Patterson Companies buys competitor, doubles in size

Mendota Heights-based Patterson Companies, a maker of dental products and veterinary supplies, is buying a competitor for $1.1 billion.

CEO Scott Anderson said acquiring Colorado-based Animal Health International will give the company a strong position in the livestock health market. Besides doubling the size of Patterson Companies, the purchase will beef up the company's pet health business, he said.

"This acquisition is clearly transformative," Anderson said. "The combination will also transform and significantly diversify the mix of revenue within Patterson veterinary."

The combined animal health operation will have annual sales of $2.7 billion in the U.S., Canada and the U.K.

Meanwhile, Anderson seeks to sell Patterson's medical business, which has annual sales of about $470 million. According to the company, the medical operations perform well but don't fit with a plan to focus on the dental and veterinary markets.

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