PEABODY, Mass.--(BUSINESS WIRE)--
Beacon Roofing Supply, Inc. (Nasdaq: BECN) ("Beacon" or "the Company")
announced today that it has acquired Fowler & Peth, Inc., a distributor
of residential and commercial roofing products and related accessories
headquartered in Denver, Colorado. Founded in 1948, Fowler & Peth has
six locations in Colorado, two in Wyoming and one in Nebraska and annual
sales of approximately $60 million.
Eric ("Ric") Peth, co-owner of Fowler & Peth, stated: "We are very
pleased to be joining a company that also has a long and successful
history in roofing distribution. Fowler & Peth was presented with many
strategic opportunities, but we chose to align with Beacon not only
because of its size and reputation in the industry but because it shares
our belief that success comes from hard work and a commitment to your
employees and customers." Kurt Peth, co-owner of Fowler & Peth, added:
"Joining Beacon will enable Fowler & Peth to grow our business more
quickly and presents greater career growth opportunities for our
employees. We are excited about our future with Beacon, which shares our
core corporate values."
Paul Isabella, Beacon's CEO and President, emphasized the strategic fit
of the acquisition and the compatibility of the two companies and
stated, "Fowler & Peth is an industry leader and allows Beacon to expand
our presence in the very important Denver market beyond our existing
Denver branch and to serve customers in the surrounding states. Fowler &
Peth is a key component to Beacon's westward expansion plans and will be
a gateway to further geographic growth for our company. I am thrilled to
welcome Fowler & Peth to the Beacon team."
About Beacon Roofing Supply Inc.: Beacon Roofing Supply, Inc. is a
leading distributor of roofing materials and complementary building
products operating 194 branches in 38 states in the United States and
across Canada. Website: www.beaconroofingsupply.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act 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 for the most recently ended fiscal year.
BECN-F
Beacon Roofing Supply, Inc.
David Grace, 978-535-7668 x14
CFO
dgrace@beaconroofingsupply.com
Source: Beacon Roofing Supply, Inc.
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