Malgor & Co., Inc. was officially founded on July 1, 1926, in the city of San Juan, Puerto Rico, in what is now known as Old San Juan. The founders of the firm, all with equal shares, were: Antonio Malgor Méndez, Antonio Méndez Malgor, and Salvador Font Crespo. Both Antonio Malgor Méndez and Antonio Méndez Malgor were relatives and immigrants from Asturias, a province in northern Spain.