Beazer Homes has entered into an agreement to acquire Venture Homes, a leading private homebuilder in Atlanta, for approximately $65 million.
Venture Homes was founded by CEO and President Robert White Sr. in 1984, and has delivered more than 6,000 homes during its 34 year history. Over the last 12 months, Venture Homes generated $69.9 million of homebuilding revenue from 277 closings with an average selling price of $252.2 thousand. The Venture assets to be acquired by Beazer include more than 1,000 lots located in 9 active communities and 18 future communities principally serving first time and first move-up homebuyers. The transaction also includes substantial construction work in process as well as 51 homes in backlog. The unique benefits of the transaction include:
Venture Homes Founder, CEO and President, Robert White Sr. stated, “While we received proposals from a number of other builders, Beazer Homes’ culture and commitment to delivering both a quality experience for buyers and opportunities for employees most closely aligned with our values. We’re excited about the opportunities that this combination creates for both our customers and our employees.” The parties expect the transaction to close promptly upon the satisfaction of customary closing conditions. Reported by Company Press Release (July 10, 2018) For complete information on Beazer Homes, including all corporate, region and division offices and top personnel, refer to The National Builders Directory and Online Database.
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