SKY - Skyline Champion to buy Regional Homes in $328M deal

2023-08-28 07:24:19 ET

• Champion Home Builders and Champion Retail Housing, subsidiaries of Skyline Champion Corp ( NYSE: SKY ) Monday announced a definitive agreement to acquire Regional Enterprises LLC, and related companies.
• Regional Homes is the fourth largest HUD manufacturer in the United States and operates three manufacturing facilities in Alabama and 43 retail sales centers across the southeast.
• The purchase price will be approximately $328 million plus assumed debt, primarily related to inventory floor plan liabilities, of $130 million.
• Skyline Champion expects to fund the acquisition with cash on hand and $30 million of the company’s common stock, which is subject to certain restrictions.
• Source: Press Release

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