Patterson Companies Sold

(PATTERSON TECHNOLOGY'S EFFINGHAM LOCATION PRIOR TO THE BUILDING'S ACQUISITION BY LAKE LAND COLLEGE IN 2023)

Patterson Companies, with a location in Effingham, has announced it has entered into a definitive agreement to be acquired by Patient Square Capital.

Under the terms of the agreement, Patterson shareholders will receive $31.35 in cash per share. The transaction is expected to close in the fourth quarter of Patterson's fiscal 2025.

Patterson Companies is a leading dental and animal health distributor. Patterson sold its Effingham facility to Lake Land College in April 2023. At the time of the transaction, Patterson and Lake Land were to use portions of the building along with the Effingham Regional Career Academy.

Patterson Companies still has a number of employees in the Effingham area, although many of those have worked remotely since the pandemic. We have a call into Patterson on the impact, if any, of the sale on local operations.