The Ryland Group Announces an Agreement to Acquire the Operations of
LionsGate Homes in Dallas, Texas
WESTLAKE VILLAGE, Calif. -- May 10, 2013
The Ryland Group, Inc. (NYSE: RYL), today announces that it has entered into a
definitive agreement to acquire the Dallas-Fort Worth operations and assets of
LionsGate Homes. The LionsGate acquisition has the potential to provide Ryland
with an ongoing operation in Dallas, approximately 885 lots and homes for
future sales. LionsGate Homes currently operates in 15 active communities in
the Dallas/Ft. Worth market.
The purchase of LionsGate Homes would be Ryland’s third acquisition in the
last eleven months following its purchase of the assets of Timberstone Homes
in Charlotte and Raleigh in July of 2012, and Trend Homes in Phoenix in
December of 2012.
Headquartered in Southern California, Ryland is one of the nation’s largest
homebuilders and a leading mortgage-finance company. Since its founding in
1967, Ryland has built more than 300,000 homes and financed more than 245,000
mortgages. The company currently operates in 14 states across the country and
is listed on the New York Stock Exchange under the symbol “RYL.” For more
information, please visit www.ryland.com.
For more information, please contact Drew Mackintosh, Vice President of
Investor Relations and Communication at Drew.Mackintosh@ryland.com.
Safe Harbor Statement
Certain statements in this press release may be regarded as “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995, and may qualify for the safe harbor provided for in Section 21E of
the Securities Exchange Act of 1934, as amended. These forward-looking
statements represent Ryland’s expectations and beliefs concerning future
events, and no assurance can be given that the future results described in
this press release will be achieved. These forward-looking statements can
generally be identified by the use of statements that include words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “foresee,” “goal,”
“intend,” “likely,” “may,” “plan,” “project,” “should,” “target,” “will” or
other similar words or phrases. All forward-looking statements contained
herein are based upon information available to the Company on the date of this
press release. Except as may be required under applicable law, the Company
does not undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events, or
The Ryland Group, Inc.
Drew Mackintosh, 805-367-3722
VP, Investor Relations and Corporate Communications
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