KB Home Acquires Florida Builder
KB Home, the largest home builder in California and Texas, bought closely held Trademark Home Builders Inc. to expand into Florida.
Terms weren’t disclosed. The acquisition, which closed Thursday, will add “modestly” to Los Angeles-based KB Home’s 2002 earnings, the company said.
Jacksonville, Fla.-based Trademark, which has 20 communities in northern Florida, is expected to complete 650 homes in 2002, generating revenue of more than $100 million.
KB Home also has operations in Arizona, Nevada, New Mexico and Colorado, as well as in France.
Shares of KB Home fell $1.53 to close at $34.37 on the NYSE.
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