Acquisitions · Homebuilding
Sumitomo Forestry buys 70% of Utah homebuilder Edge Homes for $63 million
- Buyer
- Sumitomo Forestry (via Sumitomo Forestry America) (Tokyo)
- Target
- Edge Homes (Edge Utah HoldCo), Salt Lake City area, Utah
- Value
- $63M (about ¥7.3B)
- Status
- Completed on January 31, 2017.
- Date
- 2017-01-31
Sumitomo Forestry bought a 70% stake in Edge Homes, a homebuilder in the Salt Lake City area of Utah, through its US subsidiary Sumitomo Forestry America. The price was $63 million, or about ¥7.3 billion.
Why it matters
The deal adds another regional builder to Sumitomo Forestry's US housing business, which it has built through stakes in local homebuilders.
Sources
Kakehashi M&A News home
