Beacon Roofing Buys Allied Products, Expands Geographic Reach
Zacks Investment Research | Jan 02, 2018 09:14PM ET
Beacon Roofing Supply Inc. (NASDAQ:BECN) has completed the previously announced acquisition of CRH (LON:CRH) plc's (NYSE:CRH) U.S distribution business, Allied Building Products Corp. for $2.6 billion. The buyout will not only expand product offerings, but also increase geographical reach in both existing and new markets while ensuring significant cost synergies.
Dublin, Ireland-based CRH is the largest building materials company in North America and the second largest worldwide. Its subsidiary, Allied Building Products is one of the country’s largest exterior and interior building products distributors. It distributes products which include exterior products, such as roofing, siding, windows and doors, and interior products, such as wallboard and suspended ceiling systems, across 208 locations in 31 states.
Ensures Market Leading Position
The acquisition will catapult Beacon Roofing to one of the largest public wholesale building materials distributors in the United States and Canada. It will have 589 branches in six provinces across Canada and in all 50 states, expanding foothold in other key markets including Texas, Florida, Colorado and California. Through the Allied acquisition, Beacon Roofing would mark its foray in local markets in the New York, New Jersey and Upper Midwest.
Beacon Roofing Supply, Inc. Price
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.