Redrow has agreed to acquire East Midlands-based Radleigh Homes from Ark Capital Group.
The acquisition is expected to raise the number of homes developed in the region.
Radleigh Homes, which will be rebranded as Redrow, has been in operation for more than two decades and completed around 200 new homes in 2016.
The business has a pipeline of more than 1,300 plots with planning and a further 1,200 plots controlled under options in its strategic land bank.
Radleigh Homes’ 70 employees will become part of a new Redrow Homes East Midlands division based in Radleigh’s office in Pride Park, Derby.
In its financial year to the end of June 2016, Redrow completed 4,700 homes, producing a turnover of £1.4bn and a profit of £250m.
• To send feedback, e-mail shekha.vyas@estatesgazette.com or tweet @ShekhaV or @estatesgazette
