AmBev

What AmBev does

AmBev (Companhia de Bebidas das Américas – Ambev S.A.) is a publicly traded Brazilian beverage company headquartered in São Paulo and controlled by Anheuser-Busch InBev, which holds approximately 61.8% of voting capital. The company produces, distributes, and sells beer and non-alcoholic beverages across 18 countries spanning South America, Central America, the Caribbean, and Canada. Its core beer portfolio includes flagship Brazilian brands Brahma (1888) and Antarctica (1885), along with Skol, Quilmes, Labatt, and Presidente, plus licensed production of Corona and Budweiser for Latin American markets. Non-alcoholic offerings are anchored by Guaraná Antarctica and include PepsiCo CSDs, Gatorade, H2OH!, and Lipton Iced Tea distributed under license in Brazil through December 31, 2027.

The company operates two proprietary digital platforms layered on top of its physical distribution network: Zé Delivery, a B2C on-demand beverage delivery platform that processed 67 million orders in 2025 and reached mid-single-digit percentages of Brazil beer volumes; and BEES, a B2B marketplace connecting over 1 million retailers with Ambev products and growing gross merchandise value approximately 70% year-over-year. Revenue is generated through traditional retail, bars and restaurants, and digital channels, with FY2025 net revenue of R$88,242 million, normalized EBITDA margin of 33.4%, and net income of R$15.99 billion (10.74% YoY growth). The company returned approximately $20 billion to shareholders in FY2025 dividends and buybacks, maintains investment-grade credit ratings (S&P BBB+, Moody's Baa2), and pursues a premiumization strategy that drove 17% growth in premium and super-premium beer volumes in Brazil alongside 30% growth in non-alcoholic beer volumes.

Name

AmBev

Legal name

AmBev S.A.

Website

https://ri.ambev.com.br

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AmBev is a São Paulo-based beverage company that produces, distributes, and sells beer and non-alcoholic drinks across 18 countries in Latin America, Canada, and the Caribbean. Controlled by AB InBev, it operates flagship brands Skol, Brahma, Antarctica, and Quilmes, alongside proprietary digital platforms Zé Delivery and BEES.

Ownership category

akta.pro rank

Product category

Beverages

NAICS

Breweries (31212), Beverage Manufacturing (3121)

SIC

Malt Beverages (2082), Beverages (2080), Bottled & Canned Soft Drinks & Carbonated Waters (2086), Wholesale-Beer, Wine & Distilled Alcoholic Beverages (5180)

akta.pro primary industry

Beer Brewing & Brands (CRADAIAA)

akta.pro secondary industries

Alcoholic Beverage Brand Owners & Holding Companies (Multi-category Portfolios) (CRADAIAL), Non-Carbonated Soft Drinks (Juice Drinks, Lemonades, Fruit Drinks) (CRADAHAB), Tea (Leaf, Bagged, Instant, Concentrates) (CRADAHAE)

Keywords

• Beer production
• Non-alcoholic beverages
• Premium brewing
• Beverage distribution
• Latin American beverages

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Beer Production and Sales: Core revenue from production, distribution and sale of beer brands including Brahma, Skol, Corona, Budweiser, and premium portfolios. Revenue of $88.24 billion in FY2025 with 10.74% year-over-year increase in net income to $15.99 billion. Premium brand volumes climbed 17% driving premiumization.
2. Non-Alcoholic Beverages: Production and sale of soft drinks, juices, and non-alcoholic beverages including Guaraná Antarctica, with non-alcohol beer volumes growing about 30% in Brazil. Expansion into functional beverages and iced tea markets.
3. Digital Platform Services: Revenue contribution from digital platforms Zé Delivery and BEES, which drive volume growth and market share gains. BEES GMV grew 70% year-over-year, with Zé Delivery reaching mid-single digit percentages of Brazil beer volumes.
4. Dividends and Share Buybacks: Capital return to shareholders through dividends and share buybacks. In FY2025, the company returned roughly $20 billion in dividends and buybacks, approved a new R$2.5 billion buyback, maintaining a 4.79% dividend yield.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

AmBev (Companhia de Bebidas das Américas) is a Latin American beverage company that produces, distributes, and sells beer, carbonated soft drinks, and non-alcoholic and non-carbonated beverages. Its beer portfolio includes flagship brands Skol, Brahma, Antarctica, Quilmes, Labatt, Presidente, plus licensed premium brands Corona and Budweiser. Non-alcoholic offerings include Guaraná Antarctica, Fusion, and PepsiCo-licensed products such as H2OH! and Lipton Iced Tea. The company also operates proprietary digital platforms Zé Delivery (consumer beverage delivery) and BEES (B2B marketplace for retailers).

Product overview

AmBev is a leading Latin American beverage company operating as a platform with multiple product categories. The core offering consists of beer brands (Skol, Brahma, Antarctica, Quilmes, Labatt, Presidente) and non-alcoholic beverages (Guaraná Antarctica, Fusion, H2OH!, Lipton Iced Tea). The company also distributes premium global brands (Corona, Budweiser) under license. Supporting the product portfolio are two digital platforms: Zé Delivery (consumer-facing delivery app) and BEES (B2B marketplace for retailers), which together form the company's digital ecosystem for distribution and commerce.

Differentiator

Problem solved

Functional benefit

Brands

• Skol: Leading beer brand in Brazil
• Brahma
• Antarctica
• Quilmes
• Labatt
• Presidente
• Guaraná Antarctica
• Budweiser
• Corona
• PepsiCo Products (CSD and NANC)
• Fusion
• Zé Delivery
• BEES

Products and services

• Skol Leading beer brand in Brazil and one of AmBev's flagship beer products sold across retail and on-premise channels.
• Brahma Historic Brazilian beer brand established in 1888, one of AmBev's primary beer offerings with 40+ years of history in Brazil.
• Antarctica Historic Brazilian beer brand founded in 1885, part of AmBev's core beer portfolio, including Antarctica Pilsen and Antarctica Sub Zero variants.
• Quilmes Leading Argentine beer brand acquired through Quinsa, representing AmBev's presence in Argentina, Bolivia, Paraguay, and Uruguay.
• Labatt Leading Canadian brewer acquired in 2004 through the InBev-Ambev transactions, representing AmBev's North American operations including Lakeport Brewing and Mill Street Brewery.
• Presidente Beer brand serving AmBev's operations in Central America and the Caribbean markets including the Dominican Republic.
• Corona Premium Mexican beer brand distributed by AmBev in Brazil under license from Constellation Brands, part of the premium portfolio.
• Budweiser Global premium beer brand distributed by AmBev in Latin American markets under AB InBev license, with production rights in Argentina in perpetuity.
• Guaraná Antarctica Flagship non-alcoholic carbonated soft drink brand and one of AmBev's major non-beer beverages with strong presence in Brazil.
• Fusion Non-alcoholic and non-carbonated beverage brand in AmBev's portfolio.
• H2OH! Flavored water brand sold under license from PepsiCo in Brazil as part of the exclusive bottling and distribution partnership.
• Lipton Iced Tea Ready-to-drink tea brand sold under PepsiCo license in Brazil.
• Zé Delivery Digital delivery platform connecting consumers to bars and retailers, handling 67 million orders in 2025 for on-demand beverage delivery in Brazil.
• BEES B2B digital marketplace enabling retailers to purchase beverages, with GMV growing 70% year-over-year and connecting over a million retailers across Latin America.

Quantifiable outcome

• 17% premium brand volume growth in Brazil
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• SearaminorStrategic or Co-development Partner · 29 April 2026Strategic partnership between two of Brazil's largest food and beverage manufacturers to jointly market Seara pizzas alongside Ambev's Guaraná Antarctica in combo offers across physical supermarket shelves and digital platforms including Zé Delivery.
• PepsiCocoreStrategic or Co-development PartnerAmbev holds exclusive bottler and distributor rights for Pepsi CSD products in Brazil until December 31, 2027. The partnership also includes Gatorade production and distribution since 2002, with expanded franchise agreement approved by CADE in December 2018.
• E. León Jimenes S.A. (ELJ)coreStrategic or Co-development PartnerStrategic alliance formed in May 2012 creating the leading beverage company in the Caribbean. Ambev holds approximately 85% of Tenedora (through Ambev Brasil), with ELJ holding 15%. Operations include Cervecería Nacional Dominicana S.A.
• CabCorp (Central America Bottling Corporation)coreStrategic or Co-development Partner50/50 joint venture named Ambev Centroamerica established in October 2002 with PepsiCo's anchor bottler in Central America for production, importation, distribution, marketing and sale of Ambev products in Guatemala and other Central America and Caribbean countries.
• Fundação Antonio e Helena Zerrener (FAHZ)minorOthersPhilanthropic foundation holding 10.21% of Ambev shares, providing medical, hospital and educational assistance to Ambev employees and dependents since 1936. Foundation is party to Ambev's Shareholders' Agreement.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Compañía Cervecerías Unidas (CCU): Major Latin American brewer headquartered in Chile with operations across Argentina, Chile, Uruguay, Paraguay and Bolivia. Directly competes with AmBev in Southern Cone markets and recently acquired Argentinean brands from AmBev/AB InBev (Norte, Iguana, Baltica).
• Heineken N.V. Global brewing competitor with significant presence in Latin America through subsidiaries, competing directly with AmBev in Brazil and other key markets. Both companies pursue premiumization strategies and operate multi-brand portfolios across emerging and developed markets.
• Molson Coors Beverage Company: Global brewer with multi-brand portfolio strategy similar to AmBev. Competes in premium beer segments across the Americas with comparable approach to portfolio premiumization and non-alcoholic expansion.
• Constellation Brands: Licensor of Corona brand distributed by AmBev in Brazil and major premium beer competitor with similar Latin American market focus. Operates comparable premium beer portfolio strategy targeting high-margin segments.
• Coca-Cola FEMSA: Latin America's largest Coca-Cola bottler with operations across Brazil, Mexico, Argentina, and other AmBev markets. Competes directly in non-alcoholic beverage distribution and B2B retail relationships across overlapping geographies.

Broad incumbents

• Anheuser-Busch InBev: AmBev's parent company controlling 61.8% of voting capital. AB InBev is the world's largest brewer with similar beer portfolio across global markets and supplies premium brand licenses (Budweiser) to AmBev, operating as both parent and most direct corporate peer.
• Kirin Holdings: Global beverage company with beer and non-alcoholic beverage operations across multiple geographies. Comparable multi-category portfolio approach with focus on premium segments and emerging market expansion.
• Asahi Group Holdings: Japanese-headquartered global beverage company with expanding Latin American presence. Pursues similar multi-category beverage strategy with beer as core offering and growing non-alcoholic portfolio.
• Carlsberg Group: Global brewer with operations across emerging markets including some Latin American presence. Competes in premium beer segments and pursues similar multi-brand, multi-geography strategies as AmBev.

Emerging players

• The Boston Beer Company: U.S.-based craft brewer and alcoholic beverage innovator expanding into adjacent categories like hard seltzers. Relevant as a premium/craft-focused peer that AmBev has engaged through craft acquisitions (Wäls, Colorado, Bogota Beer Company).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ambevbrasil
• Facebookfacebook.com/ambev
• LinkedInbr.linkedin.com/company/cervejariaambev

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AmBev