Ambev S.A.

What does Ambev own?
Ambev owns approximately 30 beer and non-alcoholic beverage brands including Brahma, Skol, Antarctica, Original, Guaraná Antarctica, Quilmes, Presidente, and Labatt. The company also produces AB InBev brands including Stella Artois, Budweiser, and Corona under license in Latin American markets.

Is Ambev publicly traded?
Yes. Ambev trades on NYSE under ticker ABEV and on B3 (Sao Paulo stock exchange) under ticker ABEV3. The company listed on NYSE in 2009 through ADRs, raising approximately $4.9 billion.

Who founded Ambev?
Ambev was formed in 1999 through the merger of Brahma (founded 1888) and Antarctica (founded 1885). The merger was orchestrated by Brazilian investors Jorge Paulo Lemann, Marcel Telles, and Carlos Sicupira, who had acquired control of Brahma in 1989.

Where is Ambev headquartered?
Ambev is headquartered in Sao Paulo, Brazil, in the Itaim Bibi neighborhood. The company operates breweries, soft drink plants, and distribution centers across Brazil and other Latin American countries.

How many brands does Ambev own?
Ambev owns approximately 30 beer and non-alcoholic beverage brands. Major brands include Brahma, Skol, Antarctica, Original, Guaraná Antarctica, Quilmes, Presidente, Balboa, and Labatt Blue.

Who owns Ambev?
Ambev is a subsidiary of Interbrew International B.V., which is part of AB InBev SA/NV, the world's largest beer company. AB InBev holds a controlling stake in Ambev. The founding Brazilian investor group, including the Lemann, Telles, and Sicupira families, maintains effective control through AB InBev's dual-class share structure.

What is Ambev's revenue?
Ambev reported FY2025 net revenue of R$88.2 billion, down 1.4% from FY2024. Net income was R$15.99 billion, up 7.7% year over year. Adjusted EBITDA was R$29.5 billion with a 33.4% margin.

Ambev was formed in 1999 through the merger of Companhia Cervejaria Brahma and Companhia Antarctica Paulista, Brazil's two largest breweries. Brahma was founded in 1888 and Antarctica in 1885, giving the merged entity roots dating to the 19th century. The merger was orchestrated by a group of Brazilian investors including Jorge Paulo Lemann, Marcel Telles, and Carlos Sicupira, who had acquired control of Brahma in 1989.

The merger created the largest beverage company in Latin America and the fifth-largest brewer in the world by volume at the time. The new company combined Brahma's brands (Brahma, Skol, Original) with Antarctica's brands (Antarctica, Guaraná Antarctica, Quilmes).

In 2000, Ambev acquired Cervecerias Quilmes in Argentina, expanding into the Southern Cone. Quilmes gave Ambev leading market positions in Argentina, Bolivia, Paraguay, and Uruguay. The company also expanded into Central America and the Caribbean through acquisitions in Guatemala, the Dominican Republic, El Salvador, and Nicaragua.

In 2004, Ambev merged with Interbrew of Belgium, creating InBev, the world's largest brewer by volume. The merger was a transformative deal that combined Ambev's Latin American dominance with Interbrew's European brands including Stella Artois, Beck's, and Leffe. Ambev shareholders received a controlling stake in the combined entity. InBev later acquired Anheuser-Busch in 2008 for $52 billion, creating AB InBev. Ambev became a subsidiary of the new company and remains publicly listed on NYSE and B3 (Sao Paulo stock exchange).

Ambev listed on NYSE in 2009 through ADRs under ticker ABEV. The IPO raised approximately $4.9 billion. The company also has a primary listing on B3 in Sao Paulo.

Under AB InBev ownership, Ambev has operated as the Latin American arm of the world's largest beer company. The company has focused on premiumization, shifting its product mix toward higher-margin brands. In FY2025, net revenue per hectoliter grew 7% organically, driven by favorable mix and revenue management initiatives.

In 2025, Ambev sold a subsidiary in the Central America and Caribbean region, generating a R$862 million gain. The company also faced volume declines of 3.3% in FY2025, reflecting challenging macroeconomic conditions in Brazil and competitive pressures in several markets.

Ambev publishes an annual ESG report detailing its sustainability commitments. The company has set targets for carbon emission reduction, water stewardship, and circular packaging. Ambev's parent company, AB InBev, has committed to net-zero emissions across the value chain by 2040.

Ambev's water usage in brewing has been reduced through efficiency investments, with the company reporting water consumption of approximately 2.5 hectoliters of water per hectoliter of beer in its Brazilian operations. The company has implemented recycling programs and uses returnable packaging in many markets.

Ambev has faced scrutiny over its market dominance in Brazil, where it controls approximately 60% of the beer market. Competition authorities have reviewed the company's market position, particularly following the AB InBev acquisition of SABMiller in 2016. The company's sustainability reporting is self-published and not independently certified.

• Guinness World Records: Skol, owned by Ambev, has been recognized as one of the best-selling beers in the world by volume.
• Superbrands Brazil: Multiple Ambev brands including Brahma, Antarctica, and Guaraná Antarctica have been recognized as leading consumer brands in Brazil.
• Marketing awards: Ambev and its brands have received recognition at the Festival of Marketing and other industry events for advertising campaigns.

Ambev has faced antitrust scrutiny related to its dominant market position in Brazil. The Brazilian antitrust authority CADE (Conselho Administrativo de Defesa Econômica) reviewed the AB InBev acquisition of SABMiller in 2016, requiring divestitures in certain markets. Ambev has also faced scrutiny over its exclusive distribution agreements with retailers.

In 2023, Ambev faced a tax dispute in Brazil related to ICMS (state value-added tax) calculations. The company has contested the assessments through legal channels. The outcome is pending.

Ambev has faced criticism over its labor practices, including concerns about working conditions at breweries and distribution centers. The company has implemented workplace safety programs and employee benefit initiatives.

The company has faced environmental criticism related to water usage in water-stressed regions. Ambev has implemented water replenishment programs in response.