Beacon Roofing Supply, Inc. Announces Strategic Acquisition of a West Coast Distributor.PEABODY, Mass. -- Beacon Roofing Supply, Inc. (Nasdaq: BECN (Backward Explicit Congestion Notification) A frame relay message that notifies the sending device that a congestion avoidance procedure should be initiated. See FECN. ) announced today the acquisition of C&S Roofing Materials, Inc., doing business as Pacific Supply Company ("Pacific"), a west coast distributor of roofing and other building products headquartered in Orange, California The City of Orange is located in Orange County, California, United States. It is approximately 3 miles (6 kilometers) north of the county seat, Santa Ana, and approximately 32 miles (52 kilometers) southeast of Los Angeles. . Pacific operates four facilities in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, that offer residential and commercial roofing products and other complementary building products. It is a successful and fast growing company and represents an excellent opportunity for Beacon to expand its distribution business into the very attractive west coast markets. Pacific was founded in 1970, employs 123 associates and generated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of approximately $53 million for the year ended December 31, 2005. Pacific has a knowledgeable and motivated management team that has produced excellent results during its long history. Consistent with Beacon's other acquisitions, Pacific's facilities will continue operating under their local identity to continue the close relationships they have developed with their customers. Chuck Wentworth, 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 Pacific, stated, "Pacific and Beacon share common cultures with an emphasis on quality people, products and services and our employees are enthusiastic about extending Pacific's and Beacon's reputation for quality products and services to other areas of the west coast. Rob Keen, President of Pacific, remarked, "Our management team is excited about the growth opportunities that are available to us by combining our talents and resources with Beacon. Beacon has shown the ability to grow their other regions quickly and profitably and we want to serve as the springboard for them to develop a significant future west coast presence." Robert Buck Robert Buck can refer to:
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 142 branches in 30 states in the Northeast, Mid-Atlantic, Midwest, Central Plains, Southeast, Southwest and Western regions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in Eastern Canada. Forward-Looking Statements: This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's latest Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. |
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