PEABODY,
Mass., (BUSINESS WIRE) -- Beacon Roofing Supply,
Inc. (Nasdaq: BECN) announced today the acquisition of C&S
Roofing Materials, Inc., doing business as Pacific Supply
Company ("Pacific"), a west coast distributor of
roofing and other building products headquartered in Orange,
California.
Pacific operates four facilities in Southern California that
offer residential and commercial roofing products and other
complementary building products. It is a successful and fast
growing company and represents an excellent opportunity for
Beacon to expand its distribution business into the very attractive
west coast markets. Pacific was founded in 1970, employs 123
associates and generated net sales of approximately $53 million
for the year ended December 31, 2005.
Pacific has a knowledgeable and motivated management team
that has produced excellent results during its long history.
Consistent
with Beacon's other acquisitions, Pacific's facilities will
continue operating under their local identity to continue the
close relationships they have developed with their customers.
Chuck Wentworth, CEO of Pacific, stated, "Pacific and
Beacon share common cultures with an emphasis on quality people,
products and services and our employees are enthusiastic about
extending Pacific's and Beacon's reputation for quality products
and services to other areas of the west coast. Rob Keen, President
of Pacific, remarked, "Our management team is excited
about the growth opportunities that are available to us by
combining our talents and resources with Beacon. Beacon has
shown the ability to grow their other regions quickly and profitably
and we want to serve as the springboard for them to develop
a significant future west coast presence."
Robert Buck, CEO of Beacon, emphasized the overall strategic
importance of the Pacific acquisition and stated, "Pacific
is a respected supplier in Southern California and opens up
the entire west coast to us for additional expansion. They
have experienced employees and California is a terrific new
market for us."
About Beacon Roofing Supply Inc.:
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products operating 142
branches in 30 states in the Northeast, Mid-Atlantic, Midwest,
Central Plains, Southeast, Southwest and Western regions of
the United States and in Eastern Canada.
Forward-Looking Statements:
This release contains information about management's view
of the Company'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. 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 the Company's
latest Form 10-K. In addition, the forward-looking statements
included in this press release represent the Company's views
as of the date of this press release and these views could
change. However, while the Company may elect to update these
forward-looking statements at some point, the Company 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 the Company's views as of
any date subsequent to the date of this press release.
SOURCE: Beacon Roofing Supply, Inc.
Beacon Roofing Supply, Inc.
Dave Grace, CFO, 978-535-7668 x14
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