Acquisition Completed: Pacific Greystone Corp. said Monday...
- Share via
Acquisition Completed: Pacific Greystone Corp. said Monday that it has completed its previously announced acquisition of A-M Homes, a Santa Barbara-based residential builder with a major operating arm in Orange County.
Though terms of the deal were not disclosed, industry sources have said the year-old Pacific Greystone, based in Burbank, was expected to pay about $50 million in cash and stock and to assume $40 million in A-M debt.
A-M was sold by Jennings Group Ltd., Australia’s largest residential builder, and by co-founders James B. (Bart) Arujo and Michael Muench, who owned 20% of the company. Jennings becomes a minority owner of Pacific Greystone as part of the deal.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
