Beacon Expands Service in the South

Rhea-AI Summary

Beacon (Nasdaq: BECN) announces the opening of two new branches in Kentucky and Virginia. The Hampton, VA location enhances service for customers in the Virginia Beach-Norfolk-Newport News-Williamsburg market, offering roofing and complementary products, including TRI-BUILT® brand items. The Leitchfield, KY branch is tailored for lumberyard and building supply customers in rural areas. These openings align with Beacon's Ambition 2025 growth strategy, aimed at serving diverse market needs and facilitating business efficiency.

Positive

• New branches in Hampton, VA, and Leitchfield, KY enhance market coverage.
• Hampton branch serves Virginia Beach-Norfolk-Newport News-Williamsburg area, expanding customer reach.
• Leitchfield branch is designed for rural market needs, targeting lumberyard and building supply customers.
• Supports the Ambition 2025 growth strategy, aiming for organic expansion.

Negative

• None.

New branches open in Kentucky and Virginia

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has opened greenfield locations in Leitchfield, Kentucky and Hampton, Virginia.

The Hampton, VA branch expands the Beacon OTC® network service to residential and commercial customers in the Virginia Beach-Norfolk-Newport News-Williamsburg market. It is stocked with leading brands of roofing and complementary products, including Beacon’s own TRI-BUILT® products.

The Leitchfield, KY branch is specifically designed, stocked, staffed, and equipped to serve lumberyard, building supply and home center customers in predominantly rural markets.

“These new locations bring additional service to both our coastal and rural customers in the South. Our teams of building materials experts are trained to serve each market’s needs and help customers grow their businesses by saving time and operating more efficiently,” explained Munroe Best, Beacon’s South Division President.

These branch openings add to Beacon’s organic growth investments that are part of its Ambition 2025 strategy.

About Beacon
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The Company operates over 450 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 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/20221027005739/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 are the recent developments for Beacon (BECN) in Kentucky and Virginia?

Beacon has opened new branches in Leitchfield, Kentucky, and Hampton, Virginia, enhancing its service network.

How do the new branches improve service for Beacon's customers?

The new Hampton branch serves the Virginia Beach-Norfolk-Newport News-Williamsburg market, while Leitchfield targets rural building supply customers.

What is Beacon's Ambition 2025 strategy?

Ambition 2025 is Beacon's growth strategy focusing on organic investments and expanding market presence.

What products are offered at the new Beacon locations?

The new branches offer roofing materials and complementary products, including Beacon’s TRI-BUILT® brand.