Beacon Bolsters Tennessee Presence Through Crabtree Acquisition

Beacon Roofing Supply, Inc. BECN has acquired Crabtree Siding and Supply, effective January 1, 2022. Deal terms were not disclosed.
Crabtree is a wholesale distributor of residential exterior building materials, including a broad offering of complementary products, to contractors and homebuilder customers, with annual sales of ~$1 million. Their Cookeville, Tennessee location is located in the market between Nashville and Knoxville.
The company expects the acquisition to grow its presence in Tennessee.
Beacon held cash and cash equivalents of $260 million as of September 30, 2021.
Price Action: BECN shares closed lower by 0.80% at $56.75 on Thursday.