ST. PAUL, Minn.--(BUSINESS WIRE)--Patterson Companies, Inc. (Nasdaq: PDCO) today announced that the company has agreed to acquire Holt Dental Supply, Inc., a regional dental supply company located near Milwaukee, Wisconsin. Holt Dental serves dental practices in Wisconsin, Illinois, Minnesota, Missouri, Michigan and Indiana. The acquisition will help accelerate Patterson Dental’s local reach and deepen its Midwest influence.
"We are delighted to welcome Holt Dental to Patterson Companies,” said Paul Guggenheim, president of Patterson Dental. “Holt Dental has a long-standing and exceptional reputation in the markets it serves, and maintains a culture much like ours, focused on accountability, integrity and exceptional customer service.”
Holt Dental’s sales were approximately $15 million in 2013, and the transaction is expected to be modestly accretive in its first year. Paul Holt has led his organization for 16 years and brings significant industry expertise in leading Holt Dental’s group of 40 employees. He and the Holt Dental staff will join Patterson Dental, with Paul Holt becoming a district manager. No additional terms of the transaction were disclosed.
About Patterson Companies, Inc.
Patterson Companies, Inc. is
a value-added distributor serving the dental, companion-pet veterinarian
and rehabilitation supply markets.
Dental
Market
As Patterson’s largest business, Patterson Dental
provides a virtually complete range of consumable dental products,
equipment and software, turnkey digital solutions and value-added
services to dentists and dental laboratories throughout North America.
Veterinary
Market
Patterson Veterinary is a leading distributor in the
U.S. and U.K. of consumable veterinary supplies, equipment and software,
diagnostic products, vaccines and pharmaceuticals predominantly to
companion-pet veterinary clinics.
Rehabilitation
Market
Patterson Medical is the world’s leading distributor
of rehabilitation supplies and non-wheelchair assistive patient products
to the physical and occupational therapy markets. The unit’s global
customer base includes hospitals, long-term care facilities, clinics and
dealers.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company’s ability to control. Any statements made in this press release about the Company’s future financial conditions, results of operations, expectations, plans, or prospects, including the information under the heading “Business Outlook”, constitute forward-looking statements. Forward-looking statements also include those preceded or followed by the words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," “projects,” “should,” "targets" and/or similar expressions. These forward-looking statements are based on the Company’s current estimates and assumptions and, as such, involve uncertainty and risk. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those contemplated by the forward-looking statements because of a number of factors, including the factors described in Item 1A of the Company’s most recent Annual Report on Form 10-K, which factors are incorporated herein by reference. Any forward-looking statement in this release speaks only as of the date in which it is made. Except to the extent required under the federal securities laws, the Company does not intend to update or revise the forward-looking statements.
