Beacon Roofing Supply Inc., an U.S. supplier of building materials, agreed to buy Roofing Supply Group for $1.1 billion from buyout firm Clayton, Dubilier & Rice to expand its offerings in California, Florida and Texas.

Beacon will pay $286 million in cash and give Roofing Supply’s shareholders $291 million of its common stock, the company said in a statement Monday. Beacon will also refinance about $565 million of Roofing Supply’s debt, it said.

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