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Clayton Homes, a component company of Berkshire Hathaway, is the United States' largest manufacturer of manufactured housing and modular homes.[not in citation given] The company is vertically integrated; it builds, sells, finances, and insures manufactured and modular homes. Additionally, the company builds and sells commercial and educational buildings. 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. Another subsidiary, HomeFirst Agency, 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.
As of 2007, the company website reported that Clayton owned and operated 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 Buccaneer Homes, Cavalier Homes, Clayton Homes, Crest Homes, Giles Industries, Golden West Homes, Hart Housing, Karsten Company, Marlette Homes, Norris Homes, Oakwood Homes, Schult Homes, Southern Energy Homes and TruMH.
Clayton manufactures one- and two-story homes that range from 500 sq ft (46 m2) to 2,400 sq ft (220 m2) in floor area and from below $40,000 to more than $100,000 in price.