Fleetwood Manufactured Homes
Cavco and its partner, Third Avenue Trust Value Fund, offered $21.8 million for some of Fleetwood’s manufactured housing assets, and Cavco agreed to buy Fleetwood’s idled plant in Woodland, California for $4.8 million.
Fleetwood Manufactured Homes are very popular in communities as well as on private property. Fleetwood announced on their website that Cavco had an investment partner involved in the purchase, Third Avenue Trust Value Fund. The winning bid was determined through an auction held by the company, in consultation with the Committee of Creditors, and a Court hearing to approve the sale is scheduled for August 12, 2009 in Riverside, California.
Cavco is one of the largest producers of manufactured homes in the United States. Headquartered in Phoenix, Ariz., Cavco opened for business in 1965. Cavco’s factory-built homes are produced under various trade names and in a variety of floor plans and price ranges. The company employs approximately 600 people and operates two manufacturing plants.
