LandAmerica Acquires Buyers Home Warranty Company/Best Home Warranty Company
September 9, 2004
Richmond, Virginia – LandAmerica Financial Group, Inc. (NYSE: LFG), a provider of real estate transaction services, has closed on a previously announced transaction, acquiring Buyers Home Warranty Company/Best Home Warranty Company (BHWC), based in Burbank, California.
BHWC is a leading provider and servicer of home warranty contracts in California, Texas, Arizona, Colorado, Nevada, New Mexico, and Oklahoma. In California, BHWC is known as Buyers Home Warranty Company. In all other states, BHWC is known as Best Home Warranty Company.
"We are excited about capitalizing on LandAmerica's national presence by opening up more markets for our home warranty services," says Ray Adams, Founder and President of BHWC. "We're especially pleased to be part of a company that shares our fundamental belief that service to the customer takes priority." Adams will continue in his role as President of BHWC and will participate at the executive level on all strategic initiatives.
"We are pleased to add home warranty to our ever-increasing roster of expanded real estate services — especially through such a reputable firm as BHWC," says Charles H. Foster, Jr., Chairman and Chief Executive Officer of LandAmerica. "This is great news for our REALTOR® customers and another step forward for LandAmerica."
Source: LandAmerica Financial Group, Inc.