Beazer Homes announces agreement to acquire Venture Homes for approx. $65M
Beazer Homes USA announced it had entered into an agreement to acquire Venture Homes, a leading private homebuilder in Atlanta, for approximately $65M. 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 parties expect the transaction to close promptly upon the satisfaction of customary closing conditions.