Houston-based Company Would Add to South Central Presence
American Homestar Corporation, a Houston-based company that runs a pair of home building facilities and 19 retail locations, is set to be acquired by Cavco Industries, the country’s third largest manufactured housing builder.
American Homestar is best known for its brand Oak Creek Homes.
In addition to building and selling homes, American Homestar offers a small number of manufactured home loans and acts as an agent for third party insurers. It has 800 employees, and recent annual revenue of about $190 million. Net income was $16.6 million during the most recent 12 months. During that time, American Homestar produced more than 1,600 homes.
Cavco stated in a prepared release that it will acquire American Homestar for $190 million in cash, subject to customary purchase price adjustments. The acquisition is intended to be funded entirely from the company’s cash on hand and is expected to close in the third quarter of fiscal year 2026, subject to applicable regulatory approvals and the satisfaction of certain customary closing conditions.
“Throughout the acquisition process, we developed a tremendous respect for what Buck Teeter, Dwayne Teeter, and the entire American Homestar team have built,” Cavco President and CEO Bill Boor said. “For decades, they guided the company through industry downturns and challenges, consistently adapting and ultimately thriving.
“American Homestar is a leader in our industry because it embodies the Teeters’ values and focus on providing quality homes for deserving families,” Boor said. “We at Cavco are grateful for their trust and are excited to join forces in the South Central U.S.”
American Homestar was founded in 1971 by Buck Teeter, and is now run by his son, Dwayne Teeter.
“American Homestar focused on providing high-quality, affordable housing while also fostering a stable and rewarding work environment for its employees. As we enter this exciting new alliance with Cavco, we know this combination is a perfect cultural fit and that our people will be part of a dynamic, growing company, well-positioned to compete in an ever-changing environment,” Dwayne Teeter said. “We thank Bill Boor and the entire Cavco team for their interest in American Homestar and their commitment to making this transaction happen.”
In addition to implementation of shared best practices, the acquisition provides the opportunity for meaningful cost, purchasing, and product optimization synergies. It should strengthen Cavco’s position in the South-Central U.S, providing an increased presence across Texas and surrounding states.
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