Toll Brothers—No. 11 on the 2021 Builder 100—announced it has acquired StoryBook Homes, a privately held home builder based in Las Vegas. Terms were not disclosed, but the acquisition bolsters Toll Brothers’ market position and adds to the 16 luxury home communities the company builds in across the Las Vegas area.
Founded in 2003 by Wayne and Catherine Laska, StoryBook Homes has built over 1,700 homes in Las Vegas since its inception. The company primarily serves first-time and move-up home buyers with price points ranging from the mid-$200,000s to over $600,000. StoryBook Homes has five active selling communities and owns or controls over 550 lots in the market.
“This acquisition presents an exciting opportunity to quickly add to our already fast-growing Las Vegas operations, while further diversifying our new-home offerings and price points in the market,” says Gary Mayo, group president of Toll Brothers in Nevada. “StoryBook Homes is a quality home builder with a great reputation, a talented team, excellent gross margins, and a strong land position. We look forward to adding value to their operations and also leveraging their team’s local experience.”
The company’s founders and all of their employees will remain with the company and continue to operate new-home communities under the StoryBook Homes brand. Janet Love, current president of StoryBook Homes, will assume the role of division president of StoryBook Homes as a division of Toll Brothers.
“We are thrilled to become a part of the incredible Toll Brothers team in Las Vegas,” says Wayne Laska. “Toll Brothers is a company and a brand that is second to none in the home building industry, with the scale, expertise, and financial strength to take our operations to the next level. Moreover, as a company that was also founded as a family-owned business, I know the culture at Toll Brothers will be a great fit for the people and customers of StoryBook Homes.”
Including the acquisition of StoryBook Homes, Toll Brothers has completed 14 home builder acquisitions since 1995.
David Rosen of Long Grove Capital acted as advisor to StoryBook Homes.
