By Jill Ralph. In the process of acquiring substantially all The Jones Company's home building operations in St. Louis and Indianapolis, Centex Homes will add approximately 800 units to its annual tally. Centex Homes, currently in the due diligence stage, plans to complete the acquisition by the first of the year.
The Jones Company, headquartered in St. Louis, is a privately held builder of both single-family and multi-family homes that holds 6 percent of the market share in the market. Centex Homes, based in Dallas, is one of the largest single-family home builders in the United States and operates in more than 90 markets.
"We have a talented team with strong local market knowledge. Combining that with Centex Homes' financial strength, training and development resources, and national buying power should allow our organization to excel," said Howard Chilcutt, then president and CEO who has since been replaced as president by Ken Stricker, the company's former CFO.
|Total Permits: 9,940|
|Parent Co./Co.||Division President||Sales||Market Share|
|McBride & Son Enterprises||Richard T. Sullivan Jr. /Ted Dettmer||626||6.3%|
|The Jones Co.||Howard Chilcutt||600||6.0%|
|Whittaker Homes||Greg Whittaker||416||4.2%|
|Mayer Homes||R.J. Mayer||280||2.8%|
|Taylor-Morley Homes||Mark Morley||251||2.5%|
Published in BIG BUILDER Magazine, November 2002