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Article: NVR, Inc. Acquires Tennessee Builder, Fox Ridge Homes
- Article from:
- PR Newswire
- Article date:
- October 31, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MCLEAN, Va., Oct. 31 /PRNewswire/ -- NVR, Inc. (Amex: NVR) today announced that it has completed the acquisition of substantially all of the assets of Fox Ridge Homes, the number two homebuilder in Nashville, Tennessee as ranked by Builder magazine.
For the year ended December 31, 1996, Fox Ridge closed 436 homes and generated approximately $55 million in revenue. The company markets its homes primarily to first-time and first-time move-up customers and is currently active in twenty communities throughout the Nashville metropolitan area.
Dwight Schar, Chairman and Chief Executive Officer, said, "We are extremely excited about this acquisition. As ...