Indianapolis-based Arbor Homes has acquired Elite Homes in Kentucky. Financial terms were not disclosed, however Arbor Homes says it plans to use the deal to expand its portfolio to the Louisville market.
Officials from Arbor say the company is committed to maintaining the Elite Homes brand of providing luxury homes for the move-up market. The company says it also plans to add entry-level homes under its brand, helping to fill a gap in the into the Louisville community market.
"Elite and Arbor share a common culture with a commitment to excellence and expertise as well as a dedication to providing the best Team Member experience," said Arbor President Curtis Rector. "After meeting Joe and the entire Elite team, we immediately recognized their level of expertise and commitment to building high-quality homes. The Elite name, with both contractors and homeowners, is second to none in Louisville, and we’re excited about the potential opportunities this partnership can bring to future homeowners."
Arbor Homes did not state whether any jobs would be affected.