Beazer Homes announced that it will be acquiring Venture Homes for $65 million.
The Atlanta-based private homebuilder was founded in 1984 and has delivered more than 6,000 homes over the course of those 34 years. Over the past 12 months, Venture Homes reported $69.9 million of homebuilding revenue from 277 closings with an average selling price of $252,200.
“While we received proposals from a number of other builders, Beazer Homes’ culture and commitment to delivering both a quality experience for buyers and opportunities for employees most closely aligned with our values,” Venture Homes founder, CEO and president Robert White Sr. said. “We’re excited about the opportunities that this combination creates for both our customers and our employees.”
The acquisition includes more than 1,000 lots in nine active communities and 18 future communities for first-time and move-up homebuyers.
“This acquisition allows us to accelerate our growth in Atlanta, a highly desirable market supported by robust job growth, solid affordability and favorable supply dynamics,” said Allan Merrill, president and CEO of Beazer Homes. “In addition to adding new and future communities, we are pleased to welcome our new colleagues who will enable us to pursue further growth in the Atlanta market in the years ahead.”