Century Communities More Than Doubles Houston Community Count and Becomes Top 5 Houston Builder With Anglia Homes Acquisition

Rhea-AI Summary

Century Communities (NYSE: CCS), a leading homebuilder, has acquired substantially all assets of Anglia Homes, doubling its community count in the Houston area with the addition of 25+ communities. This move cements Century's position as a top five builder in Greater Houston. The acquired assets, comprising single-family homes priced from the mid $200Ks to high $400Ks, will transition to the Century brand and be available on its website. This acquisition aligns with Century's strategy of expanding in existing markets and enhancing access to capital-efficient lots.

Jim Francescon, Century's EVP, highlights the strategic value of this acquisition, while CFO Scott Dixon notes it as part of their profitable growth strategy. Anglia's focus on quality, location, affordability, and design mirrors Century's values, making this acquisition a strategic fit.

Whelan Advisory acted as the financial advisor for Anglia Homes.

Acquisition adds 25+ communities to the company's Houston operations

GREENWOOD VILLAGE, Colo., July 31, 2024 /PRNewswire/ -- Century Communities, Inc. (NYSE:CCS)—one of the nation's largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2024—today announced the acquisition of substantially all the assets of Anglia Homes, LP ("Anglia Homes").

Century Communities has been active as a major homebuilder in the Houston market since 2014. With the acquisition of Anglia Homes, Century Communities more than doubles its community count in Greater Houston, adding 25+ communities while also strengthening its position and becoming one of the top five homebuilders in the metro area. Going forward, Anglia Homes' operations and assets—consisting of one- and two-story single-family floor plans from the mid $200ks to the high $400ks—will be transitioned to the Century Communities brand, with available homes featured on Century Communities' website.

"Consistent with our strategy of increasing depth within existing markets in a land-light manner, this acquisition cements Century as a top five builder in the Houston metro, while also increasing our go-forward access to capital-efficient finished lots," said Jim Francescon, Executive Vice President of Century Communities. "We want to congratulate Mike Manners, James Hunter, and Thomas Manners for all they have accomplished in building Anglia Homes and welcome the Anglia Homes team to the Century family."

"We're excited to continue on our strong track record of growth with our second homebuilder acquisition this year and the ninth in Century's history," said Scott Dixon, Chief Financial Officer of Century Communities. "Houston has been one of our strongest-performing metro areas for the past 10 years, and we're confident that Anglia Homes is the perfect addition to continue executing on our strategy of profitable growth with high quality, affordable single-family homes in this dynamic market."

"Since 2008, our focus has been on quality, location, affordability, and design in order to provide our customers with the best homebuying experience," said Mike Manners, Chairman of Anglia Homes. "Century Communities not only shares those values, but continually pushes to make the dream of homeownership more accessible. We couldn't be prouder to have Anglia be part of the Century family."

Whelan Advisory served as the exclusive financial advisor for Anglia Homes. 

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders, an industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2024, consecutively awarded for a second year. Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 18 states and over 45 markets across the U.S., and also offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.  

About Anglia Homes

Founded in 2008 by Mike Manners, James Hunter, and Thomas Manners, Anglia Homes, LP, builds single-family homes in Houston, Texas. The company is known for constructing high-quality homes across several communities with a focus on the entry-level and move-up segment. The company exclusively purchases finished lots from its strong network of local developers in standalone communities and larger master plans.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company's Annual Report on Form 10-K for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

View original content to download multimedia:https://www.prnewswire.com/news-releases/century-communities-more-than-doubles-houston-community-count-and-becomes-top-5-houston-builder-with-anglia-homes-acquisition-302211480.html

SOURCE Century Communities, Inc.

FAQ

What did Century Communities (CCS) announce on July 31, 2024?

Century Communities announced the acquisition of substantially all assets of Anglia Homes, doubling its community count in Houston.

How many communities did Century Communities (CCS) add in Houston with the Anglia Homes acquisition?

Century Communities added 25+ communities in Houston with the acquisition of Anglia Homes.

What is the price range of the homes included in the Anglia Homes acquisition by Century Communities (CCS)?

The homes are priced from the mid $200Ks to the high $400Ks.

How will the Anglia Homes assets be branded after the acquisition by Century Communities (CCS)?

The assets will be transitioned to the Century Communities brand and featured on their website.

Why is the acquisition of Anglia Homes significant for Century Communities (CCS)?

The acquisition makes Century Communities a top five homebuilder in Houston and aligns with their strategy to expand in existing markets efficiently.