D.R. Horton, Inc. Acquires the Homebuilding Operations of Braselton Homes

D.R. Horton, Inc. (NYSE:DHI), America’s Builder, today announced the acquisition of Braselton Homes, the largest homebuilder in Corpus Christi, Texas. The homebuilding assets acquired include approximately 95 lots, 90 homes in inventory and 125 homes in sales order backlog. D.R. Horton also acquired control of approximately 840 lots through purchase contracts. For the twelve months ended September 30, 2020, Braselton closed 223 homes ($56.3 million in revenue) with an average home size of approximately 1,815 square feet and an average sales price of $253,000. D.R. Horton expects to pay approximately $23 million in cash for the purchase, and Braselton will operate as a separate division within D.R. Horton.

Donald R. Horton, Chairman of the Board, said, “We are pleased to have Braselton Homes, their local management and employees join the D.R. Horton family. Their experienced, dedicated team and well-established building operations make Braselton a great addition as we continue to expand our footprint across Texas.”

Fred Braselton, President of Braselton Homes, said, “For over 70 years and 3 generations, the Braselton family has been building in the Corpus Christi Bay area. We are excited to join the largest homebuilder in the country and continue to provide quality homes to families in the Coastal Bend.”

About D.R. Horton, Inc.

D.R. Horton, Inc., America’s Builder, has been the largest homebuilder by volume in the United States since 2002. Founded in 1978 in Fort Worth, Texas, D.R. Horton has operations in 88 markets in 29 states across the United States and closed 61,164 homes in the twelve-month period ended June 30, 2020. The Company is engaged in the construction and sale of high-quality homes through its diverse brand portfolio that includes D.R. Horton, Emerald Homes, Express Homes and Freedom Homes ranging from $100,000 to over $1,000,000. D.R. Horton also provides mortgage financing, title services and insurance agency services for homebuyers through its mortgage, title and insurance subsidiaries.

Forward-Looking Statements

Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Although D.R. Horton believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to D.R. Horton on the date this release was issued. D.R. Horton does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements in this release include that D.R. Horton expects to pay approximately $23 million in cash for the purchase, and Braselton will operate as a separate division within D.R. Horton.