Clayton Properties Group, a Berkshire Hathaway company and a division of Clayton Home Building Group, announced it acquired homebuilder Mungo Homes on Monday.
“Clayton’s partnership equips our team with innovative tools and technologies, superior leadership training and purchasing power that allows us to continue to grow Mungo with a focus on stability, team members and customers,” said Mungo Homes CEO Steven Mungo. “It creates the highest level of opportunity for our company as a whole while allowing us to retain our culture and corporate identity.”
“Mungo Homes is a natural fit for our distinguished group of homebuilders,” said Clayton Home Building Group President Keith Holdbrooks. “Their pillars of success stem from a longevity in the home building industry that is over 60 years old and began when Steven’s father, Michael Mungo, founded the company.
Holdbrooks added that the South Carolina-based company’s “family-like culture is a direct correlation to Mungo’s deep focus on team member and customer experience.”
Financial terms of the deal were not disclosed.
This is the eighth acquisition for Clayton Properties Group, and the third in 2018. The group is now operating in Alabama, Colorado, Georgia, Kansas, Missouri, Tennessee, Texas, Utah, Indiana, South Carolina and North Carolina.