Beacon Roofing Supply Announces Acquisition of Michigan-Based Fox Brothers Company
HERNDON, Va.--(BUSINESS WIRE)-- Beacon Roofing Supply, Inc. (NASDAQ: BECN) ("Beacon") announced today that it has acquired Fox Brothers Company (“Fox”), a distributor of roofing, siding, windows, doors and related products headquartered in Lansing, Michigan. Founded by Tom and Dan Fox over thirty years ago, Fox has grown to four branches, with locations in Lansing, Grand Rapids, Kalamazoo and Howell, Michigan.
Fox President Tom Fox stated: "Joining the Beacon team presents a tremendous opportunity for the entire Fox family and our loyal customers and employees. Beacon’s national market strength and reputation will enable Fox to better serve our customers with broader product offerings and even more efficient deliveries. Fox’s strong residential business will significantly broaden Beacon's ability to serve the residential building market across Michigan. As we evaluated potential strategic partners, we chose Beacon because Beacon shares our values, culture, and our belief that success comes from hard work and great customer service. I am very excited about our future at Beacon."
Paul Isabella, Beacon’s CEO and President, emphasized the strategic fit of the acquisition and the compatibility of the two companies and stated, "We are very excited that Fox has joined the Beacon family. For over 30 years, Fox has built a reputation as a high quality supplier of residential roofing and related building materials that will strengthen our existing Michigan business. We are thrilled that the Fox family chose Beacon as the strategic partner that fit most with its values, would offer the greatest service to its customers and would provide the best career growth opportunities for its employees. Fox is a great strategic acquisition for Beacon.”
About Beacon Roofing Supply
Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, operating 369 branches throughout 45 states in the U.S. and six provinces in Canada. To learn more about Beacon and its family of regional brands, please visit www.becn.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 on Form 10-K for the most recently ended fiscal year.
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Beacon Roofing Supply, Inc.
Joseph Nowicki, 571-323-3940
Executive
Vice President & Chief Financial Officer
[email protected]
Source: Beacon Roofing Supply, Inc.