Toll Brothers, the nation’s leading builder of luxury homes, has signed a definitive agreement to acquire substantially all the assets of Buffington Homes of Arkansas, a privately held home builder based in Fayetteville. The transaction is expected to close in the company’s fiscal third quarter.
The deal marks Toll Brothers’ entry into the fast-growing Fayetteville and Bentonville housing market, strengthening its national footprint. Founded in 2010, Buffington Homes is the largest luxury home builder in northwest Arkansas, with nine active or upcoming communities. The company primarily serves first-time and move-up buyers, with homes priced from the $400,000s to over $1 million, and controls more than 1,500 lots in the region.
Following the acquisition, Buffington Homes’ senior leadership team and employees will join Toll Brothers. Founding partners Clay Carlton and Mike Lamberth will continue focusing on land acquisition and development. Mike Buffington, MD, co-owner and brother of founder Thomas B. Buffington, will step away from the business to focus on his family.
The financial terms of the transaction were not disclosed. Including this deal, Toll Brothers will have completed 16 home builder acquisitions since 1995.
KEY QUOTES:
“We are excited to be entering the vibrant and growing Fayetteville/Bentonville market, further expanding the geographic footprint of our luxury home building operations across the country. Buffington Homes is the leading luxury home builder in this market with exceptional communities, strong financial performance, and a reputation for quality. We look forward to leveraging their team’s local expertise and strong land position in northwest Arkansas while adding value and scale to successfully grow the business into the future.”
Karl K. Mistry, Chief Executive Officer, Toll Brothers
“We are excited to join the Toll Brothers team to help take our operations to the next level. As the leading luxury home builder in the U.S., Toll Brothers has the brand recognition, operating expertise, and financial strength to accelerate our growth across northwest Arkansas. Our companies also share similar values and a focus on excellence in our industry, making this a perfect fit for our employees and customers alike.”
Clay Carlton, Founding Partner, Buffington Homes
