ATLANTA, Jan. 15, 2016 /PRNewswire/ -- PulteGroup, Inc.
(NYSE: PHM) announced today completion of its previously announced
agreement to acquire certain homebuilding assets of John Wieland
Homes and Neighborhoods ("Wieland"), one of the country's premier
builders of move-up and luxury homes, from affiliates of Wheelock
Street Capital, L.L.C. and the Wieland family.
The Company expects this transaction will be immediately
accretive to earnings and cash flows.
Headquartered in Atlanta,
Wieland ranks among the country's 100 largest homebuilders and is a
leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh; all markets in which PulteGroup
currently operates.
Forward-Looking Statements
This press release includes "forward-looking statements."
These statements are subject to a number of risks, uncertainties
and other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we
serve or intend to serve, to differ materially from those expressed
in, or implied by, these statements. You can identify these
statements by the fact that they do not relate to matters of a
strictly factual or historical nature and generally discuss or
relate to forecasts, estimates or other expectations regarding
future events. Generally, the words "believe," "expect,"
"intend," "estimate," "anticipate," "project," "may," "can,"
"could," "might," "will" and similar expressions identify
forward-looking statements, including statements related to
expected operating and performing results, planned transactions,
planned objectives of management, future developments or conditions
in the industries in which we participate and other trends,
developments and uncertainties that may affect our business in the
future.
Such risks, uncertainties and other factors include, among other
things: interest rate changes and the availability of mortgage
financing; continued volatility in the debt and equity markets;
competition within the industries in which PulteGroup operates; the
availability and cost of land and other raw materials used by
PulteGroup in its homebuilding operations; the impact of any
changes to our strategy in responding to the cyclical nature of the
industry, including any changes regarding our land positions; the
availability and cost of insurance covering risks associated with
PulteGroup's businesses; shortages and the cost of labor; weather
related slowdowns; slow growth initiatives and/or local building
moratoria; governmental regulation directed at or affecting the
housing market, the homebuilding industry or construction
activities; uncertainty in the mortgage lending industry, including
revisions to underwriting standards and repurchase requirements
associated with the sale of mortgage loans; the interpretation of
or changes to tax, labor and environmental laws; economic changes
nationally or in PulteGroup's local markets, including inflation,
deflation, changes in consumer confidence and preferences and the
state of the market for homes in general; legal or regulatory
proceedings or claims; our ability to generate sufficient cash flow
in order to successfully implement our capital allocation
priorities; required accounting changes; terrorist acts and other
acts of war; and other factors of national, regional and global
scale, including those of a political, economic, business and
competitive nature. See PulteGroup's Annual Report on Form
10-K for the fiscal year ended December 31,
2014, and other public filings with the Securities and
Exchange Commission (the "SEC") for a further discussion of these
and other risks and uncertainties applicable to our
businesses. PulteGroup undertakes no duty to update any
forward-looking statement, whether as a result of new information,
future events or changes in PulteGroup's expectations.
About PulteGroup
PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America's largest
homebuilding companies with operations in approximately 50 markets
throughout the country. Through its brand portfolio that
includes Centex, Pulte Homes, Del
Webb and DiVosta Homes, the Company is one of the industry's
most versatile homebuilders able to meet the needs of multiple
buyer groups and respond to changing consumer demand.
PulteGroup conducts extensive research to provide homebuyers with
innovative solutions and consumer inspired homes and communities to
make lives better.
For more information about PulteGroup, Inc. and PulteGroup
brands, go to www.pultegroupinc.com; www.pulte.com; www.centex.com;
www.delwebb.com, www.divosta.com and www.jwhomes.com.
About John Wieland Homes and Neighborhoods
With a legacy dating back to 1970, John Wieland Homes and
Neighborhoods currently builds in Atlanta, Charleston, Charlotte and Raleigh, and Nashville. In its four-decade history, the
John Wieland Homes and Neighborhoods brand has won more than 600
awards for excellence, including National Builder of the Year, the
National Housing Quality Award and the industry's top award in
2005, America's Best Builder. Widely recognized for
excellence in the move-up market for its award-winning home design,
quality and neighborhood planning, the John Wieland Homes and
Neighborhoods portfolio offers homes and townhomes from
$200,000 to over $1 million. For more information,
visit www.jwhomes.com.
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SOURCE PulteGroup, Inc.