Original article by: BUILDER Online
The Richmond, Virginia–based builder is merging with family-run Mungo Homes, a Clayton Properties Group brand.
Mungo Homes—a Clayton Properties Group brand—announced that Richmond, Virginia–based CraftMaster Homes is joining with the family-run, South Carolina–based builder.
Like Mungo, CraftMaster Homes began as a family-owned and operated business and has more than 20 years’ experience in new-home construction. The two companies share not only a similar history but company values that align and are based on customer service, quality, innovative building and design, and community reinvestment.
“The partnership with Clayton has given us this opportunity to grow,” says Steven Mungo, CEO of Mungo Homes. “The joining of CraftMaster Homes and Mungo Homes creates tremendous synergy and adds a strategic location to the Mungo footprint. We are excited to work together, to learn from one another, and to serve the housing needs of the Richmond area for years to come.”
Mungo Homes started building new homes in Columbia, South Carolina, in 1954, and builds in markets throughout Georgia, North Carolina, and South Carolina. While still family-run, Mungo Homes was acquired by Clayton Properties Group, a Berkshire Hathaway company, in late 2018. The partnership with CraftMaster stays consistent with Clayton Properties Group’s previous acquisitions and will help ensure long-term growth and stability for the Richmond builder.
According to the press release, only positive changes for the CraftMaster team members are expected and there will be no shifts in management, with founder and president Jeff Tunstall continuing at the helm.
“We are thrilled to align CraftMaster Homes with a company who shares our values and drive to create an enjoyable customer experience,” says Tunstall. “This opportunity will allow us to grow our team and our footprint in the Richmond housing market. We take pride in the homes we build and the lives we touch, and we are excited to be able to reach even further with our partnership with Mungo Homes.”