Herndon’s Beacon Roofing to be acquired for $11 billion

Herndon, Virginia-based Beacon Roofing Supply, the largest publicly-traded building materials company in the country, has agreed to be acquired by Greenwich, Connecticut-based QXO Inc. in an all-cash deal that values Beacon Roofing at $11 billion.

The agreement is a reversal from Beacon Roofing’s initial rejection of a similar offer made by QXO, made public in January, which it said undervalued the company.

“Since QXO made its initial offer … we have evaluated strategic alternatives to enhance value for all of our shareholders. Following our board’s comprehensive review, we concluded that this transaction is in the best interest of Beacon and its shareholders given the immediate premium and certainty of value in cash it offers, particularly in an uncertain environment,” Beacon Roofing chairman Stuart Randle said in a statement.

The acquisition requires shareholder approval. The company’s board unanimously recommends shareholders do. It has already received regulatory approval in the U.S. and Canada.

Beacon is a Fortune 500 company and has grown significantly through its own acquisitions of smaller building supply companies. It had $9.8 billion in 2024 revenue. The company was founded in 1928 and has more than 580 locations in North America.

QXO provides accounting, financial reporting and warehouse management systems for built-in materials companies.