Patterson Companies, Inc. has announced the acquisition of Accu-Bite, Inc., a Michigan-based dental distributor with approximately 60 sales representatives working out of branch offices in Arizona, California, Florida, Georgia, Illinois, Kentucky, Michigan, Minnesota, Nevada, Ohio, and Virginia.
Accu-Bite is expected to contribute revenues in excess of $50 million on an annualized basis. This operation also is forecasted to have a neutral impact on Patterson's consolidated profitability over the balance of fiscal 2006 and be accretive during its first full year as part of Patterson Dental.
Accu-Bite's branch offices and field sales representatives, equipment sales representatives, and service technicians will be merged into existing Patterson Dental branch offices. Patterson expects to maintain Accu-Bite's distribution center in Michigan and incorporate it into Patterson Dental's distribution system.
Scott R. Kabbes, president of Patterson Dental, commented: "The addition of Accu-Bite's sales force is expected to strengthen our penetration and competitive position in a variety of key markets around the nation. This acquisition also presents us with significant cross-selling opportunities by expanding the range of products and services available to Accu-Bite's customers. We are very pleased that Accu-Bite chose to combine their operations with ours, and we are excited about the opportunities for the combined company."
Begun in 1978 as a specialty manufacturer of dental products by Dr. William J. Costello, Accu-Bite evolved into a full-service dental distributor that has grown rapidly over the past decade. Today, Accu-Bite ranks as one of the top ten dental distributors in the U.S.
