Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today that it has acquired Contractors Roofing & Supply Co. (“CRS”) , a distributor of residential roofing products and related accessories with one location in the St. Louis suburb of O’Fallon, MO and annual sales of approximately $14 million.
Ken Bennett, CRS’s owner who will be leaving to pursue other business interests, stated "I am thrilled that CRS will continue as part of Beacon, which can offer CRS’s customers wider access to roofing and other building products while maintaining and enhancing the high level of service and value that CRS has provided over the years. Beacon also offers our employees and their families greater opportunities for growth in the roofing distribution business."
Paul Isabella, Beacon’s CEO and President, stated: “The CRS acquisition, combined with the expected opening Monday, August 6, 2012, of a new Roof Depot branch in St. Louis, gives us a solid presence in the very important and active St. Louis market. CRS has developed a strong and loyal customer base, and its dedicated and experienced team will work closely with our new branch to deliver the highest level of service and product offering to the St. Louis contractor community. We are excited to be in St. Louis and look forward to further growth in that market."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 207 branches in 38 states in the United States and across Canada. Website: www.beaconroofingsupply.com."Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Beacon Roofing Supply Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
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