Beacon Expands Presence and Customer Service in California & Wisconsin

Rhea-AI Summary

Beacon (Nasdaq: BECN) announced the opening of a new OTC hub in Pico Rivera, California, and a greenfield branch in Little Chute, Wisconsin. These locations aim to enhance service in the Los Angeles and Green Bay-Appleton areas. The Pico Rivera hub features 120,000 square feet of inventory, while the Little Chute branch has 10,000 square feet. CEO Julian Francis highlighted that these expansions align with the company's Ambition 2025 strategy, focusing on organic growth, margin enhancement, and lower emissions through optimized delivery routes.

Positive

• Opening of a new OTC hub in Pico Rivera, California, and a greenfield branch in Little Chute, Wisconsin.
• Pico Rivera hub houses approximately 120,000 square feet of inventory, enhancing service capacity.
• Little Chute branch offers 10,000 square feet of inventory for residential customers.
• New locations support the Ambition 2025 strategy, targeting above-market growth and operational excellence.
• Optimized delivery routes in congested Los Angeles market contribute to lower emissions.

Negative

• None.

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has opened a new OTC hub in Pico Rivera, Calif. and a greenfield branch in Little Chute, Wis. These branches expand service to customers in the high-volume Los Angeles market and the growing Green Bay-Appleton, Wis. corridor.

The Pico Rivera location is a Beacon OTC^® Network hub. Beacon’s OTC Network is a differentiated service model that solves customer needs by sharing market resources, inventory, and systems to deliver an outstanding customer experience. This OTC hub houses approximately 120,000 square feet of inventory as well as dedicated will-call locations for both residential and non-residential customers. The Little Chute location houses approximately 10,000 square feet of inventory for residential customers. Both branches are stocked with leading brands of roofing and complementary products, including Beacon’s own TRI-BUILT^™ brand.

“These two openings prove our commitment to making Ambition 2025 investments to drive above-market growth and operational excellence,” commented Julian Francis, President & CEO of Beacon. “They support organic growth as well as enhance margins, improve working capital, and develop talent. The Pico Rivera OTC hub will also contribute to our lower emissions target by optimizing delivery routes in the highly congested Los Angeles 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. These forward-looking statements relate to, among other things, expectations regarding the closing of the Notes offering and Beacon’s proposed new amended and restated senior secured credit facilities and the use of proceeds therefrom, including the 2025 Notes redemption. 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 federal securities laws. 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 allows customers to manage their business with us 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/20220309005173/en/

INVESTOR CONTACT

Binit Sanghvi

Head of Investor Relations

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 new locations has Beacon opened recently?

Beacon has opened a new OTC hub in Pico Rivera, California, and a greenfield branch in Little Chute, Wisconsin.

How large is the inventory at Beacon's Pico Rivera hub?

The Pico Rivera hub houses approximately 120,000 square feet of inventory.

What is the purpose of Beacon's Ambition 2025 strategy?

The Ambition 2025 strategy aims to drive above-market growth and improve operational excellence.

What are the environmental benefits of Beacon's new locations?

The new locations are designed to optimize delivery routes in the congested Los Angeles market, contributing to lower emissions.

What is the stock symbol for Beacon?

Beacon is traded on Nasdaq under the stock symbol BECN.