Alticor Explained

Alticor, Inc.
Foundation:1959
Location:Ada, Michigan, U.S.
Area Served:Worldwide
Key People:Steve Van Andel (chairman)
Doug DeVos (president)[1]
Revenue: US$ 9.2 billion (2010)[2]
Owner:DeVos & Van Andel families
Num Employees:13,000[3]

Alticor is a privately owned American corporation run by the DeVos and Van Andel families.[4] It was established in 1999 to serve as the parent company for a handful of business ventures, most notably the multi-level marketing company Amway and Amway Global, and a manufacturing and distribution company, Access Business Group.[5] [6]

In 2006, Alticor purchased cosmetics maker Gurwitch Products from Neiman Marcus Group Inc. and operated it as a wholly owned subsidiary until Gurwitch was acquired by Shiseido in 2016.[7]

Alticor Corporate Enterprises

Founded in 1959, Alticor Corporate Enterprises is a subsidiary holding corporation of Alticor's non-direct selling companies: Amway Hotel Corporation, Gurwitch Products, Interleukin Genetics, Metagenics, and Fulton Innovation.[8] Pyxis Innovations Inc., formed in 2000, purchased ownership in Interleukin Genetics and is a wholly owned subsidiary of Alticor Inc.[9]

AHC+Hospitality

AHC+Hospitality, formerly Amway Hotel Corporation, is the Alticor hotel subsidiary. AHC owns several hotels in Grand Rapids and the British Virgin Islands.[10]

The Amway Corporation purchased, refurbished, expanded, and renamed the Pantlind Hotel to the Amway Grand Hotel in 1981.

In February 2017, CWD Real Estate Development indicated plans to convert a downtown Grand Rapids building into an AC Hotels by Marriott with 130 rooms to be operated by AHC.[11] By May 2017, Amway Hotel Corporation changed its name to AHC+Hospitality.[10]

Notes and References

  1. Web site: Alticor President, Doug DeVos . 2008-04-04 . Alticor website . https://web.archive.org/web/20080325121759/http://www.alticor.com/resource-center/leadership/dougdevos.aspx. 25 March 2008 . live.
  2. Amway Parent Grows to $9.2 billion in 2010 . 17 February 2011. 8 March 2011.
  3. Web site: fact sheet . October 9, 2008. Alticor Website .
  4. News: DeVos, Meijer rank among richest ; Amway co-founder is 288th; supercenter founder is 605th . The Grand Rapids Press . 7 March 2008 . C1.
  5. News: Amway reorganizes, now under new parent company, Alticor . James Prichard . Associated Press . 24 October 2000.
  6. News: Amway reveals new corporate structure . 25 October 2000 . Associated Press.
  7. News: Mary Ann . Azevedo . Gurwitch Products gets ownership makeover . Houston Business Journal . American City Business Journals, Inc. . August 4, 2006 . 2008-04-04 . https://web.archive.org/web/20080226154806/http://houston.bizjournals.com/houston/stories/2006/08/07/story3.html . 26 February 2008 . live .
  8. Web site: Alticor posts sales of more than $6.3 billion in 2006 . 2008-04-04 . Alticor Website Press Releases . https://web.archive.org/web/20080325221004/http://www.alticor.com/resource-center/releases/alticor-2006-sales.aspx. 25 March 2008 . live.
  9. Web site: INTERLEUKIN GENETICS, INC. SCHEDULE 13D/A . 2008-04-04 . SEC records at Edgar . https://web.archive.org/web/20070930181212/http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1%3FSessionID=yRbNj2bI2EMjXni&ID=4623581 . 2007-09-30 . dead .
  10. News: Russell . Matthew . Technology transforms the hospitality industry in Grand Rapids . January 3, 2019 . Rapid Growth . May 11, 2017.
  11. News: Harger . Jim . New downtown hotel will add to Amway lineup . January 3, 2019 . The Grand Rapids Press . MLive Media Group . February 3, 2017.

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