- Cavco Industries ( NASDAQ: CVCO ) said Thursday it will acquire Oklahoma-based Solitaire Homes for $93M.
- The deal includes Solitaire's manufacturing facilities, 22 retail locations and transportation operations.
- Cavco ( CVCO ) expects to fund the deal entirely with cash on hand.
- The deal is expected to be accretive to Cavco's ( CVCO ) earnings and cash flow from operations.
- The addition of Solitaire's plants provides added coverage in the Southwest.
- The deal has potential for operational and revenue synergies, including significant manufacturing cost and efficiency improvements.
- Solitaire operates manufacturing facilities in New Mexico, Oklahoma and Mexico.
- The deal is expected to close early in Q4 2023.
For further details see:
Cavco Industries to acquire Solitaire Homes for $93M in cash