Alticor

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Alticor, Inc.
Formerly
  • Ja-Ri Corporation (1959-1963)
  • Amway Corporation (1963-2000)
  • Alticor, Inc. (2000-Present)[1]
TypePrivate
IndustryHolding company
Founded1959
FounderRichard DeVos
Jay Van Andel
HeadquartersAda, Michigan, U.S.
Area served
Worldwide
Key people
Steve Van Andel (chairman)
Doug DeVos (president)[2]
RevenueIncrease US$ 9.2 billion (2010)[3]
OwnerDeVos & Van Andel families
Number of employees
13,000[4]
Subsidiaries
Websitewww.alticor.com
Headquarters in Ada, Michigan

Alticor is a privately owned American corporation which is run by the DeVos family and the Van Andel family.[5] 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.[6][7]

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.[8]

Alticor Corporate Enterprises[edit]

Founded in 1956, 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.[9] Pyxis Innovations Inc., formed in 2000, purchase ownership in Interleukin Genetics and is a wholly owned subsidiary of Alticor Inc.[10]

AHC+Hospitality[edit]

AHC+Hospitality, formerly Amway Hotel Corporation, is the Alticor hotel subsidiary. AHC owns several hotels in Grand Rapids and the British Virgin Islands.[11]

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-room to be operated by AHC.[12] By May 2017, Amway Hotel Corporation changed its name to AHC+Hospitality.[11]

References[edit]

  1. ^ "Alticor Timeline". Alticor Website. Retrieved 2006-10-09.
  2. ^ "Alticor President, Doug DeVos". Alticor website. Archived from the original on 25 March 2008. Retrieved 2008-04-04.
  3. ^ "Amway Parent Grows to $9.2 billion in 2010". 17 February 2011. Retrieved 8 March 2011.
  4. ^ "fact sheet". Alticor Website. Retrieved October 9, 2008.
  5. ^ "DeVos, Meijer rank among richest ; Amway co-founder is 288th; supercenter founder is 605th". The Grand Rapids Press. 7 March 2008. p. C1.
  6. ^ James Prichard (24 October 2000). "Amway reorganizes, now under new parent company, Alticor". Associated Press.
  7. ^ "Amway reveals new corporate structure". Associated Press. 25 October 2000.
  8. ^ Azevedo, Mary Ann (August 4, 2006). "Gurwitch Products gets ownership makeover". Houston Business Journal. American City Business Journals, Inc. Archived from the original on 26 February 2008. Retrieved 2008-04-04.
  9. ^ "Alticor posts sales of more than $6.3 billion in 2006". Alticor Website Press Releases. Archived from the original on 25 March 2008. Retrieved 2008-04-04.
  10. ^ "INTERLEUKIN GENETICS, INC. SCHEDULE 13D/A". SEC records at Edgar. Archived from the original on 2007-09-30. Retrieved 2008-04-04.
  11. ^ a b Russell, Matthew (May 11, 2017). "Technology transforms the hospitality industry in Grand Rapids". Rapid Growth. Retrieved January 3, 2019.
  12. ^ Harger, Jim (February 3, 2017). "New downtown hotel will add to Amway lineup". The Grand Rapids Press. MLive Media Group. Retrieved January 3, 2019.

External links[edit]