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Rayco Ltd

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January 24, 1996 | Times Staff and Wire Reports
Kaufman & Broad to Buy Texas Home Builder: The Los Angeles-based residential builder agreed to buy Rayco Ltd. of San Antonio for about $110 million in cash and the assumption of debt. The acquisition includes the title, mortgage and brokerage affiliates of privately held Rayco, the largest home builder in San Antonio, with annual revenue of $235 million. Rayco built more than 2,500 homes in the previous fiscal year. The deal, which is expected to be completed by Feb.
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BUSINESS
May 4, 1997 | JESUS SANCHEZ, TIMES STAFF WRITER
It looked like another typical corporate acquisition when giant Kaufman & Broad Home Corp. of Los Angeles purchased a smaller but fast-growing Texas home builder named Rayco. But a little more than a year after the deal was completed, it's hard to tell which company was actually taken over. Rayco's innovative building techniques and operating strategies and extensive use of consumer surveys are rapidly spreading throughout Kaufman & Broad, one of the nation's largest home builders.
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BUSINESS
May 4, 1997 | JESUS SANCHEZ, TIMES STAFF WRITER
It looked like another typical corporate acquisition when giant Kaufman & Broad Home Corp. of Los Angeles purchased a smaller but fast-growing Texas home builder named Rayco. But a little more than a year after the deal was completed, it's hard to tell which company was actually taken over. Rayco's innovative building techniques and operating strategies and extensive use of consumer surveys are rapidly spreading throughout Kaufman & Broad, one of the nation's largest home builders.
BUSINESS
January 24, 1996 | Times Staff and Wire Reports
Kaufman & Broad to Buy Texas Home Builder: The Los Angeles-based residential builder agreed to buy Rayco Ltd. of San Antonio for about $110 million in cash and the assumption of debt. The acquisition includes the title, mortgage and brokerage affiliates of privately held Rayco, the largest home builder in San Antonio, with annual revenue of $235 million. Rayco built more than 2,500 homes in the previous fiscal year. The deal, which is expected to be completed by Feb.
BUSINESS
June 5, 1998 | DARYL STRICKLAND, TIMES STAFF WRITER
Row upon row of cookie-cutter homes may soon become a relic of the past. Kaufman & Broad Home Corp., the Southland's largest home builder, has opened its first design showroom in Southern California, an innovation that could make customizing new homes as easy as choosing automobile options. Borrowing from other industries where customers can tailor autos, hamburgers, even computers to their own tastes, major home builders have turned to these showrooms as a home-selling tool.
BUSINESS
May 24, 1996 | JESUS SANCHEZ, TIMES STAFF WRITER
Stung by a drop in real estate values, Kaufman & Broad Home Corp. said Thursday that it will take an after-tax charge of about $110 million related to some of its developments in California and France--a move that will result in the company's first-ever annual loss. Los Angeles-based Kaufman & Broad, the West's largest home builder, said the write-down reflects the adoption of tougher accounting standards that require companies to value real estate more conservatively than in the past.
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