Beacon Divests Solar Products Business To BayWa

December 1, 2021 2:27 PM | 1 min read | Make a Comment

Beacon Roofing Supply, Inc. 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.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.