Beacon Announces New Locations in California and Texas

Rhea-AI Summary

Beacon (Nasdaq: BECN) has opened new locations in Riverside, California and Houston, Texas to serve residential and commercial contractors. The Riverside, CA branch is in the Inland Empire region of Southern California, catering to the fast-growing population centers. The Houston, TX branch is strategically located along the busy 288 corridor, adding another lever to serve customers. Beacon has opened 21 greenfields and completed nine acquisitions in 2023 as part of its Ambition 2025 plan for above-market growth.

Positive

• Beacon's expansion into high-growth areas like Riverside, CA and Houston, TX demonstrates a proactive approach to meeting customer needs and capitalizing on growing markets.
• The company's commitment to delivering on its Ambition 2025 plan through footprint expansion and acquisitions shows a strong focus on driving above-market growth.

Negative

• None.

Riverside, CA and Houston, TX locations now open to serve customers

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN) announced today that it has opened new locations in Riverside, California and Houston, Texas to serve residential and commercial contractors.

The new Riverside, CA branch is in the Inland Empire region of Southern California. “This area is one of the fastest-growing population centers in the U.S. and we are pleased to serve contractors from our Riverside, San Bernardino and Norco branches which operate as a Beacon OTC® network. Customers have access to our full catalog of products and are assured on-time delivery so that they can grow their businesses,” commented Nevin Holly, Beacon’s Regional Vice President, Pacific.

The new branch in Houston, TX is right along the busy 288 corridor between Interstates 69 & 610, south of the city. “This location adds another lever for us to serve our Houston customers. The Houston Beacon OTC® network is now seven branches strong allowing us to differentiate on service and product range to make the customer experience second to none,” explained Peter Lippert, Beacon’s Regional Vice President, Texas.

Beacon has opened 21 greenfields and completed nine acquisitions to date in 2023. Footprint expansion is an important element of our Ambition 2025 plan as we continue to deliver on our commitments to drive above-market growth.

About Beacon

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 500 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116502756/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets and Treasurer

Binit.Sanghvi@becn.com

972-369-8005

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

Jennifer.Lewis@becn.com

571-752-1048

Source: Beacon

FAQ

Where has Beacon (Nasdaq: BECN) opened new locations?

Beacon has opened new locations in Riverside, California and Houston, Texas.

What is Beacon's Ambition 2025 plan?

Beacon's Ambition 2025 plan aims to drive above-market growth through footprint expansion and acquisitions.

How many greenfields has Beacon opened in 2023?

Beacon has opened 21 greenfields in 2023.

How many acquisitions has Beacon completed in 2023?

Beacon has completed nine acquisitions in 2023.