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Clayton Homes, a component company of Berkshire Hathaway, is the United States' largest manufacturer of manufactured housing. The company is vertically integrated; it builds, sells, finances, leases, and insures manufactured and modular homes. Clayton's corporate headquarters are in Maryville, Tennessee. It operates 35 manufacturing plants in the United States and markets its products in 49 states through 448 company-owned retail outlets and more than 1300 independent retailers.[1][2] Its subsidiary Vanderbilt Mortgage and Finance, Inc., specializes in mortgages for manufactured homes, providing more than $11.0 billion in loans for more than 275,000 customers. Another subsidiary provides insurance for 160,000 families.[1]

The company was founded by Jim Clayton in 1966. The company went public in 1983, trading on the New York Stock Exchange.[3] It was acquired by Berkshire Hathaway Inc. in 2003 for $1.7 billion[4] Kevin T. Clayton, son of the founder, is current President and CEO.[2]

According to its website, Clayton owns and operates 68 manufactured housing communities and 12 subdivisions[1]. However, in July 2007 Clayton contracted to sell 65 manufactured housing communities in 11 states.[5] They produce homes under the brand names of Cavalier Homes, Clayton Homes, Crest Homes, Gideon Homes, Giles Industries, Golden West Homes, Karsten Company, Marlette Homes, Oakwood Homes, Schult Homes and Southern Energy Homes.

Clayton manufactures one- and two-story homes that range from 500 sq ft (46 m2). to 2,400 sq ft (220 m2). in floor area and from $40,000 to more than $100,000 in price.[2]

References

  1. ^ a b c About Clayton: History, Clayton Homes website (accessed October 22, 2007)
  2. ^ a b c Clayton Homes, Inc. Company Profile, Yahoo! Finance (accessed October 22, 2007)
  3. ^ http://www.sigepfoundation.org/resource/resmgr/docs/doud-clayton_endowment_journ.pdf
  4. ^ The Ballad of Clayton Homes, By Jennifer Reingold (Illustrations by Christian Clayton), Fast Company, Issue 78, January 2004, Page 76
  5. ^ "Clayton Homes getting out of land-lease business", by Michael Silence, Knoxville News Sentinel, Tuesday, July 31, 2007.

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