WESTLAKE, Texas, Oct. 16, 2007 (PRIME NEWSWIRE) -- Animal Health International, Inc. (Nasdaq:AHII) announced today that it has acquired Kane Veterinary Supplies, Ltd. for approximately $24 million in cash, together with a performance-based earn out.
"We have discussed the combination of Kane Vet with AHI's Canadian operations with both Pat and Tim Kane for some time now," said Jim Robison, AHI's CEO. "We believe that Kane Vet is one of the premier companies in our industry, and are excited to announce that the Kane Vet team has joined the AHI family of companies."
About Kane Veterinary Supplies, Ltd.:
Kane Veterinary Supplies, Ltd. is a leading distributor of animal health products in Canada, with over $45 million in revenue for its fiscal year ended July 31, 2007. Kane Veterinary Supplies distributes animal health products, pet foods, pet supplies and general farm hardware to over 4,000 customers, including veterinarians, dealers, retailers, and production animal buying groups. Based in Edmonton, Canada, the company was founded in 1969, and has over 100 employees with 15 full time sales representatives.
About Animal Health International, Inc.:
Animal Heath International, Inc. is a leading distributor of animal health products in the United States. The Company distributes more than 40,000 products sourced from over 1,500 manufacturers to over 62,000 customers, including veterinarians, production animal operators, and animal health product retailers. Products the company distributes include pharmaceuticals, vaccines, parasiticides, diagnostics, capital equipment, sanitizers, devices and supplies. The company was founded in 1954 and has a central replenishment and distribution facility in Memphis, Tennessee, distribution centers throughout the United States and Canada, and its corporate headquarters located in Westlake, Texas.
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