Skyline Champion Announces Acquisition of Regional Homes

Champion Home Builders and Champion Retail Housing, subsidiaries of Skyline Champion Corporation (NYSE: SKY) (“Skyline Champion”) today announced a definitive agreement to acquire Regional Enterprises LLC, and related companies (collectively, “Regional Homes”). Regional Homes is the fourth largest HUD manufacturer in the United States and operates three manufacturing facilities in Alabama and 43 retail sales centers across the southeast. They sold approximately 5,000 new homes and had estimated revenue of approximately $523 million for the year ended December 31, 2022, and generated estimated EBITDA of approximately $84 million for the same period.

“We are excited to welcome Regional Homes and its 1,200 employees to the Skyline Champion family,” said Mark Yost, Skyline Champion’s President and Chief Executive Officer. “We believe Regional Homes is an excellent fit given their customer-centric selling approach which goes hand-in-hand with our on-going efforts to enhance our customers’ buying experience. The transaction is expected to accomplish several objectives within our strategic framework for profitable growth. Notably, Regional Homes’ strong presence in the large markets of Alabama and Mississippi helps expand our captive retail and manufacturing distribution in that region. We expect this transaction to generate solid returns over time with meaningful stakeholder value creation from day one, supported by Regional Homes’ attractive margin profile, its talented team, as well as available synergy capture.”

Heath Jenkins, owner of Regional Homes commented, “We couldn't be more excited to partner with a company that not only has a reputation of excellence in our industry, but one that perfectly complements our business model and strategic goals. And with Skyline Champion's recent announcement of their partnership with ECN Capital Corporation, our capacity to provide tangible value to our customers has increased exponentially. This transaction provides a significant opportunity to make a positive impact for our customers and employees. The team at Skyline Champion has been able to witness the unique culture we have developed at Regional Homes firsthand. Their leadership has shown tremendous support in our abilities, but most of all, our people – who are what make this company so special. I’m confident that with these alliances, we are on the path to something great.”