Rickers to Detail New Foundation

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The co-founder of Anderson-based Ricker Oil Co. and his wife will Thursday provide details on their new nonprofit organization. Jay and Nancy Ricker will formally announce the creation of The Ricker Family Foundation and its first beneficiary, the Paramount Theatre in downtown Anderson.

In a statement, Jay Ricker said the foundation will pay off the Paramount Theatre’s mortgage. More details of the venture will be revealed during a news conference Thursday afternoon at the Paramount Theatre 

"Jay and I want to continue to give back to the people and communities that have made our business and financial success possible," said Nancy Ricker. "The formation of The Ricker Family Foundation will allow us to do so."

In September, Jay Ricker announced his company was being acquired by Pittsburgh-based Giant Eagle Inc. That deal was finalized earlier this month.