WEST MICHIGAN — The latest entry into Mary Free Bed Rehabilitation Hospital’s statewide care network could very well end up as much more than a partner.

ADA — Amway plans to invest $180 million, a majority of it in West Michigan, to expand its Nutrilite brand of vitamins and dietary supplements. 
The expansion will occur at four Amway locations – two in Ada, plus Buena Park, Calif., and Quincy, Wash.


GRAND RAPIDS — Ionia-based Independent Bank Corporation (NASDAQ: IBCP) said its bank subsidiary signed a definitive agreement to sell 21 of its branches in Battle Creek and Northeast Michigan to Midland, Mich.-based Chemical Bank for about $12.4 million. The transaction, which is expected to close in the third quarter, will transfer approximately $420 million of customer deposits to Chemical Bank.

GRAND RAPIDS — High-end fashion retailer A.K. Rikks will soon slip into a comfortable and stylish new space on 28th Street.

The key to a successful acquisition is the careful attention and process a company brings to it.

KALAMAZOO — A life sciences company developing spider venom-based bio-pesticides tapped new and existing investors to raise $10.2 million in Series B preferred stock financing.

KALAMAZOO – A West Michigan-based life sciences company with Pennsylvania roots has secured $2.0 million in seed financing.

HOLLAND — Office furniture manufacturer Haworth Inc. announced Wednesday that it sold one of its companies, the Quebec, Canada-based Groupe Lacasse.

Huntington National Bank will expand its presence in Michigan significantly by opening more than 80 branches inside Meijer Inc. stores across the state in the coming years.

A consortium of companies including casual footwear maker Wolverine World Wide Inc. today announced plans to acquire Collective Brands Inc. for nearly $2.0 billion, including the assumption of debt. The long-rumored transaction will be "transformational" and a "game changer", according to executives of Rockford, Mich.-based Wolverine.

Mel Trotter Ministries has purchased the former River City Slims bar at 243 Commerce Avenue SW, according to Sandra Gaddy, VP of development and marketing for Mel Trotter.

A round-up of this week's activity on the West Michigan deal front.   

Amway scion and ArtPrize founder Rick DeVos has launched a new venture capital fund that blends elements of elevator pitch competitions, business mentoring and community engagement.

Just nine months after it opened the doors on a new facility in the heart of downtown Grand Rapids, the Urban Institute of Contemporary Arts announced its executive director has stepped down as part of a restructuring plan that it hopes "will stabilize the institution's declining financial situation."

Mezzanine financing is becoming a viable option for small and second-stage businesses, say two veteran Chicago-based financiers.  The pair talked about the mezzanine capital's downstream move at the April meeting of the Association for Corporate Growth Western Michigan chapter.