Clayton Properties Group acquires family-owned Mungo Homes

by Francis Monfort04 Dec 2018

Clayton Properties Group has announced that it has acquired Mungo Homes.

Mungo is the eighth acquisition for Clayton Properties Group and the third this year. Mungo builds in eight markets throughout North Carolina, South Carolina, Georgia, and Alabama, and sold more than 1,800 homes in 2017.

The addition of Mungo puts Clayton Properties on pace to build more than 4,200 homes by the end of 2018. Also with the acquisition, Clayton Properties Group’s market footprint now reaches Alabama, Colorado, Georgia, Kansas, Missouri, Tennessee, Texas, Utah, Indiana, South Carolina, and North Carolina.

"Clayton's partnership equips our team with innovative tools and technologies, superior leadership training and purchasing power that allows us to continue to grow Mungo with a focus on stability, team members and customers," Mungo Homes CEO Steven Mungo said. "It creates the highest level of opportunity for our company as a whole while allowing us to retain our culture and corporate identity."

"Mungo Homes is a natural fit for our distinguished group of homebuilders," Clayton Home Building Group President Keith Holdbrooks said. "Their pillars of success stem from a longevity in the home building industry that is over 60 years old and began when Steven's father, Michael Mungo, founded the company. The family-like culture is a direct correlation to Mungo's deep focus on team member and customer experience. Mungo's tenure in the industry is paramount, and we look forward to coupling this with the talents of our other builders to pursue innovation in housing together."

Clayton Properties Group is a division of Clayton Home Building Group and a Berkshire Hathaway company.

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