Dream Finders Homes to Acquire Beazer Homes, Creating Sixth-Largest U.S. Homebuilder

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Combination will create a scaled national homebuilder with complementary footprints and a clear path to accelerated growth Expected to generate significant synergies and be double-digit percentage accretive to EPS in year one Broadens the combined company's ability to serve buyers at every life stage – from entry-level homes to move-up communities – through an enhanced, fully integrated homebuying experience Beazer shareholders to receive $33.50 per share in cash Dream Finders reaffirms its full-year 2026 outlook of 9,250 homes, reflecting confidence in near-term execution and the strength of its standalone business JACKSONVILLE, Fla. & ATLANTA, August 07, 2026--(BUSINESS WIRE)--Dream Finders Homes, Inc. (NYSE: DFH) ("Dream Finders") and Beazer Homes USA, Inc. (NYSE: BZH) ("Beazer") today announced that they have entered into a definitive agreement under which Dream Finders will acquire Beazer in an all-cash transaction at an enterprise value of approximately $2.2 billion. Under the terms of the agreement, Beazer shareholders will receive $33.50 in cash for each share of Beazer common stock, representing an implied purchase price-to-book multiple of 0.8x. Beazer is a leading national homebuilder operating in 15 markets across 13 states. The company designs, builds and sells new homes across a range of communities and price points, specializing in personalized homebuilding, land development, and homebuyer financing to make homeownership more attainable. Together, the two companies will form the nation's sixth-largest homebuilder,1 with highly complementary footprints, expanded product offerings, and deeper capabilities across many of the country's largest and fastest-growing housing markets. The combination also brings together two exceptional teams, deepening the combined company's bench of experienced homebuilding talent, operational expertise, and customer-focused culture that will serve as the foundation for long-term growth. Upon closing, the combined company will operate in 26 markets and approximately 520 active communities across the Southeast, Mid-Atlantic, Texas, the West, and the Midwest – regions that represent some of the highest demand corridors in the country. With increased reach across both entry-level and move-up communities, the platform is well-positioned to serve a broader buyer base across multiple price points, while driving mean...

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