It's been no secret that Atlanta's John Wieland Homes has been on the block, The 40-year-old home building brand's fate was revealed today with an announcement that Atlanta neighbor, PulteGroup, is buying 7,400 controlled lots and 280 homes in backlog from Wieland.
"Population growth and housing demand in the Southeast are expected to remain strong for years to come, so this acquisition of the John Wieland Homes and Neighborhoods brand and its robust land pipeline provides a great opportunity to increase our market share and operating leverage in five important cities, while expanding our presence in the luxury segment," said Richard J. Dugas, Jr., Chairman, President and Chief Executive Officer of PulteGroup.
Given geographic proximity and past relationships, Pulte's courtship of Wieland makes sense.
"Having worked for Pulte earlier in my career, I have a strong appreciation for the proud history, reputation for quality and dedicated professionals in each organization," said Gregory Huff, CEO of John Wieland Homes. "We look forward to joining a national homebuilder where we share the same beliefs with regard to delivering superior product quality and outstanding service to our customers."