Mergers and acquisitions
Patterson Companies Inc., Mendota Heights, completed its previously announced acquisition of Animal Health International Inc., Greeley, Colo. Patterson acquired all of Animal Health's stock for approximately $1.1 billion in cash. Patterson financed the acquisition with a $1 billion unsecured term loan and a $500 million unsecured cash flow revolving line of credit.
New Business
Mendell Inc., Lakeville, announced plans to spend $2.46 million to expand its operations in Lakeville and add 25 new jobs over the next three years. The new jobs will pay an average wage of $24.67 per hour. When Mendell meets its hiring and investment goals, the Minnesota Department of Employment and Economic Development will award Mendell $326,135 from its Job Creation Fund.
