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.