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Clayton Homes, a component company of Berkshire
Hathaway, is the United States' largest manufacturer of manufactured housing.
The company is vertically integrated; it builds, sells, finances, leases, and
insures manufactured and modular homes. Clayton's corporate headquarters are in
Maryville, Tennessee. It operates 35 manufacturing plants in the United States
and markets its products in 49 states through 448 company-owned retail outlets
and more than 1300 independent retailers. Its subsidiary Vanderbilt Mortgage
and Finance, Inc., specializes in mortgages for manufactured homes, providing
more than $11.0 billion in loans for more than 275,000 customers. Another
subsidiary provides insurance for 160,000 families.
The company was founded by Jim Clayton in 1966. The
company went public in 1983, trading on the New York Stock Exchange. It was
acquired by Berkshire Hathaway Inc. in 2003 for $1.7 billion. Kevin T. Clayton,
son of the founder, is current President and CEO.
According to its website, Clayton owns and operates
68 manufactured housing communities and 12 subdivisions However, in July 2007
Clayton contracted to sell 65 manufactured housing communities in 11 states.
They produce homes under the brand names of Cavalier Homes, Clayton Homes,
Crest Homes, Gideon Homes, Giles Industries, Golden West Homes, Karsten
Company, Marlette Homes, Oakwood Homes, Schult Homes, Southern Energy Homes and
Wimbledon Properties.
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