- Luxury home builder Toll Brothers Inc TOL has acquired StoryBook Homes, a privately-held homebuilder based in Las Vegas, Nevada, for an undisclosed sum.
- Toll Brothers expects the deal to strengthen its position in the Las Vegas market.
- Founded in 2003 by Wayne Laska and his wife Catherine Laska, StoryBook Homes has built over 1,700 homes in Las Vegas since its inception.
- StoryBook's founders and employees will remain with the company and continue to operate new home communities under the StoryBook Homes brand.
- Janet Love, current President of StoryBook Homes, will assume the role of Division President of StoryBook Homes as a division of Toll Brothers.
- Toll Brothers held $714.9 million in cash and equivalents as of April 30, 2021.
- Price Action: TOL shares closed higher by 3.86% at $60.54 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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