Ambev

What does Ambev own?
Ambev owns Brazilian beer brands including Skol, Brahma, and Antarctica, the soft drink brand Guaraná Antarctica, and craft beer brand Wäls, among others. The company also produces and distributes AB InBev brands including Stella Artois, Budweiser, and Corona under license in Latin American markets.

Is Ambev publicly traded?
Yes. Ambev is listed on the São Paulo Stock Exchange under ABEV3 and on the New York Stock Exchange under ABEV. Anheuser-Busch InBev holds a controlling stake of approximately 61.9%; the remaining shares are publicly traded.

Who owns Ambev?
Anheuser-Busch InBev holds a controlling stake in Ambev of approximately 61.9% through its subsidiary Interbrew International B.V. The remaining shares are publicly traded. Ambev operates with its own management and board of directors.

Where is Ambev headquartered?
Ambev is headquartered in São Paulo, Brazil. The company operates across Brazil, Argentina, the Dominican Republic, Canada, and other Latin American and Caribbean markets.

What is Ambev's relationship to AB InBev?
Ambev is a majority-owned subsidiary of Anheuser-Busch InBev, the world's largest brewer. AB InBev holds approximately 61.9% of Ambev through Interbrew International B.V. Ambev is separately listed on the São Paulo and New York stock exchanges and operates with its own management, brand portfolio, and strategic planning.

What were Ambev's 2025 financial results?
For full-year 2025, Ambev reported organic net revenue growth of 4.0%, with net revenue per hectoliter up 7.5%. Normalized EBITDA margin expanded 50 basis points to 33.4%. Stated net income reached nearly BRL 16 billion. The company returned approximately BRL 20 billion to shareholders, the highest in company history.

What is BEES?
BEES is Ambev's B2B digital marketplace platform for retail customers including bars, restaurants, and convenience stores. In 2025, BEES Marketplace gross merchandise value grew 70% year over year, driven by third-party product expansion. The platform enables retailers to order products digitally and provides Ambev with data on retail purchasing patterns.

What is Zé Delivery?
Zé Delivery is Ambev's direct-to-consumer beverage delivery platform operating in Brazil. In 2025, the platform delivered BRL 4.7 billion in gross merchandise value, up 13% year over year, processing 67 million orders with 27 million yearly active users. Approximately 80% of buyers were Gen Z or millennials.

Brahma was founded in 1888 in Rio de Janeiro and Antarctica in 1885 in São Paulo. Both grew to become dominant Brazilian brewers over the following century. In 1999, Brahma and Antarctica merged to form Companhia de Bebidas das Américas, known as Ambev, creating the largest beverage company in Latin America.

In 2004, Ambev merged with Belgian brewer Interbrew to form InBev, with Ambev's controlling shareholders receiving a significant stake in the combined entity. InBev subsequently acquired Anheuser-Busch in 2008 for approximately $52 billion, creating Anheuser-Busch InBev, the world's largest brewer. Throughout these transactions, Ambev remained separately listed on the São Paulo Stock Exchange and continued operating as a distinct entity with its own management and brand portfolio.

Under AB InBev's ownership, Ambev has pursued premiumization, digital transformation, and geographic expansion. The company launched BEES, a B2B digital marketplace for its retail customers, and Zé Delivery, a direct-to-consumer beverage delivery platform. For full-year 2025, total volume fell 3.3% but organic net revenue grew 4.0% as net revenue per hectoliter increased 7.5%, supported by premiumization and revenue management. Normalized EBITDA margin expanded 50 basis points to 33.4%. The company returned approximately BRL 20 billion to shareholders in 2025 through dividends, interest on capital, and share buybacks.