Edina Realty Parent Buys Another Firm, This One in MO
Just a few weeks after announcing the purchase of a brokerage firm in California, HomeServices of America, which owns Edina Realty, said Monday that it has acquired Prudential Gaslight Realtors—a small Missouri brokerage.
Financial terms of the deal were not disclosed.
The acquisition is the latest in a series of recent purchases made by HomeServices, a subsidiary of Warren Buffett’s Omaha, Nebraska-based conglomerate Berkshire Hathaway. The company bought at least five firms in 2012—including another one in Missouri: Branson-based Tri-Lakes Realtors.
According to HomeServices, Prudential Gaslight Realtors, based in Blue Springs, Missouri, will be rebranded Prudential KC Realty “to position the company for regional growth in Kansas and Missouri.”
HomeServices said it aims to grow its footprint within the greater Kansas City market, where it already operates real estate brokerage Reece and Nichols Realtors.
“Our goal is to grow HomeServices’ brands through the ongoing sales and marketing process, as well as through strategic acquisitions similar to this one,” HomeServices Chairman and CEO Ron Peltier said in a statement.
HomeServices in October bought a majority stake in two brokerage franchises, Prudential Real Estate and Real Living Real Estate, and announced plans to create a new national franchised network called Berkshire Hathaway HomeServices. A HomeServices spokeswoman couldn’t immediately be reached Tuesday morning, but the Star Tribune reported that Prudential KC will join more than a dozen other brokerages later this year in the launch of that new national network.
HomeServices, which has a presence in 21 states, said in October that the new network would more than quadruple its network of about 16,000 brokers.
Meanwhile, Peltier recently told the Star Tribune that he expects to announce another four or five acquisitions this year.
“We are delighted to expand our services in Kansas City,” Peltier said in a HomeServices-issued news release. “And we continue to look for additional opportunities, both here and throughout other major markets in the U.S.”