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RYLAND GROUP INC. Calabasas, California; Builder Nails Down A Different Growth Plan.(THE NEW AMERICA)

Investor's Business Daily

| November 04, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: MARILYN MUCH

When it comes to growing his business, Chad Dreier doesn't follow the rest of the home-building pack.

At a time when most of the top players are hot on the acquisition trail, the chief executive of Ryland Group Inc. is taking the organic route.

Ryland is one of the nation's biggest home builders. It operates in 27 markets, where it's built more than 210,000 homes. In Dreier's 10 years running the company, it's made only two small buys.

Contrast that with the spate of deals involving other large, publicly traded builders the past couple of years.

In May, Hovnanian Enterprises Inc. bought Summit Homes. Last year's deals included D.R Horton Inc.'s buy of Schuler Homes, and Beazer Homes USA Inc.'s purchase of Crossmann Communities.

In 2001, Pulte Homes bought Del Webb Corp.

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