HomeServices Makes Fourth Acquisition this Year
Minneapolis-based HomeServices of America, Inc., is continuing its buying spree with the acquisition of Branson, Missouri-based Tri-Lakes Realtors.
Financial terms of the deal, which was announced Tuesday, were not disclosed.
HomeServices of America is a subsidiary of Warren Buffett’s Omaha, Nebraska-based conglomerate, Berkshire Hathaway. It is also the parent company of Edina Realty.
Tri-Lakes has more than 40 sales associates in three offices. The company will merge with Carol Jones Realtors, which HomeServices acquired in 1998, and the merged entity will operate as CJR Tri-Lakes and employ more than 220 associates. Rick Witeka, president of Tri-Lakes Realtors, will serve as general manager of the merged company.
“Tri-Lakes Realtors is a respected company with long-term ties to their community,” HomeServices Chairman and CEO Ron Peltier said in a statement. “This transaction reinforces our commitment to expanding Carol Jones’ footprint to better serve the real estate needs of new and existing clients throughout southwest Missouri.”
The Tri-Lakes deal represents HomeServices’ fourth acquisition in 2012 as the company continues to expand nationally. Earlier this year, the company bought Oregon-based Prudential Northwest Properties, Washington-based Prudential Northwest Realty Associates, and Connecticut-based Prudential Connecticut Realty.
According to a report by the Star Tribune, HomeServices now has locations in 23 states, employing 17,000 sales agents and 2,300 additional employees.
Peltier told the Star Tribune that the company has no plans to slow its growth, and it hopes to complete two or three more acquisitions by the end of the year.