Meritage To Buy Legendary Communities For $130 Mln - Quick Facts

(RTTNews) - Home builder Meritage Homes Corp (MTH), Thursday agreed to acquire the homebuilding assets of Atlanta-based Legendary Communities for about $130 million.

Legendary is one of the largest privately-held homebuilders operating along the I-85 corridor of the Southeastern U.S. with a significant presence in the Atlanta and Greenville-Spartanburg markets, and a position in Charlotte.

Legendary, founded in 2009, closed about 500 homes and generated around $156 million of revenue in 2013. As of June 2014, Legendary owned or controlled almost 4,000 home sites.