Benzinga | Dec 31, 2021 09:06AM EST

Beacon Bolsters Tennessee Presence Through Crabtree Acquisition

* Beacon Roofing Supply, Inc. (NASDAQ:BECN) has acquired Crabtree Siding and Supply, effective January 1, 2022. Deal terms were not disclosed.

* Crabtree is a wholesale distributor of residential exterior building materials, including a broad offering of complementary products, to contractors and homebuilder customers, with annual sales of ~$1 million. Their Cookeville, Tennessee location is located in the market between Nashville and Knoxville.

* The company expects the acquisition to grow its presence in Tennessee.

* Beacon held cash and cash equivalents of $260 million as of September 30, 2021.

* Price Action: BECN shares closed lower by 0.80% at $56.75 on Thursday.