Japanese homebuilder Sekisui House has struck a deal to buy Denver-based builder M.D.C. Holdings for about $4.95 billion in cash.
The deal will make the company the fifth-biggest homebuilder in the United States and double Sekisui’s presence in the United States to 16 states. The company’s brands include Woodside Homes, Holt Homes, Chesmar Homes and Hubble Homes.
M.D.C. Holdings was founded in 1972, and its homebuilding subsidiaries, which operate under the name Richmond American Homes, have built more than 240,000 homes since 1977. Richmond American operates in Colorado as well as 15 other states.
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“Our strategic decision to merge with Sekisui House is a testament to our focus on maximizing shareholder value and delivering significant cash proceeds for our shareholders,” said Larry Mizel, founder and executive chairman of M.D.C. Holdings, in a statement. “Sekisui House’s technology and processes are well-regarded, and we look forward to partnering with a company that shares our belief in delivering customers with high-quality homes and a streamlined, comprehensive homebuying experience.”
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