Beacon (NASDAQ: BECN) shares hiked Monday, as the leading publicly-traded specialty wholesale distributor of roofing, waterproofing and related exterior products announced today the results of its footprint expansion initiatives during the fourth quarter of 2024.
Aligning with M&A growth goals, Beacon acquired Ryan Building Products in Westwood, Massachusetts and Fairway Wholesale Distribution in South Hadley, Massachusetts. Founded in 1979, Ryan Building Products specializes in seamless metal gutter fabrication and delivery. Fairway Wholesale Distribution has been serving lumberyard customers for nearly five decades. Both companies bring tenured and knowledgeable teams with a strong service record.
To better serve customers in the St. Louis and Nashville markets. Beacon opened greenfield locations in Arnold, Missouri and Lebanon, Tennessee. Contractors in these areas now have more convenient Beacon branches to serve them with residential, non-residential and complementary building products including Beacon’s own TRI-BUILT® line.
“Adding locations and teams to deepen customer service,” reads this morning’s news release, “is an important element of our Ambition 2025 plan. Beacon exceeded its Ambition 2025 revenue and shareholder return targets in 2023 and continues to advance on achieving its full potential.”
Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 580 branches throughout all 50 states in the U.S. and 7 provinces in Canada.
BECN shares leaped $1.12, or 1.1%, to $103.72.
