Alimentos Polar International, the U.S. subsidiary of Venezuelan food-and-beverage conglomerate Empresas Polar, has acquired Ricos Products Co., the fifth-generation San Antonio family business widely credited with originating concession nachos. Terms were not disclosed.
Founded in 1909, Ricos built a global footprint supplying nacho cheese sauce, tortilla chips, and popcorn to stadiums, movie theaters, and branded retail accounts across more than 80 countries. The company will remain headquartered in San Antonio under its current management team, keeping continuity for the trade customers and concession operators that depend on its supply chain.
Why the Deal Makes Sense
For Empresas Polar — a Caracas-founded, third-generation family company whose U.S. portfolio already spans precooked corn flour (Harina P.A.N.), frozen foods, mayonnaise, milk modifiers, and malt beverages — Ricos fills a gap in the snack and condiment aisle. The acquirer has operated on U.S. soil for more than 15 years, opening a Florida brewing and malt-beverage facility in 2010 and an International Grains and Cereals plant in Greenville, Texas, in 2014. Adding Ricos extends that footprint into the fast-moving concession and foodservice-at-cstore channel, where nacho cheese dispensed programs remain a durable impulse category.
"In Empresas Polar we found the right steward for Ricos: a company that shares our heritage as a family-built food company and our passion for the Ricos brand," said Tony Liberto, CEO of Ricos. "Their long-term commitment will allow us to accelerate our growth and innovation, expand our reach and keep delivering high-quality products to our customers."
Lorenzo Mendoza, President and CEO of Empresas Polar, framed the acquisition as a platform for international distribution. "Ricos is a true American original," he said. "Our commitment is to build on everything that makes Ricos special — its people, its San Antonio roots, and the quality and traditions its customers have come to trust — while investing in the company's continued growth and bringing its products to even more consumers around the world."
C-Store Channel Relevance
For convenience retailers, Ricos is a known commodity on the roller-grill and dispensed-snack counter. Nacho cheese sauce is a perennial back-of-house workhorse, pairing with tortilla chips for a high-margin impulse grab that requires minimal labor. Branded concession programs built around Ricos product help smaller operators differentiate their foodservice sets without building from scratch. Empresas Polar's stated intent to invest in growth and expand global reach suggests the supply chain behind those programs should remain stable — and potentially broaden as the parent leverages its existing U.S. manufacturing and logistics infrastructure.
The transaction was advised on the sell side by BofA Securities (financial) and Norton Rose Fulbright (legal). Balandra Capital advised Empresas Polar on the financial side, with Skadden handling legal.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.
