Beacon Announces Acquisition of Wichita Falls Builders Wholesale

Rhea-AI Summary

Beacon (Nasdaq: BECN) has acquired Wichita Falls Builders Wholesale, Inc., enhancing its market presence in North Texas. Builders Wholesale is known for distributing residential exterior building supplies, including windows, doors, and siding, and has a strong reputation in the Wichita Falls area. This acquisition aims to leverage Builders Wholesale's established customer base and expertise to drive growth and expand Beacon's footprint, aligning with its 'Ambition 2025' goals.

Positive

• Acquisition of Builders Wholesale enhances Beacon's market presence in North Texas.
• Builders Wholesale's established reputation and customer base provide growth opportunities.
• The deal aligns with Beacon's Ambition 2025 objectives for market expansion.

Negative

• None.

Expands Market Presence and Customer Service in North Texas

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) (the “Company”) announced today that it has acquired Wichita Falls Builders Wholesale, Inc. (“Builders Wholesale”), a distributor of complementary residential exterior building supplies, including windows, doors and siding to contractors, homebuilders and retail customers. Builders Wholesale has a three-decade history and strong reputation for serving customers in greater Wichita Falls, Texas.

“The Builders Wholesale team is excited to be joining Beacon. We have worked diligently over the last 33 years to serve our customers in the Wichita Falls market with extensive product knowledge,” commented Rick Belz, President, Builders Wholesale. “The team and I believe partnering with Beacon provides an opportunity to continue those relationships and bring additional value to customers.”

“We are pleased to welcome Builders Wholesale employees and customers to Beacon. We will partner to bring their customers the benefits of scale and specialized capabilities that differentiate our service model,” said Jason Taylor, Beacon’s President, West Division. “Builders Wholesale’s long history, high-quality team and strong location will allow us to serve a new and growing market. This acquisition also helps drive us toward our Ambition 2025 objective to expand our footprint and grow faster than the market.”

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^TM, 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/20220429005087/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 does the acquisition of Builders Wholesale mean for BECN?

The acquisition allows BECN to expand its market presence in North Texas and leverage Builders Wholesale's established customer base.

How will the Builders Wholesale acquisition impact Beacon's growth?

The acquisition is expected to drive growth by bringing additional value to customers and expanding Beacon's footprint.

When was the Builders Wholesale acquisition announced?

The acquisition was announced on April 29, 2022.

What products does Builders Wholesale distribute?

Builders Wholesale distributes residential exterior building supplies, including windows, doors, and siding.