Press release from Business Wire
The Ryland Group Announces an Agreement to Acquire the Operations of LionsGate Homes in Dallas, Texas
Friday, May 10, 2013
The Ryland Group Announces an Agreement to Acquire the Operations of LionsGate Homes in Dallas, Texas08:00 EDT Friday, May 10, 2013
WESTLAKE VILLAGE, Calif. (Business Wire) -- The Ryland Group, Inc. (NYSE: RYL), today announces that it has entered into a definitive agreement to acquire the Dallas-Fort Worth operations and assets of LionsGate Homes. The LionsGate acquisition has the potential to provide Ryland with an ongoing operation in Dallas, approximately 885 lots and homes for future sales. LionsGate Homes currently operates in 15 active communities in the Dallas/Ft. Worth market.
The purchase of LionsGate Homes would be Ryland's third acquisition in the last eleven months following its purchase of the assets of Timberstone Homes in Charlotte and Raleigh in July of 2012, and Trend Homes in Phoenix in December of 2012.
Headquartered in Southern California, Ryland is one of the nation's largest homebuilders and a leading mortgage-finance company. Since its founding in 1967, Ryland has built more than 300,000 homes and financed more than 245,000 mortgages. The company currently operates in 14 states across the country and is listed on the New York Stock Exchange under the symbol “RYL.” For more information, please visit www.ryland.com.
For more information, please contact Drew Mackintosh, Vice President of Investor Relations and Communication at Drew.Mackintosh@ryland.com.
Safe Harbor Statement
Certain statements in this press release may be regarded as “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and may qualify for the safe harbor provided for in Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent Ryland's expectations and beliefs concerning future events, and no assurance can be given that the future results described in this press release will be achieved. These forward-looking statements can generally be identified by the use of statements that include words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “foresee,” “goal,” “intend,” “likely,” “may,” “plan,” “project,” “should,” “target,” “will” or other similar words or phrases. All forward-looking statements contained herein are based upon information available to the Company on the date of this press release. Except as may be required under applicable law, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
The Ryland Group, Inc.
Drew Mackintosh, 805-367-3722
VP, Investor Relations and Corporate Communications