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.
![Attendees of Frostbike made their way through the convention Saturday at the Quality Bike Products campus in Minneapolis. ] (AARON LAVINSKY/STAR TRIBUNE) aaron.lavinsky@startribune.com Frostbike 2016 was held at the Quality Bike Products Campus on Saturday, Feb. 27, 2016 in Bloomington, Minn.](https://arc.stimg.co/startribunemedia/NH2BSHB74ND2V6GF2G2HI5X4MM.jpg?&w=252&ar=3:2&fit=crop)
