Beacon Announces Acquisition of Complete Supply

Rhea-AI Summary

Beacon's Acquisition of Complete Supply strengthens its position in the Chicago market. The acquisition allows Beacon to enhance service offerings to contractors and homebuilders in the area. Complete Supply, a respected distributor with a 37-year legacy, aligns with Beacon's values and will integrate digital solutions and a proprietary product line.

This move aims to further propel Beacon toward its growth targets while expanding its customer base and service capabilities across the metropolitan market.

Positive

• Acquisition of Complete Supply enhances Beacon's service capabilities in the Chicago market.
• Strengthens relationship with over 80,000 customers through expanded product and service offerings.
• Incorporation of digital solutions and TRI-BUILT™ products is expected to drive revenue growth.

Negative

• None.

Strengthens Market Presence and Customer Service in Chicago Metropolitan Market

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) (the “Company”) announced today that it has acquired Complete Supply, Inc. (“Complete Supply”), an independent distributor of residential roofing and exterior building supplies to contractors and homebuilders in Willowbrook, Illinois. Complete Supply has built a legacy of serving customers’ needs for residential and complementary products in the greater Chicago market. The acquisition expands Beacon’s presence in Chicago and will allow for enhanced service levels to our customers.

“We are thrilled to announce Complete Supply has joined Beacon. We believe the alignment of our values with Beacon’s will enable us to continue building upon our past successes with enhanced levels of service into the future,” commented Eric Meinke, President, Complete Supply. “The team and I look forward to continuing to serve our loyal customers, who we have built trusted relationships with over the last 37 years.”

“We are pleased to welcome Complete Supply’s employees and customers to the Beacon team,” said Jake Gosa, Beacon’s President, North Division. “Expanding our depth of service in the Chicago market will bring Complete Supply customers the opportunity to benefit from our digital solutions, TRI-BUILT™ product line and the Beacon OTC^® network. With this acquisition, we continue to expand our footprint and drive toward achieving our Ambition 2025 growth targets.”

Forward-Looking Statements

This press release contains information about management’s view of Beacon’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe", "will likely result", "outlook", "project" and other words and expressions of similar meaning. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of Beacon’s latest Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Beacon’s views as of the date of this press release and these views could change. However, while Beacon may elect to update these forward-looking statements at some point, Beacon specifically disclaims any obligation to do so, other than as required by applicable law. These forward-looking statements should not be relied upon as representing Beacon’s views as of any date subsequent to the date of this press release.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of roofing materials and complementary building products in North America, operating over 400 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 80,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT™, and has a proprietary digital account management suite, Beacon PRO+, which helps customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005171/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets and Treasurer

Binit.Sanghvi@becn.com

972-369-8005



MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

Jennifer.Lewis@becn.com

571-752-1048

Source: Beacon

FAQ

What is the significance of Beacon's acquisition of Complete Supply?

The acquisition strengthens Beacon's market presence in Chicago and enhances service levels to contractors and homebuilders.

How will Complete Supply's acquisition affect Beacon's customers?

Customers will benefit from expanded product offerings, improved services, and access to digital solutions.

When did Beacon announce the acquisition of Complete Supply?

Beacon announced the acquisition on June 1, 2022.

What does this acquisition mean for Beacon's growth targets?

The acquisition aligns with Beacon's Ambition 2025 growth targets by expanding their footprint and customer base.

Where is Complete Supply located?

Complete Supply is based in Willowbrook, Illinois, serving the greater Chicago market.