Longtime Columbia homebuilder Mungo Homes has been purchased by Clayton Properties Group of Tennessee, according to a news release.
Mungo Homes, which built extensively throughout the greater Irmo area, will join the Berkshire Hathaway-owned Clayton Properties Group to become one of the nation’s top 20 single-family homebuilders, according to Builder magazine.
“If you’re going to sell your lifetime business, these are the gold standard of people to do business with,” co-owner Stewart Mungo said of Berkshire Hathaway. “These guys, they’ve bought several industries where they haven’t changed a thing ... we got great people, and that’s what they wanted.”
Stewart Mungo and his brother Steven will continue to have a hand in the business and do not anticipate losing any of the 100-plus jobs the company has in the Midlands area, Mungo told The State.
Mungo Homes was founded in 1954 by the late Michael J. Mungo in Columbia. Mungo first expanded outside of the Midlands in 2003 to Charleston, according to the news release. Mungo now builds homes in eight markets throughout South Carolina, North Carolina, Georgia and Alabama, making it the largest builder to join Clayton Properties Group, according to the Monday news release.