value-added, full-service approach to the companion-pet veterinary supply marketplace.”

In addition, Webster announced the acquisition of Odyssey Veterinary Software LLC, an early stage developer and marketer of Diagnostic Imaging Atlas (DIA) software.


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