Arizona-based Taylor Morrison, a leading North American home builder, has entered into a purchase agreement to acquire Texas home builder Darling Homes for an undisclosed price. The acquisition is subject to completion of a number of conditions and approvals prior to closing.

Darling Homes builds homes for move-up buyers in 28 communities in the Dallas-Fort Worth Metroplex and Greater Houston Area markets. Darling has built homes in the Stonebridge Ranch and Tucker Hill communities of McKinney. Allen, Frisco and Prosper are other Collin County cities featuring residences built by Darling Homes.

"We're honored to add a respected builder like Darling Homes to our company," said Sheryl Palmer, CEO and President of Taylor Morrison. "However, the real winners are Texas home buyers, who will benefit from the increased selection of homes that we will offer going forward."

"As home buyers continue to demand top quality homes in sought-after desirable communities, we are pleased that Darling and Taylor Morrison will operate as complementary brands to serve our customers," said Bill Darling, founder of Darling Homes.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison is a builder and developer of single-family detached and attached homes. Under the Taylor Morrison® brand, the Company operates in Arizona, California, Colorado, Florida and Texas. Under the Monarch brand, the Company operates in Ontario, Canada, where the Company builds and develops single-family detached and attached homes in both Toronto and Ottawa. Monarch also builds high-rise condominiums in Toronto. Taylor Morrison serves a wide array of home buyers, including entry-level, move-up, luxury and active adult customers, through its innovative product mix. Visit their website at taylormorrison.com.

About Darling Homes

Darling Homes was founded in 1987 when three brothers set out to create homes that would stand the test of time and delight home buyers for years to come. Darling Homes is the recipient of numerous home building awards and consistent, positive customer satisfaction surveys. The company currently builds in the Dallas-Fort Worth Metroplex and Greater Houston Area markets. Visit their website at darlinghomes.com.