Toll Brothers to acquire Shapell Industries




Toll Brothers has agreed to purchase the home-building business of Beverly Hills, Calif.-based Shapell Industries for $1.6 billion,

the

Los Angeles Times

reported.

With the deal, Toll will acquire buildable lots in Los Angeles, the San Francisco Bay area, Orange County and northern San Diego County, the article said.

Shapell Industries was founded in 1955 by Holocaust survivor Nathan Shapell, his brother David and brother-in-law Max Webb, the article said. (Source:

Los Angeles Times,

Nov. 7, 2013.)

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