Beacon Roofing Supply Announces Acquisition of Minnesota-Based Roof Depot.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. ) ("Beacon") announced today the acquisition of Roof Depot, Inc. ("Roof Depot"), a Minnesota-based distributor of residential and commercial roofing and other related building products with locations in Minneapolis and Stillwater, Minn. Roof Depot is a successful and well-respected distributor of roofing and other complementary building products and presents an excellent opportunity for Beacon to expand its Midwest presence into the vibrant Minneapolis-Saint Paul
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 $31 million for its fiscal year ended December 31, 2005. Consistent with Beacon's other acquisitions, these facilities will continue to operate under the Roof Depot name to maintain the close relationships Roof Depot has developed with its customers. Mike McGrath Michael ("Mike") McGrath is Montana's current attorney general. He was elected in November 2000, and was unopposed for his second term in 2004. He is a member of the Montana Democratic Party. He is a veteran of the United States Air Force. , President of Roof Depot, stated, "Our team of hard-working and dedicated employees are thrilled to be joining the fast-growing Beacon team and recognize the benefits of combining talents and resources to accelerate our growth opportunities for the future. Beacon was our preferred acquirer from day one due to its company culture and management philosophy, both of which are closely aligned with Roof Depot's." Robert Buck, President & 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, emphasized the strategic fit of the Roof Depot acquisition and stated, "Roof Depot provides Beacon with an excellent opportunity to expand our geographic presence in the Midwest into a new and dynamic Minnesota market that provides an ideal platform for continued growth. Roof Depot has an experienced, knowledgeable management team and very talented and hard-working employees who have produced profitable results with a commitment to service excellence that has earned Roof Depot a strong reputation with its customers." About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 151 branches in 31 states in the Northeast, Mid-Atlantic, Midwest, Central Plains, Southeast, Southwest and Western regions of the United States and in Eastern Canada. "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. " Statement 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: Statements in this press release regarding Beacon Roofing Supply Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or 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. for the most recently ended fiscal year. |
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