Meritage Homes Announces Entry into the Gulf Coast Markets with Acquisition of the Assets of Elliott Homes

Acquisition Details - Meritage Homes acquires Elliott Homes, a top five Gulf Coast homebuilder, marking its entry into the Gulf Coast markets [1][2] - The acquisition includes over 5,500 lots, with production operations expected to commence in existing entry-level communities by the end of the year [2] - The operations are anticipated to make a meaningful contribution to Meritage's performance in 2025 [2] Strategic Alignment and Leadership - The acquisition aligns with Meritage's strategy of building affordable entry-level homes and is the company's first acquisition since 2014 [3] - Phillippe Lord, CEO of Meritage Homes, highlights the acquisition as a strategic move to expand into desirable Gulf Coast markets [3] - Brandon Elliott, founder and CEO of Elliott Homes, expresses pride in his team's growth and looks forward to leveraging Meritage's national scale to deliver affordable, quality homes [3] Company Overview - Meritage Homes is the fifth-largest public homebuilder in the U.S., based on homes closed in 2023 [4] - The company operates in multiple states, including Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee [4] - Meritage has delivered over 190,000 homes in its 38-year history and is recognized for energy-efficient homebuilding, having received multiple awards from the U.S. Environmental Protection Agency [5] Industry and Market Position - Meritage Homes specializes in energy-efficient and affordable entry-level and first move-up homes, catering to a broad market segment [4] - The company's reputation is built on distinctive style, quality construction, and award-winning customer experience [5] - The acquisition of Elliott Homes strengthens Meritage's presence in the Gulf Coast region, a highly desirable market for homebuilding [3]