Beacon Acquires Canadian Distributor Groupe Bedard Ltd.SOMERVILLE, Mass.--(BUSINESS WIRE)--Aug. 26, 1999-- Beacon Holding Corporation announced today the formation of Beacon Canada Inc., a subsidiary of Beacon Acquisition Inc., and that subsidiary's acquisition of Groupe Bedard Ltd. Groupe Bedard Ltd. is a well-established one-step distributor of roofing materials serving the professional contractor in the provinces of Quebec and Ontario. "This acquisition, along with the formation of Beacon Canada, allows Beacon Holding Corporation to create a presence in the Canadian market. Bedard is a well-managed company positioned in a strong market that fits into our long-term strategic plans," said Andrew Logie, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Beacon Holding Corp. Beacon Holding Corporation consists of regional suppliers of quality roofing and building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . It has a presence in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , where it originated, with the venerable Beacon Sales Company founded in 1928 and in the mid-Atlantic states Mid-At·lan·tic States See Middle Atlantic States. Noun 1. Mid-Atlantic states - a region of the eastern United States comprising New York and New Jersey and Pennsylvania and Delaware and Maryland U.S.A. with Quality Roofing Products, Inc. "Our strategy is to achieve operational efficiencies through back-office consolidation while our quality regional distributors maintain their local identity and customer relationships," said Logie. Beacon has plans for continued acquisitions in other regions of the continent. "We are very pleased to join the Beacon organization because it reflects the same standards of quality and performance that Groupe Bedard has," said Jean-Guy Plante, the new president and CEO of Beacon Canada. "This agreement will provide significant benefits to our Canadian customers and added opportunities for growth and market synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. ," he added. Founded in 1892 as a roofing contractor, Groupe Bedard Ltd. converted to a full-service distributor of commercial and residential roofing materials in 1980 and has been run by three generations of the Bedard family. Bedard gives Beacon Canada six distribution points in Quebec and Ontario. "Moving forward, our plan is to support Bedard's sales and operations while it maintains its Canadian identity Canadian identity refers to the set of characteristics and symbols that many Canadians regard as expressing their unique place and role in the world. Primary influences on the "Canadian identity" are the existence of many well-established First Nations and the arrival, and customer relationships," said Richard Mallory, Beacon Holding Corporation President/COO. |
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