PEABODY, Mass. -- (Business Wire)
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon") announced today
that it has acquired Ford Wholesale Co. of San Jose (“Ford Wholesale”),
a distributor of residential and commercial roofing and related
accessories with three locations in Northern California, and
Construction Materials Supply (“CMS”), a distributor of mostly
residential roofing products with two locations in Northern California.
With the two acquisitions, Beacon will add branches in San Jose,
Oakland, Livermore and two in Sacramento and sales of approximately $60
Ford Wholesale’s President and CEO Jim Ornellas, who will remain with
the Company, stated “I believe that joining Beacon presents new
opportunities for Ford Wholesale, our customers and our employees.
Beacon’s size and reputation in the industry will allow us to better
serve our customers and expand our product offering to help better serve
the professional roofing contractor. I am very excited about Ford
CMS’s President Peter Clark, who also will remain with the company,
stated “Teaming-up with Beacon presented the best opportunity for CMS to
grow our business and introduce new product lines to our customers. The
entire CMS team looks forward to joining forces with Beacon and sharing
in its growth as it expands into Northern California and beyond. I am
very excited for the future of CMS.”
Paul Isabella, Beacon’s President and Chief Executive Officer,
emphasized the strategic fit of Ford Wholesale and CMS, the new
geography that the acquisitions bring to Beacon, and the compatibility
of the three companies. He stated: "We are very excited to welcome Ford
Wholesale and CMS and their experienced teams to Beacon. These
acquisitions allow Beacon to enter the attractive Northern California
market in a substantial way and continue to expand our footprint in that
state. We now have nearly quadrupled the California branches we had just
six months ago.. Equally important is that the CMS and Ford Wholesale
teams share our belief that success comes from hard work and a strong
commitment to your employees and customers."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a
leading distributor of roofing materials and complementary building
products operating 229 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.
Beacon Roofing Supply, Inc.
Rick Welker, CAO, 978-535-7668 x28
Source: Beacon Roofing Supply, Inc.
© 2016 Canjex Publishing Ltd. All rights reserved.