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D.R. Horton acquires Westport Homes in $190M cash deal

D.R. Horton Inc. acquired the homebuilding operations of Westport Homes, with an expected cash payment of approximately $190 million.

The acquired homebuilder operates in Indianapolis and Fort Wayne, Ind., and Columbus, Ohio.

Westport will operate as a separate division within D.R. Horton.

The acquired assets include roughly 3,500 lots, 400 homes in inventory and 550 homes in sales order backlog. The deal also includes control of roughly 3,200 lots through option contracts.