Benzinga | Dec 1, 2021 02:27PM EST

Beacon Divests Solar Products Business To BayWa

* Beacon Roofing Supply, Inc. (NASDAQ:BECN) has completed the sale of its solar products business to BayWa r.e. Financial terms were not disclosed.

* Beacon Solar Products generated ~$111 million in net sales, net income of $2.6 million, and Adjusted EBITDA of $3.7 million in the year ended September 30, 2021.

* Beacon's solar products business consists of four dedicated and six shared branch locations where it distributes solar products.

* "The divestiture of Solar Products is in line with our strategy to focus on our core exteriors customers," stated Julian Francis, Beacon's President and CEO.

* Price Action: BECN shares are trading higher by 1.85% at $50.83 on the last check Wednesday.