D.R. Horton Announces Acquisition Of Westport Homes - Quick Facts

(RTTNews) - D.R. Horton, Inc. (DHI) announced the acquisition of Westport Homes, a homebuilder in Indianapolis and Fort Wayne, Indiana, and Columbus, Ohio. D.R. Horton also acquired control of approximately 3,200 lots through option contracts. D.R. Horton expects to pay approximately $190 million in cash for the purchase, and Westport will operate as a separate division within D.R. Horton.

The homebuilding assets acquired include approximately 3,500 lots, 400 homes in inventory and 550 homes in sales order backlog, the majority of which relate to Westport's Indianapolis and Columbus operations.