Board Member @ International Dispensing Corp (IDND)
BS Microbiology @
Market tested and widely accomplished C-level executive who delivers on aggressive top and bottom line targets for publicly-traded, PE and family-owned food companies across global markets. Strategic member of senior leadership teams, recruited throughout career to turnaround, strengthen and expand underperforming or high potential businesses. Adept at identifying and deploying company initiatives that eliminate inefficiency while optimizing
Market tested and widely accomplished C-level executive who delivers on aggressive top and bottom line targets for publicly-traded, PE and family-owned food companies across global markets. Strategic member of senior leadership teams, recruited throughout career to turnaround, strengthen and expand underperforming or high potential businesses. Adept at identifying and deploying company initiatives that eliminate inefficiency while optimizing and preserving the attributes that make it successful. Blends innovative thinking, best practices and deep industry knowledge with natural leadership skills and extensive academic credentials to deliver results in key performance areas.
Team Leadership - As President of Overhill Farms, delivered double digit percent sales increase in declining category, and a triple digit increase in EBITDA. Throughout career built teams of highly skilled senior leaders that achieved aggressive top and bottom line targets.
Organizational Restructuring - As President/CEO of Frozen Specialties, closed a facility, expanded another one, relocated production, sold or exited underperforming businesses in six months as required by new banking relationship.
Operations/Supply Chain Excellence - As President/CEO of Ruiz Foods, expanded facilities to accommodate explosive growth, launched new products and packaging formats, built a 200K SF freezer and expanded global sourcing, generating a 200 basis point improvement in margins.
Revenue Growth - As President/CEO of Ruiz Foods, increased sales by hundreds of millions of dollars by expanding sales to existing customers, gaining new customers, expanding globally and increasing products and channels.
Cultural Transformation - As President of Busch's Fresh Food Markets, executed a cultural transformation that increased customer engagement and satisfaction and decreased employee turnover, resulting in the biggest comparable sales growth in company’s recent history.
Board Member @ IDC is an international packaging research and development company that specializes and manufacturers game-changing innovations for the food and beverage industry. From March 2015 to Present (10 months) Managing Director @ Provide business advisory services on behalf of this global investment banking firm to food and beverage clients. Consult with company owners. Conduct analyses, provide insight and make recommendations relative to optimizing growth opportunities and improving overall business performance. From 2015 to Present (less than a year) Board Member @ Family-owned business with a mission to help people "Share the goodness of beans in the company of friends". From 2010 to Present (5 years) Board Member @ Leading producer of premium rainbow trout from the most pristine waters. From 2010 to Present (5 years) President @ Recruited to run Overhill when Bellisio acquired it with the mandate to strengthen relationships between the two company’s leadership, foster a culture of collaboration, grow top line, boost margins, and integrate Overhill into Bellisio. Oversaw two USDA inspected manufacturing facilities with 550 employees and $155M in revenue. Also, responsible for $45M in sales of products manufactured at sister plants. Recruited and developed management team. Expanded product pipeline and sales channels. Right-sized staffing. Built a proactive sales team and process. Created new vision and mission, with culture of transparency and alignment across entire organization.
• Achieved all consolidation and integration targets well ahead of schedule.
• Improved sales and EBITDA.
• Added new customers and products.
• Shortened product development time and cost by double digit percent.
• Increased product success rate and improved capacity utilization saving millions of dollars.
• Negotiated a new union agreement with favorable management provisions. From 2013 to 2015 (2 years) Chief Executive Officer and Director @ Recruited to this #1 manufacturer in the USA of branded and private label pizza crusts, frozen pizza, and frozen pancakes to replace the owner/founder and freshen up the company in preparation for sale by PE owners Linsalata Capital Partners. With full P&L, oversaw two facilities in South Carolina (one USDA inspected) with approximately 300 employees and $85M in revenue. Reorganized company leadership, realigned retail sales force, strengthened logistics, operations, finance, marketing and quality teams. Initiated new go-to-market strategy, updated marketing program and expanded sales to Canada, Mexico, Columbia and Caribbean.
• Increased share at retail and at Wal-Mart, both by double digits.
• Drove increase in pizza crust sales despite a flat category.
• Completed profitable sale of the frozen pizza and frozen pancakes business. From 2012 to 2013 (1 year) President @ Brought in to this family-owned premium independent supermarket chain in S.E. Michigan to re-energize the business, upgrade the perishables sections and drive a cultural transformation through employee engagement. Oversaw $250M in sales and more than 1,000 employees and 16 stores with an average of 45,000 SF each, including pharmacies, a large and complex central kitchen and a fleet of delivery trucks. Reorganized senior management team. Revamped private label strategy. Designed restructuring strategy.
• Boosted sales of perishables departments and private label by double digit percentages.
• Delivered a comparative store sales improvement and decreased employee turnover.
• Saved millions of dollars by restructuring the pharmacy division. From 2011 to 2012 (1 year) President, CEO and Director @ The largest manufacturer of private label frozen pizza and appetizer pizza bites, where I was appointed to run the company after serving on the board (PE owned) since 2002. With P&L for $85M in sales and 275 union employees, restructured the business. Closed one facility, expanded another, and relocated production to a larger facility. Expanded retail presence as well as foodservice, dollar, clubs and drug channels. Improved plant efficiencies, logistics and sourcing. Created new product platforms with higher margins.
• Generated increase in sales and improved EBITDA from negative to positive.
• Sold or exited under-performing business.
• Reduced overhead and operational expenses From 2008 to 2011 (3 years) President, CEO and Director @ Recruited to manage this Hispanic cheese company, which is the largest in the USA, during health challenges of owner/founder. Managing $35M in sales and more than 100 employees, transitioned family company to professional management by realigning and improving management team. Led two manufacturing facilities and six forward warehouses and a DSD network. Implemented packaging automation to reduce costs, new quality systems and enhanced milk procurement practices. Owner’s health improved and returned to the business.
• Increased sales and EBITDA, both by double digits. From 2007 to 2008 (1 year) President, CEO and Director @ Brought in to professionalize this family-owned manufacturer of authentic Mexican foods as founder was transitioning out and wanted bridge leadership before handing it over to the next generation. Improved management team. Oversaw one USDA inspected facility with $80M in sales and 225 employees. Implemented new product development process. Expanded geographic and channel distribution.
• Drove dramatic improvements in employee engagement and company culture.
• Sales increased over 40% and doubled EBITDA.
• Added new products and expanded sales in Mexico and Caribbean. From 2004 to 2007 (3 years) President, CEO and Director @ Oversaw three plants in OH, CT, FL with $135M in sales and 235 employees for this PE-owned market-leading beverage company. Improved management team and enhanced product portfolio, including launching a retail line of beverages with health-related functional ingredients.
• Grew sales and EBITDA each by more than double digits. From 2001 to 2003 (2 years) President, CEO and Director @ Hired to transition family-owned market leading frozen branded Mexican foods company to next generation of family leadership. Oversaw two USDA inspected plants, $400M in sales and 1,000-plus employees. Led creation of new corporate identity, brand positioning and packaging for El Monterey. Introduced global sourcing.
• Catapulted sales, margin and EBITDA to record levels.
• Grew foodservice, national accounts, military, and warehouse club channels as well as retail brand share.
• Made El Monterey the #1 brand in retail and food service.
• Created an industry-leading, game changing product sub-category, generating tens of millions of dollars in sales. From 1997 to 2001 (4 years) President - Foodservice / Industrial @ Australian owned, public company. Manufacturer of food ingredients, sauces, toppings, vinegar, salad dressings, seasonings, extracts, and flavors for FoodService and Industrial channels as well as value added retail and specialty channels. Brands include: Tones, Durkee, Spice Islands, French's, Integrated Ingredients, Fleischman's, Richardson Foods, Benchmate, Ohly and Provesta. From 1990 to 1993 (3 years)
Governing Family Enterprises @ Northwestern University - Kellogg School of ManagementMS and PhD, Food Science and Human Nutrition @ University of FloridaBS Microbiology @ University of South Florida Ric Alvarez is skilled in: New Business Development, Supply Chain Optimization, Mergers, Strategic Vision, People Development, Income Statement, FMCG, Retail, Ingredients, P&L Management, Manufacturing, Team Building, Food Service, Forecasting, Frozen Food
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