Builders kept their New Year’s resolutions to grow with a handful of holiday acquisitions. KB Home now builds in South Carolina, thanks to the purchase of Palmetto Traditional Homes, which closed 570 homes for $90 million in 2003. Standard Pacific Corp. expanded its Northern California business with the acquisition of Lucas and Mercier Development’s Sacramento home building operations. Finally, Meritage Corp. bought Citation Homes of Southern California, which is expected to provide Meritage with 175 closings and $50 million in revenue in 2004. Terms were not disclosed for the three deals.
