Benzinga | Nov 2, 2021 10:24AM EDT

Beacon Roofing Supply Buys Midway Wholesale For Undisclosed Sum

* Beacon Roofing Supply, Inc. (NASDAQ:BECN) has acquired Midway Sales & Distributing, Inc (Midway Wholesale), a Midwest distributor of residential and commercial exterior building and roofing supplies, for an undisclosed sum.

* Midway Wholesale serves customers at 10 locations across Kansas, Missouri, and Nebraska. With annual sales of ~$130 million, the acquisition deepens Beacon's presence in the Midwest.

* Beacon Roofing held cash and cash equivalents of $188.9 million as of June 30, 2021.

* "Expanding our depth of service in the Midwest will bring Midway customers the opportunity to benefit from Beacon's digital solutions, TRI-BUILT product line, and OTC(r) network," commented Julian Francis, President & CEO of Beacon.

* Price Action: BECN shares closed higher by 2.06% at $53.96 on Monday.