secwatch.observer — SEC 8-K summary
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Issuer:     CAVCO INDUSTRIES, INC. (CVCO)
CIK:        0000278166
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0000278166-22-000061
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cavco signs binding offer to acquire Solitaire Homes for $93M cash
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- Purchase price $93M, subject to adjustments; expected close early Q4 fiscal 2023.
- Solitaire has 4 manufacturing facilities, 22 retail stores, 950 employees; FY2021 pro-forma EBITDA $16.5M on $156.3M revenue.
- Expands Cavco's Southwest footprint and adds cross-border manufacturing in Mexico.
- Entirely cash-funded; Cavco expects transaction to be accretive to earnings and cash flow.
- Solitaire produced ~1,600 homes in 2021 from NM and Mexico plants; Duncan, OK facility restarted in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/278166/000027816622000061/0000278166-22-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/278166/000027816622000061/cvco-20221026.htm
  HTML page:      https://secwatch.observer/filing/0000278166-22-000061

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