Cash And Clout: How Skyline Champion's Multi-Million Dollar Acquisition Could Redefine Housing In The Southeast
Portfolio Pulse from Shivani Kumaresan
Skyline Champion Corp (NYSE:SKY) subsidiaries, Champion Home Builders and Champion Retail Housing, have agreed to acquire Regional Enterprises LLC and related companies for $328 million, plus assumed debt of $130 million. Regional Homes is the fourth largest HUD manufacturer in the U.S. with estimated revenue of $523 million for the year ended December 31, 2022. The acquisition is expected to be completed in the third quarter of FY24.
August 28, 2023 | 3:08 pm
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POSITIVE IMPACT
Skyline Champion Corp's acquisition of Regional Enterprises could potentially boost its market position in the Southeast housing sector. The news has already positively impacted the company's stock price.
The acquisition of Regional Enterprises, a significant player in the housing sector, could strengthen Skyline Champion's market position. This strategic move is likely to be viewed positively by investors, as reflected in the 5.86% increase in SKY's stock price.
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IMPORTANCE 80
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