Patterson Companies To Buy Dairy Tech; Financial Terms Not Disclosed

(RTTNews) - Patterson Companies Inc. (PDCO), a provider of dental and animal health products, announced Monday that it has signed an agreement to acquire substantially all assets of privately held Dairy Tech, Inc. The financial terms of the deal were not disclosed.

Patterson expects to close the transaction during its third fiscal quarter of fiscal 2023. Following the deal, Dairy Tech employees will be integrated into the Patterson Animal Health team.

Colorado-based Dairy Tech provides pasteurizing equipment and single-use bags that allow dairy producers to produce, store and feed colostrum for newborn calves, as well as product offerings for beef cattle producers.

Upon closing, the acquisition will expand Patterson Animal Health's value-add platform by adding these products and solutions to their suite of offerings.

According to Kevin Pohlman, president of Patterson Animal Health, Dairy Tech's colostrum management offerings, strong brand reputation and international presence and capabilities are very attractive to Patterson Animal Health.