SAN ANTONIO – October 30, 2026 -- Venezuelan food and beverage group Empresas Polar has acquired Ricos Products Co., a San Antonio supplier of nacho cheese sauce, chips and popcorn that sells in more than 80 countries. Financial terms were not disclosed.
The deal closed through Polar's subsidiary Alimentos Polar International, Inc. Ricos' operations and management team stay in place, and the company remains headquartered in San Antonio.
Ricos brings a 1909-founded, fifth-generation brand to Polar's U.S. portfolio
Ricos is the originator of concession nachos. Its products are sold through branded retail, theaters, stadiums and other food channels. CEO Tony Liberto said Polar's long-term commitment will let Ricos accelerate growth and innovation and expand its reach.
Polar CEO Lorenzo Mendoza called Ricos "a true American original" and said the group plans to invest in the company's growth and bring its products to more consumers worldwide.
Polar builds on a 15-year U.S. footprint that began with a Florida plant in 2010
Polar, founded in Caracas in 1941, bought its first U.S. production facility in Florida in 2010. The plant makes beer and malt beverages for North America and the Caribbean. In 2014 it opened the International Grains and Cereals plant in Greenville, Texas, to support its P.A.N. brand.
The group now sells in U.S. categories including precooked corn flour, mixes, frozen foods, mayonnaise, milk modifiers and malt beverages. Polar said this U.S. growth led it to identify new portfolio options, which paved the way for the Ricos acquisition.
BofA Securities and Skadden lead the advisory roster on the transaction
BofA Securities was exclusive financial advisor and Norton Rose Fulbright legal advisor to Ricos. Balandra Capital was financial advisor and Skadden legal advisor to Empresas Polar.