Champion Retail Housing, a subsidiary of Troy-based Champion Homes Inc., today announced it has agreed to acquire Iseman Homes Inc. in South Dakota and certain affiliated companies, including its 10 retail sales centers in the Dakotas, Minnesota, Montana, Nebraska, and Wyoming.
The acquisition, terms of which were not disclosed, is intended to enhance Champion’s ability to strengthen distribution from its nearby manufacturing facilities, furthering its commitment to integrated growth.
“We are excited to welcome the Iseman Homes team to the Champion family,” says Tim Larson, president and CEO of Champion Homes. “Iseman has been a valued retail customer of Champion for many years. This acquisition underscores our long-term strategy to expand our retail footprint, deliver timely, market-relevant products, and elevate the homebuying experience for our customers.”
Iseman Homes has operated for years as an independent retailer, generating approximately $40 million in annual revenue. Its management team will stay on, working closely with Champion to drive business growth.
By aligning Iseman’s local presence with Champion’s captive retail best practices, the combined organization seeks to deliver more seamless product integration and operational efficiencies.
“Our experienced retail team is excited to join Champion,” says Ken Ward, president of Iseman Homes. “We share a commitment to customer service and innovation and are excited to contribute to Champion’s mission of advancing offsite construction and improving access to high-quality, affordable housing.”
According to Champion, the acquisition aligns with its strategy to grow its vertically integrated model — connecting factory and customer through a stronger, streamlined retail channel. The completion of the acquisition is subject to the satisfaction or waiver of certain customary closing conditions and is expected to close during Champion’s fiscal first quarter ending June 30.
In Related News: Champion Homes reported its fiscal year 2025 net sales were $2.5 billion, which represents an increase of 22.7 percent, or $458.6 million, compared to fiscal 2024.
The increase in net sales was primarily driven by the Regional Homes acquisition and higher organic U.S. homes sales compared to prior year, the company says.
The U.S. housing segment also delivered higher ASPs as more homes were sold through captive retail compared to fiscal 2024.
Gross profit increased $178.2 million to $664.0 million in fiscal 2025 (up 36.7 percent), compared to $485.8 million in the prior year period.
Gross margin expanded by 270-basis points to 26.7 percent of net sales for fiscal 2025, compared to fiscal 2024, reflecting the impact of increased home sales, increased sales through captive retail, and the impact of the $34.5 million water intrusion liability in fiscal 2024 that did not reoccur in fiscal 2025.
