PHOENIX, ARIZ, July 14,2025 GLOBE NEWSWIRE– Cavco Industries, Inc. (NASDAQ CVCO) introduced in the present day that it has entered right into a definitive settlement to amass “American Homestar Company and its subsidiaries (collectively, “American Homestar”), a Houston-based firm finest recognized out there as Oak Creek Properties. American Homestar operates two manufacturing services, nineteen retail areas, writes and sells a restricted variety of manufactured dwelling loans and acts as an agent for third occasion insurers. With 800 staff, revenues for the twelve months ended Could 31, 2025 have been $194 million, web earnings was $16.6 million and earnings earlier than curiosity, taxes, depreciation, amortization, and different earnings (“Adjusted EBITDA”) (non-GAAP”) was $17.8 million. Throughout that point, American Homestar produced 1,676 houses.

Cavco will purchase American Homestar for $190 million in money, topic to customary buy value changes. The acquisition is meant to be funded totally from the Firm”s money readily available and is anticipated to shut within the Firm’s third quarter of fiscal 12 months 2026, topic to relevant regulatory approvals and the satisfaction of sure customary closing circumstances.

Highlights of the proposed transaction:

Monetary Impression: Cavco expects this proposed acquisition to be accretive to earnings and money circulation from operations.
Potential for operational and value synergies: Along with implementation of shared finest practices, the acquisition supplies the chance for significant price, buying and product optimization synergies.
Strengthens Cavco’s Place within the South-Central U.S.: Expands Cavco’s presence throughout Texas and surrounding states, one of many nation’s most essential manufactured housing.
Capital Allocation: Following the strategic deployment of current money, Cavco will nonetheless keep a big money place obtainable for continued strategic funding.