Beacon Expands Service In Providence and Toronto Markets

Rhea-AI Summary

Beacon (Nasdaq: BECN), a publicly-traded specialty roofing distributor, has launched new branches in Attleboro, Massachusetts and Mississauga, Ontario. These expansions are designed to better serve residential and commercial roofing contractors in the Providence, Rhode Island metro area, southeastern Massachusetts, and the Greater Toronto Area (GTA). The Attleboro branch offers enhanced service capabilities and access to Beacon's PRO+ app for online services. Meanwhile, the Mississauga branch provides a wide range of roofing products to support the GTA's growing population. Year-to-date in 2024, Beacon has opened seven new locations and completed four acquisitions, aligning with its Ambition 2025 plan which aims for above-market growth.

Positive

• New branches in Attleboro, MA, and Mississauga, ON, expand service areas.
• Enhanced service to residential and commercial roofing contractors.
• New branches support high-growth areas: Providence metro and GTA.
• Beacon PRO+ app for online ordering and delivery tracking available.
• Seven new branches opened year-to-date in 2024.
• Four acquisitions added 23 branches in 2024.
• Ahead of schedule on Ambition 2025 revenue and shareholder return targets.

Negative

• High costs associated with rapid expansion.
• Potential market saturation in key service areas.
• Increased competition in the roofing distribution market.

Branches in Attleboro, MA and Mississauga, ON now open to support building and roofing contractors

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN), the only publicly-traded specialty roofing distributor, announced today that it has opened new locations in Attleboro, Massachusetts and Mississauga, Ontario, Canada to increase service to residential and commercial roofing contractors.

The new branch in Attleboro, Massachusetts adds residential and commercial roofing and complementary products and services in the Providence, Rhode Island metro and the southeastern Massachusetts markets. “We have been serving contractors in New England since our founding nearly 100 years ago. Adding this location brings better service to the local market where our commitment to customer success is well known. Contractors will appreciate connecting to our industry-leading Beacon PRO+ app for online ordering, delivery tracking and our loyalty program,” said Gerard Hill, Beacon’s Regional Vice President, New England.

The new branch in Mississauga, Ontario will serve the Greater Toronto Area (GTA). “We are excited to add more access for our customers who are very busy supporting record population growth in the GTA. Our new branch has a strong catalog of both residential and commercial roofing products as well as complementary products such as waterproofing and insulation. This team’s knowledge and service commitment will help contractors save time and grow their businesses,” commented Charles Michaud, Beacon’s Regional Vice President, Canada.

Beacon has opened seven new locations, completed four acquisitions that added 23 branches year-to-date in 2024. Footprint expansion is an important element of our Ambition 2025 plan. We continue to deliver on our commitments to drive above-market growth to better serve customers. The company exceeded its Ambition 2025 revenue and shareholder return targets two years early and is advancing on achievement of its full plan.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly-traded specialty distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 550 branches throughout all 50 states in the U.S. and 7 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/20240523961685/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

What are the new Beacon locations mentioned in the press release?

Beacon has opened new branches in Attleboro, Massachusetts, and Mississauga, Ontario.

What markets do the new Beacon branches serve?

The Attleboro branch serves the Providence, RI metro and southeastern Massachusetts. The Mississauga branch serves the Greater Toronto Area.

What services are provided by Beacon's new branches?

The new branches provide residential and commercial roofing products, waterproofing, and insulation services.

How many new locations has Beacon opened in 2024?

Beacon has opened seven new locations year-to-date in 2024.

What is Beacon's Ambition 2025 plan?

Beacon's Ambition 2025 plan aims for above-market growth and improved customer service. The company has exceeded its revenue and shareholder return targets two years early.

What features does Beacon's PRO+ app offer?

Beacon's PRO+ app offers online ordering, delivery tracking, and a loyalty program.

What additions were made through Beacon's acquisitions in 2024?

Beacon's acquisitions in 2024 added 23 new branches.