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Benzinga
Benzinga
Business
Akanksha Bakshi

Beacon Bolsters Tennessee Presence Through Crabtree Acquisition

  • Beacon Roofing Supply, Inc. (NASDAQ:BECN) has acquired Crabtree Siding and Supply, effective January 1, 2022. Deal terms were not disclosed.
  • Crabtree is a wholesale distributor of residential exterior building materials, including a broad offering of complementary products, to contractors and homebuilder customers, with annual sales of ~$1 million. Their Cookeville, Tennessee location is located in the market between Nashville and Knoxville.
  • The company expects the acquisition to grow its presence in Tennessee.
  • Beacon held cash and cash equivalents of $260 million as of September 30, 2021.
  • Price Action: BECN shares closed lower by 0.80% at $56.75 on Thursday.
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