Beacon Roofing Supply, headquartered in Herndon, Virginia, is the largest publicly-traded building materials firm in the United States, and has consented to be taken over by QXO Inc., based in Greenwich, Connecticut, in a cash-only transaction that values the company at $11 billion.
Beacon Roofing Supply, headquartered in Herndon, Virginia, is the largest publicly-traded building materials firm in the United States, and has consented to be taken over by QXO Inc., based in Greenwich, Connecticut, in a cash-only transaction that values the company at $11 billion.
This agreement marks a change from Beacon Roofing’s earlier rejection of a comparable proposal from QXO, which was publicly disclosed in January and deemed to undervalue the company.
“Since QXO made its initial proposal … we have explored strategic options to enhance value for all our shareholders. After a thorough review by our board, we determined that this transaction aligns with the best interests of Beacon and its shareholders, providing immediate premium and certainty of cash value, especially in today’s unpredictable environment,” stated Beacon Roofing chairman Stuart Randle.
The acquisition is subject to shareholder approval, with the company’s board unanimously urging shareholders to support it. Regulatory approvals have already been secured in the U.S. and Canada.
A Fortune 500 company, Beacon has significantly expanded through acquisitions of smaller building supply firms, reporting $9.8 billion in revenue for 2024. Established in 1928, it operates over 580 locations across North America.
QXO specializes in accounting, financial reporting, and warehouse management systems tailored for building materials companies.
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