Beacon Roofing Supply, Inc. (NASDAQ: BECN) (“Beacon” or the “Company”), a leading distributor of roofing materials and complementary building products, announced today the opening of its 200 th branch in Myrtle Beach, South Carolina.
The Myrtle Beach branch is the Company’s 4 th in the state of South Carolina and the 24th branch operating under the Best Distributing name. Best Distributing, which was founded in 1880 and acquired by Beacon in 2000, is the leading full-service distributor of roofing, siding, windows and other related building products in North Carolina, South Carolina, Tennessee and Southern Virginia. Beacon’s growth strategy includes both internal growth (opening branches, growing sales with existing customers, adding new customers and introducing new products) and acquisition growth. The Company has opened 28 new branches since its IPO in 2004.
Paul Isabella, the Company’s President & Chief Executive Officer, stated: "We are very excited about our 200 th branch opening and pleased to continue our expansion in South Carolina. Our flexible growth strategy gives us the ability to expand our customer base and open in a variety of new markets. We remain one of the fastest growing distributors in the nation. I would like to thank our associates and recognize their hard work which allows us to celebrate another significant milestone for Beacon."
About Beacon Roofing Supply Inc.:Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products, operating 200 branches in 38 states in the United States and across 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV