Toll Brothers to Acquire Buffington Homes of Arkansas to Enter Northwest Arkansas

Overview

• Toll Brothers said it will acquire substantially all assets of Buffington Homes of Arkansas, with closing targeted for its fiscal third quarter that ends July 31.
• The purchase gives Toll its first major presence in the Fayetteville and Bentonville area, where Buffington runs nine active or coming-soon communities.
• Buffington controls more than 1,500 home lots and sells homes priced from the $400,000s to above $1 million, with an average near $650,000.
• All Buffington employees will join Toll, co-owners Clay Carlton and Mike Lamberth will focus on land work, and co-owner Mike Buffington will step away to focus on his family.
• Toll says the deal fits its long-time focus on selective acquisitions, bringing its total to 16 since 1995 and securing land in a market where finished lots are scarce.