Cavco Industries, a producer of park model RVs, vacation cabins and factory-built commercial structures, has entered into a definitive agreement to acquire American Homestar Corporation, a Houston-based manufactured home builder and retailer operating under the Oak Creek Homes brand.
The all-cash transaction is valued at $190 million and is expected to close during Cavco’s third quarter of fiscal year 2026, pending regulatory approvals and customary closing conditions.
American Homestar operates two manufacturing facilities and 19 retail locations, with operations spanning across the South-Central United States.
In addition to homebuilding, the company originates a limited number of manufactured home loans and serves as an agent for third-party insurers.
For the 12 months ending May 31, American Homestar reported revenues of $194 million, net income of $16.6 million, and adjusted EBITDA of $17.8 million.
The acquisition will be funded entirely through Cavco’s cash on hand. The company expects the deal to be accretive to both earnings and operating cash flow. With 800 employees, American Homestar produced 1,676 homes during the reporting period, reflecting its established presence in the regional housing market.
According to a press release, Cavco President and CEO Bill Boor said, “Throughout the acquisition process, we developed a tremendous respect for what Buck Teeter, Dwayne Teeter, and the entire American Homestar team have built. For decades, they guided the company through industry downturns and challenges, consistently adapting and ultimately thriving.”
Founded in 1971 by Buck Teeter, American Homestar has focused on affordable housing and long-term employee stability.
President and CEO Dwayne Teeter noted, “As we enter this exciting new alliance with Cavco, we know this combination is a perfect cultural fit and that our people will be part of a dynamic, growing company, well positioned to compete in an ever-changing environment.”
The acquisition is expected to strengthen Cavco’s footprint in Texas and surrounding states, a key region for the manufactured housing sector.