DR Horton Acquires Braselton Homes
D.R. Horton Inc. (D.R. Horton) acquired the largest homebuilder in Corpus Christi, Texas, Braselton Homes. The assets included in the transaction include about 95 lots and a total of 215 homes. D.R. Horton also inherited 840 lots using purchase contracts. The deal was in cash valued at $23.0 million. Braselton is now a part of DR Horton as a different wing in the company. The deal helps the company grow its operations in the Texas area where the company is headquartered and also helps build up the company's homebuilding operations.
Balance Sheet|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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