- Beacon Roofing Supply, Inc. BECN has acquired Midway Sales & Distributing, Inc (Midway Wholesale), a Midwest distributor of residential and commercial exterior building and roofing supplies, for an undisclosed sum.
- Midway Wholesale serves customers at 10 locations across Kansas, Missouri, and Nebraska. With annual sales of ~$130 million, the acquisition deepens Beacon's presence in the Midwest.
- Beacon Roofing held cash and cash equivalents of $188.9 million as of June 30, 2021.
- "Expanding our depth of service in the Midwest will bring Midway customers the opportunity to benefit from Beacon's digital solutions, TRI-BUILT product line, and OTC® network," commented Julian Francis, President & CEO of Beacon.
- Price Action: BECN shares closed higher by 2.06% at $53.96 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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