Dick and Betsy DeVos to Acquire Coppercraft Distillery

Dick DeVos is a businessman and investor from the state of Michigan. He has had many business interests throughout the country during that time frame, and even ran for Governor of the state as a Republican in 2006 (This MLive article summarizes his political dealings).

He got his start working the family business in the basement of his home because of the fact that his father was the founder of Amway (Read more about Amway’s dealings here: http://www.mlive.com/news/grand-rapids/index.ssf/2010/09/amway_heir_dick_and_betsy_devo.html). He is currently listed as the 67th richest person in the United States, with a net worth of $5.1 billion. He has had many business interests during his career and was even a majority owner of the Orlando Magic for a time. 

Dick and his wife Betsy are always looking to branch out in their business, and they recently announced that they are planning on expanding their interests to the liquor industry. Winquest Group, which is their Grand Rapids holding company, recently announced that they have begun the process to acquire the Coppercraft Distillery.  

It is still quite a bit early in the process though, because the acquisition will still take six months to complete because of state approval of the liquor license transfer. The previous owner of the distillery was Walter Catton III, and he opened in late 2013. He has been looking for someone to help him expand operations for his headquarters in Holland Township. 

“It’s been an exciting journey,” Catton told the Grand Rapids Press. 
The distillery will be a huge investment with the chance for a great pay-off for the DeVos family. They will be assuming control of a distillery that distributes to 100 locations in Michigan including stores and restaurant. Moreover, the firm also has partnerships with clients in Colorado and Illinois. 

Catton said that he hopes that the DeVoses will be able to help him expand the tasting room, in which he plans to add a tasting room. He also desires to increase the distribution of the distillery. The firm specializes in aged spirits, including whiskeys, gins, vodkas, and rums and they usually let them spend more time in the barrel for the desired effect. 

The DeVos family say they are excited about this new business venture. 

Learn more about Dick by following him on social media.