Beacon Surges on $1.1 Billion Deal to Buy CD&R’s Roofing Supply
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Beacon Roofing Supply Inc., a U.S. supplier of building materials, soared the most in almost seven years after agreeing to buy Roofing Supply Group for $1.1 billion from buyout firm Clayton, Dubilier & Rice.
“Roofing Supply complements Beacon geographically, especially in the southern and western United States,” Beacon Chairman Robert Buck said in a statement Monday. “This is a momentous event for these two great companies and for the future of the roofing distribution industry.”