General
January 9, 2024
5 minutes read

The 10 Largest Companies In Brazil

Brazil is the largest economy in the South American continent, with a gross domestic product (GDP) of $1.9 trillion, or…

Brazil is the largest economy in the South American continent, with a gross domestic product (GDP) of $1.9 trillion, or $8,900 per capita, according to the World Bank. The country hosts some of the world’s biggest companies, with annual sales in the tens of billions of dollars.

We want to examine the top ten Brazilian companies by revenue. They include:

1. Petrobras

Revenue: $106bn

Petróleo Brasileiro S.A. (Petrobras) is a state-owned oil and gas company. It was formed in the 1950s with a legal monopoly over the Brazilian oil and gas sector. However, it lost the monopoly in the late 1990s when the government loosened restrictions for foreign and local companies. Yet, Petrobras remains Brazil’s largest oil and gas producer, producing 2.3 million barrels of oil equivalent daily.

Petrobras shares trade on the B3 exchange, New York Stock Exchange (NYSE), and Bolsa de Madrid. The Brazilian government owns 50.3% of its shares.

Petrobras chief executive Jean Paul Prates

2. JBS S.A.

Revenue: $71bn

JBS S.A. is the world’s largest meat processing company. It was established in 1953 as a small slaughtering business by a Brazilian rancher, José Batista Sobrinho, whose initials form the company’s name. Sobrinho’s business expanded greatly when the Brazilian government built a new capital, Brasilia, and he became the leading meat supplier to the city.

Over time, JBS S.A. morphed into the world’s largest meat processor. Sobrinho’s sons are the largest shareholders in the publicly traded company. JBS is headquartered in São Paulo.

3. Vale S.A.

Revenue: $41bn

Vale is a Brazilian metals and mining giant. It is the world’s largest iron ore and nickel producer and mines other elements like copper, coal, and manganese. Vale was founded in 1942 as a state-owned company but was privatized in 1997. Its shares trade on various stock exchanges, including the New York Stock Exchange (NYSE) and Bolsa de Madrid.

Vale’s biggest shareholders include American investment firm BlackRock, Japanese conglomerate Mitsui, and Banco do Brasil.

4. Itaú Unibanco

Revenue: $29bn

Itaú Unibanco is the largest banking institution in Latin America, with over 4,000 branches and 55 million customers. It was formed in 2008 from the merger of two Brazilian banks, Banco Itaú and Unibanco. Its shares trade on the B3 and New York Stock Exchange.

5. Banco do Brasil

Revenue: $25bn

Banco do Brasil is Latin America’s second-largest bank and the world’s seventieth-largest bank. It was founded in 1808, making it Brazil’s oldest bank. Banco do Brasil is controlled by the Brazilian government, which owns 50% of its shares.

Banco do Brasil chief executive Tarciana Medeiros

6. Ultrapar Participacoes S.A.

Revenue: $25bn

Ultrapar is a Brazilian conglomerate with interests in chemicals, pharmacies, fuel distribution, logistics, and more. It was founded in 1937 as Brazil’s first liquefied petroleum gas distributor. Over time, it grew into a massive conglomerate and listed its shares on the NYSE in 1999, becoming the first Brazilian company to go public in New York.

Ultrapar is headquartered in São Paulo. It has over 16,000 employees worldwide.

7. Atacadão

Revenue: $22bn

Atacadão is a Brazilian warehouse store chain. It was founded in 1960 and acquired by French retail chain Carrefour in 2007. Carrefour listed Atacadão’s shares on the public markets in 2017 and owns 67% of its shares. The Diniz family of Brazil is also a significant shareholder.

8. Banco Bradesco

Revenue: $20bn

Banco Bradesco is Latin America’s third-largest banking institution. Its services include commercial banking, insurance, pension plans, credit card services, business lending, savings bonds, and more. The bank was formed in 1943 by Amador Aguiar, whose three adopted daughters inherited his stake and are now billionaires. Aguiar passed away in 1996.

Banco Bradesco chief executive Marcelo Noronha

9. Ambev

Revenue: $16bn

Ambev is a brewing company. It owns various beer brands and sells PepsiCo products in Brazil, being the largest PepsiCo bottler outside the United States. Ambev shares trade on the B3 and NYSE. Its parent company is A.B. InBev, the world’s largest brewer, with 62% ownership.

10. Braskem

Revenue: $14bn

Braskem is a petrochemical giant. It produces various chemicals for industrial applications, such as polyethylene, polypropylene and polyvinyl chloride. The company is based in São Paulo.