Cavco Industries has finalized the acquisition of American Homestar Corporation and its subsidiaries, expanding its presence in the factory-built housing and retail sector.
The deal, originally announced July 14, closed September 29.
The purchase, valued at $190 million subject to customary adjustments, was completed using Cavco’s cash on hand. With the acquisition now effective, American Homestar operations have become part of Cavco’s nationwide portfolio.
American Homestar, widely recognized under its Oak Creek Homes brand, operates two manufacturing facilities and 19 retail locations across Texas, Louisiana, and Oklahoma.
The company also provides financing for a limited number of manufactured home loans and acts as an agent for third-party insurers.
According to a press release, Cavco President and Chief Executive Officer Bill Boor emphasized the cultural and strategic fit between the two companies. “We are grateful to Buck Teeter, Dwayne Teeter and the entire American Homestar team for their trust in joining us.”
“This combination is a fantastic cultural and strategic fit, and we are confident that together, our talented teams will unlock new possibilities and create something truly special,” Boor added.
The acquisition underscores Cavco’s continued strategy of expanding its manufacturing and retail footprint. With the addition of American Homestar’s facilities and sales network, Cavco strengthens its ability to meet consumer demand in multiple regions.
Founded in 1971 by Buck Teeter, American Homestar has grown into a vertically integrated housing company. Its operations span manufacturing, retail, finance, and insurance.
Cavco, headquartered in Phoenix, Arizona, is a manufacturer of factory-built housing products. Its portfolio includes manufactured homes, modular homes, park model RVs, vacation cabins, and commercial structures.
The company’s finance subsidiary, CountryPlace Mortgage, provides a range of loan products, including conforming and non-conforming mortgages as well as home-only loans.
For more information about Cavco Industries, visit cavcohomes.com.