Hovnanian Enterprises Inc., a homebuilder based in Red Bank, N.J., has acquired Brighton Homes, Houston, for an undisclosed cash price.Hovnanian said the purchase, combined with its earlier acquisition of the Houston-based Parkside Homes, is expected to make the company the seventh-largest homebuilder in the Houston market. Ara K. Hovnanian, president and chief executive of Hovnanian, said the company will run Brighton and Parkside as separate operating divisions but will, in addition, "leverage their combined strengths." Hovnanian can be found on the Web at http://www.khov.com.
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