Grupo Mateus

What Grupo Mateus does

Grupo Mateus is a publicly traded Brazilian multichannel food retailer founded in 1986 in Balsas, Maranhão, and listed on B3's Novo Mercado segment since 2020 under ticker GMAT3. The company operates an integrated portfolio of retail formats — Mix Mateus (atacarejo/cash-and-carry), Mateus Supermercados (grocery), Eletro Mateus (electronics and furniture, 160+ stores), Armazzem (neighborhood convenience, 230+ stores), Camiño (small-city neighborhood), Spazio (premium gourmet emporium), Mais Fraldas (baby specialty) and Mateus Food Service (B2B food service) — totaling 490+ units across nine North and Northeast Brazilian states (Maranhão, Pará, Piauí, Ceará, Paraíba, Pernambuco, Alagoas, Sergipe, Bahia), with headquarters in São Luís, Maranhão. Underlying technology and operations are supported by the Pulse technology and innovation hub (described as the largest in Maranhão), proprietary digital platforms (Mateus Mais app, Mateus On e-commerce, Ofertas portal, CantodoChef B2B platform, WhatsApp 'Vem no Zap'), in-house production (Bumba Alimentos bakery), centralized slicing/portioning and hortifrúti facilities, two distribution centers (São Luís and Imperatriz), and UniMateus corporate university for training.

The company's revenue model is overwhelmingly transactional retail: physical store sales across grocery, wholesale, electronics, furniture, premium and specialty formats, supplemented by e-commerce orders, Galerias Comerciais in-store leasing income, and B2B wholesale supply to restaurants and hotels through CantodoChef. Pricing is pay-as-you-go and varies by format — wholesale/cash-and-carry pricing at Mix, premium positioning at Spazio, standard supermarket pricing at Mateus, and value-focused neighborhood pricing at Camiño/Armazzem. Customer segments are diversified: individual consumers across income levels, small traders and SMB buyers at atacarejo, food-service SMBs via CantodoChef, and electronics/furniture shoppers via Eletro Mateus. Family-controlled (founder Ilson Mateus Rodrigues and family hold ~79.57% of shares), Grupo Mateus reported R$36.4B in 2024 revenue, ranking third among Brazilian food retailers behind Carrefour Group and Assaí Atacadista. Recent developments include the 2024 acquisition of Novo Atacarejo, the launch of Mix Toureiro Farma (pharmacy format), the monetization of ~163,000 sqm of retail real estate via the Riza Renda Imobiliária feeder fund (R$428M, XP-coordinated), and a R$1.28B tax assessment from Brazil's Federal Revenue Service against subsidiary Armazém Mateus (FY2022-2023 ICMS credits, classified as 'possible loss'). Operational momentum has softened, with Q4 2025 same-store sales down 1.1% YoY and YTD 2026 same-store sales +0.7% (below inflation), reflecting weak Northeast consumer demand amid high interest rates and household debt.

Name

Grupo Mateus

Legal name

Grupo Mateus

Website

https://grupomateus.com.br

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Grupo Mateus is Brazil's third-largest food retailer, operating 490+ supermarkets, atacarejo, electronics, neighborhood, premium and food-service stores across nine North and Northeast states, serving individual consumers, SMB traders and B2B food-service buyers.

Ownership category

akta.pro rank

Headquarters

HQ city

Barra Do Corda

HQ country

Brazil

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Retail Store Sales: Revenue from sales through physical retail stores across multiple formats including supermarkets, atacarejo (cash-and-carry), neighborhood stores, electronics stores, and specialty formats.
2. Wholesale/Cash-and-Carry (Mix Atacarejo): Bulk sales to small traders, businesses, and consumers through Mix Atacarejo format offering wholesale pricing with minimum purchase requirements.
3. Food Service B2B: Specialized wholesale供应 to restaurants, hotels, and food service entrepreneurs through dedicated food service format and CantodoChef platform.
4. Electronics and Furniture Sales (Eletro Mateus): Revenue from home appliances, electronics, furniture, and household goods through Eletro Mateus chain with 160+ stores.
5. E-commerce and Digital Sales: Online sales through proprietary platforms including Mateus Mais app, Mateus On e-commerce, and Ofertas portal, plus WhatsApp ordering.
6. Real Estate/Gallery Leasing: Revenue from leasing commercial gallery spaces within stores to third-party merchants through galerias comerciais program.

Pricing tiers

Go-to-market motion3 records

Distribution channels11 records

Marketing channels6 records

Core offering

Grupo Mateus operates a multi-format retail platform in Brazil, selling food, groceries, electronics, furniture, and household goods through 282+ physical stores spanning cash-and-carry (Mix), supermarkets (Mateus), neighborhood stores (Camiño, Armazzem), electronics outlets (Eletro Mateus), premium emporiums (Spazio), specialty baby stores (Mais Fraldas), and a B2B food service wholesale format. The company also runs proprietary e-commerce platforms (Mateus Mais, Mateus On) and a B2B wholesale site (CantodoChef), supported by own production facilities including Bumba Alimentos bakery and a centralized slicing/portioning center.

Product overview

Grupo Mateus is a multi-channel food retail company operating as a platform of interconnected retail formats across wholesale, cash-and-carry (atacarejo), retail supermarkets, neighborhood stores, specialty stores, and e-commerce. The core portfolio includes Mix Mateus (atacarejo), Mateus Supermercados (retail), Eletro Mateus (electronics/furniture), Armazzem (neighborhood), Camiño (convenience), Spazio (premium gourmet), Mais Fraldas (baby products), and Mateus Food Service. Supporting operations include Bumba Alimentos (bakery production), Central de Porcionamento e Fatiados (portioning facility), Pulse (technology hub), and UniMateus (corporate university). E-commerce is served through Mateus Mais and Mateus On platforms. The company operates 282 stores across 9 states in North and Northeast Brazil with 65,000 collaborators.

Differentiator

Problem solved

Functional benefit

Brands

• Mix Mateus: Cash-and-carry wholesale format serving consumers and merchants across Pará and all Northeast states except Rio Grande do Norte.
• Mateus Supermercados
• Eletro Mateus
• Camiño
• Armazzem
• Spazio
• Mais Fraldas
• Mateus Food Service

Products and services

• Mix Mateus (Atacarejo) Cash-and-carry wholesale retail format offering low prices and product variety for end consumers and merchants, with exclusive services including bakery, butcher shop, fish market, hortifruti, and snack bar.
• Mateus Supermercados Traditional supermarket format and the pioneer retail brand of the group, founded in Balsas in 1986, focused on a complete shopping experience for households with hybrid format in some locations serving smaller city merchants.
• Eletro Mateus Electronics and furniture retail banner with over 160 stores distributed across North and Northeast Brazil, offering appliances, furniture, and electronics with variety and fair prices for the home.
• Spazio Premium gourmet emporium offering curated selection combining gastronomy and lifestyle, including wine cellar, specialty meats, imported products, healthy items, gourmet grocery, and home goods.
• Mateus Food Service B2B food service wholesale format developed for entrepreneurs, restaurants, and food businesses, organized by specialty areas with Canto do Chef space for workshops and practical demonstrations.
• Mateus Mais (E-commerce Platform) E-commerce platform for online grocery shopping with practicality and security, available as mobile app on iOS and Android and as a web store.
• Mais Fraldas Specialty baby and mother store offering products related to the baby and mother universe including hygiene, comfort, and safety items with variety and savings.
• Pulse Technology Hub Technology and innovation center serving as the largest tech hub in Maranhão, driving digital transformation, operational efficiency, and elevating digital customer experience across all business processes.

Quantifiable outcome

• Third largest Brazilian food retailer with R$36.4 billion revenue (2024)
• +4 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor.

• Abras NielsenIQminorOthersAbras NielsenIQ produces the annual Brazilian supermarket sector ranking which positions Grupo Mateus as the third largest food retailer in Brazil with R$36.4 billion in revenue, accounting for 9.12% of national GDP.
• InfineatminorStrategic or Co-development PartnerPartnership through 'Unidos pela Comida' project to combat food waste by transforming surplus food into meals for those in need, demonstrating ESG commitment and community engagement.
• GBR ComunicaçãominorOthersInvestor relations press office communications firm providing media relations, press releases, and corporate communications support for Grupo Mateus.
• Cores ComunicaçãominorOthersRegional Northeast press office communications firm providing media relations support for Grupo Mateus in the Northeastern Brazil region.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Emerging players

• Tenda Atacado: Brazilian atacarejo/cash-and-carry chain expanding in Northeast and Southeast. Direct competitor in the wholesale segment, smaller in scale than Atacadão but active in geographies also served by Mix Mateus.

Direct peers

• Assaí Atacadista: Brazil's second-largest food retailer (R$80.6B revenue), pure-play atacarejo/cash-and-carry model with deep Northeast presence. Direct head-to-head competitor with Mix Mateus in the wholesale/SMB-trader segment across shared geographies.
• Atacadão (Carrefour Group): Brazil's largest cash-and-carry banner, owned by Carrefour Brasil. Most direct like-for-like competitor to Mix Mateus in the B2B/SMB-trader and bulk-consumer atacarejo segment across all Northeast states.

Regional players

• Sonda Super Center: Brazilian regional supermarket chain concentrated in the South/Southeast. Comparable as a multi-format family-controlled grocery retailer but geographically distinct from Grupo Mateus's North/Northeast footprint.
• Savegnago Super Center: São Paulo-state based supermarket chain operating super-center and atacarejo formats. Comparable as a privately-held regional multi-format food retailer, though absent from Grupo Mateus's core North/Northeast territory.
• Costa Supermercados & Atacadões: Medium-sized supermarket and atacarejo operator in Northeast Brazil (Rio Grande do Norte, Ceará). Comparable as a regional multi-format food retailer serving adjacent Northeast geographies with overlapping SMB trader and consumer segments.
• Condor Super Center: Paraná-based supermarket chain with atacarejo (Condor Atacadista) and retail formats. Comparable multi-banner grocery/wholesale strategy and family-controlled origins, though serving a different region than Grupo Mateus.

Broad incumbents

• GPA (Grupo Pão de Açúcar): Operates Pão de Açúcar, Extra, and Mercado Extra supermarkets plus Assaí (now spun off). Comparable multi-banner grocery platform serving similar consumer segments, though with stronger Southeast/Capital positioning versus Mateus's North/Northeast focus.
• Walmart Brasil (legacy / BIG): Operated by Advent/Atacadão pós-Carrefour acquisition of BIG. Comparable as a multi-format mass grocery retailer previously competing in Brazilian regional markets, providing benchmark for grocery-retail unit economics in the country.
• Carrefour Brasil: Largest food retailer in Brazil (R$120.6B revenue) operating Atacadão cash-and-carry, Carrefour supermarkets, and proximity formats. Directly comparable as a multi-format grocery leader, but operates at materially larger national scale than the regional Grupo Mateus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xinstagram.com/mixmateusoficial
• YouTubeyoutube.com/watch?v=3r07zGxwreI
• LinkedInlinkedin.com/company/grupo-mateus
• Instagraminstagram.com/mateussupermercados

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Grupo Mateus