NACHO BUSINESS
Venezuelan food giant scoops up San Antonio nacho king Ricos
Ricos Products has been sold to a Venezuelan company.
The next time you go to a Missions game, your nachos might be Venezuelan. Well, sort of. Rico’s Products, the San Antonio family business behind concession stand cheese, has been acquired by Caracas-based food giant Empresas Polar.
According to a release, Ricos' management team and operations will stay put, and the company will keep its Southtown headquarters. Terms of the sale were not disclosed.
"Our family is very proud to have run a successful five-generation family business for over a century," said Ricos CEO Tony Liberto in the release. "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."
Ricos’ long history in Alamo City started in 1909, when Sicilian immigrant Rosario Liberto opened a grocery and butcher market in San Antonio. The family soon got a hankering for show business, roasting peanuts to sell to circus crowds.
In 1976, Rosario's grandson Frank Liberto took a dish he'd seen on San Antonio menus and rolled it into Arlington Stadium on homemade carts. According to Texas Monthly, Texas Rangers fans bought roughly one order for every two and a half patrons. The following year, Howard Cosell gushed about them on Monday Night Football.
Empresas Polar, for its part, has its own storied legacy. Founded in 1941 as a brewery, the company is best known to American shoppers for P.A.N. — the precooked corn base of countless homemade arepas. It has operated in the U.S. for more than 15 years, starting with a Florida beer and malt beverage plant in 2010, and opened a grains and cereals plant in Greenville, Texas, in 2014.
"Ricos is a true American original, and we have tremendous respect for what the Liberto family has built over five generations," said Empresas Polar president and CEO Lorenzo Mendoza. "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."
