OREANDA-NEWS. PulteGroup, Inc. (NYSE: PHM) announced today completion of its previously announced agreement to acquire certain homebuilding assets of John Wieland Homes and Neighborhoods ("Wieland"), one of the country's premier builders of move-up and luxury homes, from affiliates of Wheelock Street Capital, L.L.C. and the Wieland family. 

The Company expects this transaction will be immediately accretive to earnings and cash flows. 

Headquartered in Atlanta, Wieland ranks among the country's 100 largest homebuilders and is a leading builder of luxury homes in Atlanta, Charleston, Charlotte, Nashville and Raleigh; all markets in which PulteGroup currently operates. 

About PulteGroup

PulteGroup, Inc. (NYSE: PHM), based in Atlanta, Georgia, is one of America's largest homebuilding companies with operations in approximately 50 markets throughout the country.  Through its brand portfolio that includes Centex, Pulte Homes, Del Webb and DiVosta Homes, the Company is one of the industry's most versatile homebuilders able to meet the needs of multiple buyer groups and respond to changing consumer demand.  PulteGroup conducts extensive research to provide homebuyers with innovative solutions and consumer inspired homes and communities to make lives better.

About John Wieland Homes and Neighborhoods

With a legacy dating back to 1970, John Wieland Homes and Neighborhoods currently builds in Atlanta, Charleston, Charlotte and Raleigh, and Nashville. In its four-decade history, the John Wieland Homes and Neighborhoods brand has won more than 600 awards for excellence, including National Builder of the Year, the National Housing Quality Award and the industry's top award in 2005, America's Best Builder.  Widely recognized for excellence in the move-up market for its award-winning home design, quality and neighborhood planning, the John Wieland Homes and Neighborhoods portfolio offers homes and townhomes from $200,000 to over $1 million.