San Antonio – The historic Ricos Products Company, a family‑built concession‑snack business that has served the city since 1909, announced Friday that it has been acquired by Venezuela’s food and beverage conglomerate Empresas Polar. The deal was confirmed in a joint press release from both companies.
Local heritage meets international expansion
Ricos CEO Tony Liberto said the partnership aligns with the company’s long‑standing values. “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,” Liberto said. He added that Polar’s long‑term commitment will enable Ricos to accelerate growth, innovate new products, and broaden its reach while maintaining the high‑quality standards customers expect.
Founded by the Liberto family after immigrant patriarch Rosario Liberto arrived in Louisiana from Italy in 1890, Ricos opened its first grocery store in San Antonio in 1909. Over the ensuing 117 years the company evolved into a major concessions provider, best known for its stronger‑chip nachos and warm cheese sauce first introduced at a Dallas venue in 1976. Today, Ricos’ nachos are a staple at movie theaters, festivals and sports venues across every U.S. state and many international markets, and its cheese sauce is sold in local grocery aisles.
Company footprint and recent history
The company’s Southtown headquarters houses a wholesale store for local customers and a museum that celebrates its century‑plus legacy. Ricos also operates a manufacturing plant in Dallas. In 2007 the firm sold its distribution arm to wholesale distributor Vistar, and in 2019 CEO Liberto publicly stated there were no plans to sell the business, projecting $128 million in annual sales at that time.
Despite those earlier statements, the acquisition by Empresas Polar marks a new chapter. Founded in Venezuela in 1941 as a brewery, Polar has diversified into bread, cereals, and bottling for Coca‑Cola and Pepsi in South America. Over the past 15 years the company has expanded its U.S. presence, adding a beer and malt‑beverage facility in Florida and a grain‑and‑cereal plant in Greenville, Texas.
Polar’s vision for Ricos
“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,” said Empresas Polar CEO Lorenzo Mendoza in the release.
The acquisition is expected to bring additional capital, broader distribution channels, and new product development resources to Ricos. Both companies emphasized that the brand’s iconic status and local ties will be preserved, even as the business leverages Polar’s international network.
What this means for San Antonio
Local officials and community members have expressed optimism that the deal will protect jobs and keep the company’s manufacturing and wholesale operations in the region. The acquisition also underscores San Antonio’s reputation as a hub for family‑owned enterprises that can attract global partners while retaining their community roots.
Ricos’ longstanding presence in Southtown, its museum, and its commitment to local suppliers suggest that the brand will continue to be a point of pride for San Antonio residents. The partnership with Empresas Polar may also open doors for new product lines and expanded market reach, benefiting both the local economy and consumers nationwide.
Original reporting: San Antonio Report — read the source article.
