Investors buying majority stake in hard cider maker
A local investment group is buying a major share of a hard cider company in the region.
RC Investors, a DeVos family investment group, is set to hold 51 percent of Ridge Cider Co. in Grant, at 351 W. 136th St., pending approval by the Michigan Liquor Control Commission, or MLCC.
Current Ridge Cider owners Bruce Rasch and Matthew DeLong will see their shares move to 12.5 percent and 36.5 percent.
RC Investor paperwork was filed with the state in April and consists of Richard M. DeVos III, Richard M. DeVos Jr., Ryan E. DeVos and Nathan M. Lowery.
Ridge Cider Co. opened in May 2015, founded by Rasch and DeLong.
The company makes hard ciders and apple wines. It also provides "cider-lovers" and home brewers with fresh, unpasteurized cider.
Co-founder Rasch is one of the state’s largest apple growers.