Dick Devos Enters The Liquor Business With Liquor Company Acquisition

Michigan billionaire Dick DeVos and his wife Betsy are springing forth into the liquor business. Mr. DeVos’ holding company, Windquest Group which owns and operates investments and stakes of Dick and Betsy DeVos is on track to complete the acquisition of a Michigan based brewing company called Coppercraft Distillery. 

Although the acquisition of Coppercraft Distillery by Dick DeVos and his wife Betsy DeVos has yet to be confirmed, the DeVos’ holding company is already being listed as the distillery’s resident agent. As resident agent, Windquest Group will have access to all mail documents pertaining to Coppercraft Distillery. Resident agent status does not mean however that the DeVos’ are now the actual owners, it just means they have a controlling stake in the company for now. 

The Liquor Control Commission of Michigan says they approved the liquor license transfer on January 20th, to Dick and Betsy DeVos. That does not mean that that they have ownership of the distillery right now though. Liquor license transfer can be slow and it could be up to half a year before Dick and Betsy are official given the liquor license to Coppercraft Distillery. Once Dick and Betsy DeVos have had the liquor license transferred to them from current founder and owner Walter Catton III, then the DeVos’ will be official owners of Coppercraft Distillery. 

I think Mr. DeVos is making another smart investment, and he is investing locally too. Coppercraft Distillery is located a short distance away from Grand Rapids, Michigan which is Dick’s hometown. Mr. DeVos has proven just how philanthropic he is when it comes to helping his hometown and the folks who live there. He has set up and funded art competitions, sculpture parks and many more activities in Grand Rapids. He supports schools there and even helped create a specialty school that focuses on teaching kids aviation. 

Dick DeVos is an heir to the Amway family fortune. His father, Richard DeVos helped found the company in 1959. Dick has served as CEO of Amway for a period of 9 year spanning from 1993 to 2002. The investment in Coppercraft Distillery is not the first time that Dick is investing in the food and wine industry. He has previously invested in companies such as Reserve Wine and Foods and Boxed Water, which are also based in Holland Township. Dick continues to show a strong interest in helping the Michigan community grow and thrive economically.

He has been involved in giving back to his community in many ways, especially financially through his charitable foundation. Dick helped found an aviation high school for students interested in flight (as he is a pilot himself as well).

Dick is also involved in politics in his local community and nationally. He has given a lot to the Republican party and his donations have been noticed and even mentioned in the Netflix House of Cards series which you can read more about here: http://www.mlive.com/business/west-michigan/index.ssf/2015/03/dick_devos_weighs_in_on_house.html

Learn more about Dick’s life and career by visiting his New Netherland Institute profile.

 

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