MFH News and Views: Mergers And Acquisitions, Clayton Homes Buys River Birch Homes
According to the Knoxville News Sentinel, Clayton Homes of Maryville,TN. has acquired manufactured home builder River Birch Homes of Hackleburg, Ala.
Per the press release, Clayton Homes said the purchase includes all operating assets of River Birch Homes and is effective immediately.
River Birch, which makes single and multi-section homes and markets them in nine states throughout the southeast, has nearly 240 employees in the Hackleburg area, in northwest Alabama.
First rolling out In 1997, the company was started by owners Delmo Payne and Gerald Terrell.
“We are tremendously excited about adding the River Birch facility to our family of brands,” said Keith Holdbrooks, president of the Clayton Homes building group. “The state of Alabama is a very special place to me and our company. We are thrilled to become members of the Hackleburg community. Delmo and Gerald have done an excellent job in creating a solid brand with River Birch Homes, and we look to continue the good work they have already started.”
Payne said in a statement that he is looking forward to the next chapter for his company. “It gives me a great sense of pride to have a company as strong as Clayton take an interest in us and ultimately decide to move forward, “ Payne said. “It’s the seal of approval. They’re a family-oriented business with values that mirror ours, and I am honored to have River Birch Homes to be a part of that Clayton Family.”
“It means a lot to the Hackleburg community as well,” he said. “This is a company that really cares about its people and the communities they work in. That was important to me.”
River Birch becomes the 27th active home-building facility for Clayton. A part of the Berkshire Hathaway group, Clayton was founded in 1956. Its various operations offer site built homes, modular homes, manufactured housing, “tiny” homes, apartment complexes and other residences.
MFH footnote: “The biggest gets bigger.” Clayton continues to acquire independent manufactured home companies across the U.S., Clayton is one of the largest builders of all residential housing in the country, significantly enhanced by the volume of manufactured homes built and sold. Last year, Clayton built more than 34,000 manufactured homes, which represents almost 50% of the total 70,544 HUD homes produced by all manufacturers in the U.S.