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Home construction shakeup: Cincinnati company buys St. Louis' No. 2 homebuilder

Home construction shakeup: Cincinnati company buys St. Louis' No. 2 homebuilder

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ST. LOUIS — Top Cincinnati homebuilder Fischer Homes, in a move to get into the St. Louis market, is buying Olivette-based Payne Family Homes, the St. Louis region’s second-largest homebuilder.

Privately held Fischer is the 30th largest U.S. homebuilder, with over 30,000 homes built over 40 years in business, the company said. It is a top builder in Cincinnati, Indianapolis, Atlanta, plus Louisville, Kentucky, and Columbus and Dayton, Ohio.

“We have been looking for the right opportunity for further expansion into the Midwest,” Bob Hawksley, CEO of Fischer Homes, said in Thursday’s announcement. “This agreement presents a robust growth opportunity for Fischer Homes as the St. Louis housing market is showing no signs of slowing down.”

Payne, founded in 2007 by owner David Payne, has built over 2,400 homes in the St. Louis area. It is now working in 22 area communities in St. Charles, St. Louis, and northern Jefferson counties.

Payne President Ken Kruse will serve as market president of the St. Louis Division for Fischer Homes.

The sale is expected to close May 1.

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