Pacific Home Sales of Visalia is merging with DuPar and Angel Inc. of Santa Rosa to form California's leading retailer in manufactured housing and to focus on affordable home in rural markets of the San Joaquin Valley.

The company will carry the DuPar and Angel name with headquarters in Santa Rosa.

"This merger will easily make DuPar and Angel the largest manufactured housing retail company in California," said Robert T. Angel, president and chief operating officer in Santa Rosa.

He cited sales exceeding $60 million in 16 retail locations.

keno tips online The merger follows DuPar and Angel's business plan for the last two years, Angel said:
"The California manufactured home market has led the nation for the last two years in increased new-home sales with increases each year over 30%."
"This growth and acquisition strategy has led to DuPar and Angel being one of the largest manufactured housing retailers in California with 10 sales centers and retail sales of approximately $30 million per year prior to this merger."

The addition of Pacific Home Sales, which has five centers, in addition to its Visalia operation, will add $25 million to the merged operation with sales volume twice its top California competition, Angel said.

George Bravante, president of pacific Home Sales, will serve as chief financial officer of the merged company. The two companies have worked out all terms, leaving only paperwork.

The merger unites two of the top five California companies in manufactured housing.

The state's strong economy and the third record year in the sale of manufactured homes in California have attracted the attention of national companies to the market, Bravante said.

The merged company intends to align itself with a national firm.

Bravante said the combined company will appeal to state and county authorities to be more accepting of manufactured housing developments.

"There's a stigma against manufactured housing in general," he said.

luxury hotels in Porto But there's also a need for affordable housing, especially in rural areas, Bravante said. Other states have a more accepting attitude toward manufactured housing, reflected in costs and volume.

In such stats as Texas, North Carolina, Georgia and Oklahoma, between 20,000 and 30,000 units go in each year.

"In California, we do 4,000 to 6,000 units per year," Bravante said.

Assembly-line techniques keep production costs low, but California zoning and other restrictions raise the cost of lots.

"In a typical housing development, a finished lot costs between $15,000 and $30,000," Bravante said. "We have houses that cost $30,000 - three bedrooms, two baths, 1,000 square feet." Four-bedroom homes could sell for $35,000 to $45,000.

"My vision," Bravante said, "is to find many lots in relatively OK areas where we can deliver a finished lot for $12,000," Bravante said. "Payments would run $350 to $400 per month."

That would be lower than many prospective buyers already pay in rent.

ERROR MSGAngel and Bravante said the merger should be completed by June 30.