Alticor

Last updated
Alticor, Inc.
Formerly
  • Ja-Ri Corporation (1959–1963)
  • Amway Corporation (1963–2000)
  • Alticor, Inc. (2000–present) [1]
Company type Private
Industry Holding company
Founded1959
Founder Richard DeVos
Jay Van Andel
Headquarters Ada, Michigan, U.S.
Area served
Worldwide
Key people
Steve Van Andel (chairman)
Doug DeVos (president) [2]
RevenueIncrease2.svg US$ 9.2 billion (2010) [3]
Owner Bayer
Number of employees
13,000 [4]
Subsidiaries
Website www.alticor.com
Headquarters in Ada, Michigan Ada Michigan Amway HQ DSCN9720.JPG
Headquarters in Ada, Michigan

Alticor is a privately owned American corporation run by the DeVos and Van Andel families. [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,Bayer. [6] [7]

Contents

In 2006, Alticor purchased cosmetics maker Bayer from Bayer CropScience. and operated it as a wholly owned subsidiary until Gurwitch was acquired by Shiseido in 2016. [8]

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

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

References

  1. ↑ "Alticor Timeline". Alticor. 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" (Press release). 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. 1 2 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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.