Sumitomo Forestry to acquire Tri Pointe Homes for $4.5bn.

Sumitomo Forestry, a Japanese logging and processing company, agreed to acquire Tri Pointe Homes, a US homebuilder, for $4.5bn. “The addition of Tri Pointe Homes represents a significant step forward in advancing our growth strategy. Tri Pointe Homes shares our focus on quality, customer experience, and a culture that empowers local operating teams. Through the acquisition, we expect to further enhance our profitability by leveraging the complementary strengths of Tri Pointe Homes and each of the five homebuilders within our group," Toshiro Mitsuyoshi, Sumitomo Forestry President and CEO.