Beacon Roofing Supply Buys Midway Wholesale For Undisclosed Sum

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.