D.R. Horton acquires Classic Builders

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Fort Worth-based national homebuilding company D.R. Horton has acquired Classic Builders in Ankeny, Builder magazine reported. D.R. Horton, which is publicly traded on the New York Stock Exchange, paid approximately $60 million cash for Classic Builders, which will operate as a separate division within the company. Classic Builders was the largest homebuilder by volume in Des Moines in 2017, according to Builder magazine’s rankings. The homebuilding assets acquired include approximately 670 lots, 130 homes in inventory and 40 homes in sales order backlog. D.R. Horton also acquired control of approximately 550 lots through option contracts. “We are excited to join the largest homebuilder in the country and look forward to continuing to provide superior customer service and growing our business further,” said Seth Moulton, vice president of Classic Builders.