Two family-built food companies join forces; Ricos will remain headquartered in San Antonio under its current management team
SAN ANTONIO, Oct. 30, 2026 /PRNewswire/ — Empresas Polar, a family-owned Venezuelan food and beverage company founded in 1941, today announced that its subsidiary, Alimentos Polar International, Inc. (“Alimentos Polar”), has acquired Ricos Products Co. (“Ricos”), a fifth-generation, family-owned San Antonio company and a leading marketer and supplier of nacho cheese sauce, chips, popcorn, and other products to retailers and concession stands worldwide.
Ricos’ operations and management team will remain in place, and the company will continue to be headquartered in San Antonio. Terms of the transaction were not disclosed.
“Today marks an exciting new chapter in the Ricos story. Our family is very proud to have run a successful five-generation family business for over a century,” said Tony Liberto, family member and Chief Executive Officer of Ricos. “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. 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. Our family would like to thank our loyal business partners, customers and, most importantly, our employees, who have made Ricos what it is today.”
“Ricos is a true American original, and we have tremendous respect for what the Liberto family has built over five generations,” said Lorenzo Mendoza, [President and CEO] of Empresas Polar. “As a family-owned company ourselves, we understand the importance of preserving that legacy. 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. We are proud to welcome Ricos to the Empresas Polar family.”
The acquisition builds on Empresas Polar’s more than 15-year presence in the United States. In 2010, the company acquired its first U.S. production facility in Florida to produce beer and malt beverages for North America and the Caribbean. In 2014, it opened its International Grains and Cereals plant in Greenville, Texas, to support the growth of its P.A.N. brand across the region. Today, Empresas Polar has a presence in several U.S. food and beverage categories, including precooked corn flour, mixes, frozen foods, mayonnaise, milk modifiers, and malt beverages. This growth and success in the U.S. market has allowed Empresas Polar to identify new portfolio options, paving the way for the acquisition of Ricos Products.
BofA Securities acted as exclusive financial advisor and Norton Rose Fulbright acted as legal advisor to Ricos. Balandra Capital acted as financial advisor and Skadden acted as legal advisor to Empresas Polar.
“Ricos began with a simple idea at a Texas ballpark and grew into a beloved brand with a following around the world,” added Mendoza. “We look forward to building on that remarkable history, working alongside the Ricos team and the San Antonio community to create new opportunities for growth.”
About Empresas Polar
Founded in Caracas, Venezuela, in 1941, Empresas Polar is a family-owned food and beverage company now led by the third generation of the Mendoza family. Its portfolio includes iconic brands such as Harina P.A.N., Cerveza Polar, and Maltín Polar, with operations spanning Venezuela, Colombia, the United States, Spain, and other international markets. Polar is the PepsiCo bottler in Venezuela and Mexico through a joint venture. Alimentos Polar International, Inc. is a subsidiary of Empresas Polar.
For more information, visit https://empresaspolar.com/.
About Ricos Products Co.
Ricos Products Co. is a fifth-generation family-owned branded snack food company headquartered in San Antonio, Texas, and the originator of concession nachos. Founded in 1909, Ricos sells cheese sauce, tortilla chips, popcorn and other food products in more than 80 countries. Ricos products can be found across branded retail, theaters, stadiums and other food channels. For more information, visit www.ricos.com.
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SOURCE Empresas Polar
