Facebook LinkedIn Twitter RSS

Local luxury homebuilder buys California development firm for $1.6B

By , - Last modified: February 5, 2014 at 10:37 AM

Horsham-based Toll Brothers Inc. has acquired the homebuilding operations of Shappell Industries LLC, a California land development and homebuilding company.

Toll Brothers purchased the company for about $1.6 billion. The purchase included nearly 5,200 home sites in the state of California.

"The portfolio of entitled land we are acquiring may be the last great concentrated assemblage of this scale and quality in coastal California," said Douglas C. Yearley Jr., Toll Brothers CEO. "The combination of the Shapell and Toll Brothers teams and land holdings gives us one of the premier platforms in several of the nation's most dynamic housing markets."

You May Have Missed...

Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy