Berkshire Hathaway Subsidiary, Clayton, Announces Acquisition of Prominent Tennessee Home Builder

Clayton expands portfolio of its site-built company

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Apr 29, 2016, 10:11 ET

MARYVILLE, Tenn., April 29, 2016 /PRNewswire/ -- Clayton, one of America's largest homebuilders, today announced it has acquired Gallatin, Tenn.-based Goodall Homes, a builder of new single-family homes, townhomes and condominiums since 1990. Goodall is the second site-built housing company to become part of Maryville-based Clayton, a subsidiary of Warren Buffett's Berkshire Hathaway. Clayton acquired Atlanta-area builder Chafin Communities last fall.

Experience the interactive Multimedia News Release here: http://www.multivu.com/players/English/7716454-clayton-acquires-goodall-homes/

Take a virtual walkthrough of Goodall Homes’ Monterey Model.

Through the Goodall Homes acquisition, Clayton will be building town homes like these pictured here.

Clayton’s site-built homes will have modern interiors with the latest upgrades and features like this model from Goodall Homes.

Clayton-owned Chafin Communities builds homes in the Atlanta area that are attractive both inside and out.

Clayton is already building site-built homes in the Atlanta area, like the one shown here.

Clayton has acquired Middle Tennessee-based Goodall Homes, expanding the company’s footprint into the site-built home market.

Clayton, through its site-building group, Clayton Properties, entered the site-built housing market to expand its portfolio of housing options to homebuyers. The acquisition of Goodall Homes includes approximately 3,600 lots and 180 homes under construction in a five-county area in Middle Tennessee. Goodall Homes closed 436 homes last year.

"Adding great builders like Goodall to our team is exciting," stated Clayton home building group President, Keith Holdbrooks. "As we continue to grow and expand into the site-built market, it is important to partner with teams that share our culture of providing an excellent customer experience."

Bob Goodall, Jr., started building in 1983 and founded Goodall Homes seven years later, following a tradition that began with his father, Bobby Goodall, Sr. The builder has focused on offering welcoming homes in beautiful neighborhoods through the development and construction of single-family homes, townhomes, courtyard cottages, condominiums and villas in the Nashville area. The range of housing has allowed Goodall to reach a wide network of buyers through its diverse offerings. The company was named 2014's National Builder of the Year, as voted by Professional Builder Magazine.

"I started building homes 33 years ago. We have been blessed with so many successful opportunities," Goodall Homes President Bob Goodall, Jr., said. "This acquisition will help our employees, trades, suppliers and our families continue on this path of growth for years to come. Goodall Homes has developed many great leaders and this will provide many possibilities for our team members. We are honored to be on the Clayton team and to contribute to the continued success of Berkshire Hathaway."

Goodall and his management team will retain their respective positions.

About Clayton

Clayton Homes was founded in 1956 and is proud of its history of providing affordable, quality homes. The Company is a diverse builder offering traditional site-built homes, modular homes, manufactured housing, "tiny" homes, college dormitories, military barracks, and apartments. In 2015, Clayton built over 34,000 homes. For more information, please go to claytonhomes.com.

SOURCE Clayton