# AMBEV S.A.

Summary updated: 2026-09-28T12:32:54.396606Z
Canonical: https://finbar.com/research/companies/ambev-s-a

## Overview

Ambev S.A. is a beverage company that produces, distributes and sells beer, soft drinks and other alcoholic and non-alcoholic beverages. Its portfolio includes beer brands such as Brahma, Skol and Antarctica, as well as Guaraná Antarctica and Pepsi among its non-alcoholic offerings. [1](https://app.finbar.com/go?id=P165580198)[2](https://app.finbar.com/go?id=P165581857)[3](https://app.finbar.com/go?id=P165580263)

Ambev operates directly in 11 countries across the Americas. It reports its business in four geographic segments: Brazil; Central America and the Caribbean; Latin America South; and Canada. Its stated purpose is to “Dream Big to Create a Future with More Cheers.” In 2025, it reported net sales of R$88.2 billion and had 39,606 employees at year-end. [1](https://app.finbar.com/go?id=P165580198)[4](https://app.finbar.com/go?id=P165580199)[5](https://app.finbar.com/go?id=P165580234)[6](https://app.finbar.com/go?id=T19313965)[7](https://app.finbar.com/go?id=P165580949)
[1](https://app.finbar.com/go?id=P165580198)[2](https://app.finbar.com/go?id=P165581857)[3](https://app.finbar.com/go?id=P165580263)[4](https://app.finbar.com/go?id=P165580199)[5](https://app.finbar.com/go?id=P165580234)[6](https://app.finbar.com/go?id=T19313965)[7](https://app.finbar.com/go?id=P165580949)

## Products & services

Ambev’s beverage portfolio spans beer, other alcoholic drinks and non-alcoholic beverages. In Brazil, its beer brands include Skol, Brahma and Antarctica, alongside Budweiser, Corona and Stella Artois. Its “beyond beer” products include the Beats family and Mike’s; in Canada, the portfolio includes NÜTRL, Cutwater and Palm Bay. Ambev also offers Corona Cero, a non-alcoholic beer with added vitamin D, and Stella Artois Pure Gold, a low-calorie, gluten-free beer. [8](https://app.finbar.com/go?id=P151298035)[9](https://app.finbar.com/go?id=P151298039)[10](https://app.finbar.com/go?id=P151298537)

Its non-alcoholic products include Guaraná Antarctica soft drinks, Pepsi-Cola, H2OH!, Gatorade, Lipton Iced Tea and Fusion energy drinks. Ambev bottles, sells and distributes several PepsiCo brands in Brazil under an exclusive agreement, and distributes Red Bull there under a separate exclusive agreement. Carbonated soft drinks accounted for approximately 54% of its Brazilian non-alcoholic beverage unit volume in 2024. [11](https://app.finbar.com/go?id=P151298042)[12](https://app.finbar.com/go?id=P151298044)[13](https://app.finbar.com/go?id=P151298189)

Ambev also operates BEES, a business-to-business ordering and marketplace platform with product suggestions, order tracking and customer support, and Zé Delivery, a direct-to-consumer delivery platform in Brazil. In 2024, Brazil beer generated 45.0% of consolidated net sales and Brazil non-alcoholic beverages generated 9.4%; these figures do not represent a company-wide beer-versus-non-alcoholic split. [14](https://app.finbar.com/go?id=P151298013)[15](https://app.finbar.com/go?id=P151298010)[16](https://app.finbar.com/go?id=T17381699)
[8](https://app.finbar.com/go?id=P151298035)[9](https://app.finbar.com/go?id=P151298039)[10](https://app.finbar.com/go?id=P151298537)[11](https://app.finbar.com/go?id=P151298042)[12](https://app.finbar.com/go?id=P151298044)[13](https://app.finbar.com/go?id=P151298189)[14](https://app.finbar.com/go?id=P151298013)[15](https://app.finbar.com/go?id=P151298010)[16](https://app.finbar.com/go?id=T17381699)[16](https://app.finbar.com/go?id=T17381699)

## Geographic presence

Ambev’s operations are organized into four geographic segments: Brazil; Central America and the Caribbean, comprising the Dominican Republic, Cuba, Guatemala and Panama; Latin America South, comprising Argentina, Bolivia, Paraguay, Uruguay and Chile; and Canada. The company reports beverage production, distribution and sales across 11 countries in the Americas. Its registered office is in São Paulo, Brazil. [1](https://app.finbar.com/go?id=P165580198)[4](https://app.finbar.com/go?id=P165580199)[17](https://app.finbar.com/go?id=P165580200)[18](https://app.finbar.com/go?id=P165580201)[19](https://app.finbar.com/go?id=P165580202)[20](https://app.finbar.com/go?id=P165580203)[21](https://app.finbar.com/go?id=P165581249)

In 2025, Brazil generated R$49.0 billion, or 55.6%, of Ambev’s net sales. Latin America South contributed R$18.0 billion (20.4%), Central America and the Caribbean R$11.0 billion (12.4%), and Canada R$10.3 billion (11.6%). Ambev reported 39,606 employees at year-end 2025: 24,012 in Brazil, 8,174 in Latin America South, 4,091 in Central America and the Caribbean, and 3,329 in Canada. [22](https://app.finbar.com/go?id=T19313968)[23](https://app.finbar.com/go?id=T19314092)
[1](https://app.finbar.com/go?id=P165580198)[4](https://app.finbar.com/go?id=P165580199)[17](https://app.finbar.com/go?id=P165580200)[18](https://app.finbar.com/go?id=P165580201)[19](https://app.finbar.com/go?id=P165580202)[20](https://app.finbar.com/go?id=P165580203)[21](https://app.finbar.com/go?id=P165581249)[22](https://app.finbar.com/go?id=T19313968)[23](https://app.finbar.com/go?id=T19314092)[23](https://app.finbar.com/go?id=T19314092)[23](https://app.finbar.com/go?id=T19314092)[23](https://app.finbar.com/go?id=T19314092)[23](https://app.finbar.com/go?id=T19314092)

## Business segments

Ambev reports four geographic business segments: Brazil, Central America and the Caribbean (CAC), Latin America South (LAS), and Canada. Based on 2025 net sales, Brazil contributed approximately 56% of the total, LAS 20%, CAC 12%, and Canada 12%. [24](https://app.finbar.com/go?id=P165581974)

Brazil covers beer and non-alcoholic beverages; Ambev also presents these as separate Brazil Beer and Brazil NAB categories, which accounted for approximately 82% and 18% of Brazil’s 2025 net sales, respectively. [25](https://app.finbar.com/go?id=P165581984) CAC covers the Dominican Republic, Cuba, Guatemala and Panama, while LAS covers Argentina, Bolivia, Paraguay, Uruguay and Chile. [26](https://app.finbar.com/go?id=P165580525)[27](https://app.finbar.com/go?id=P165580526) The Canada segment encompasses Ambev’s Canadian beer and other beverage operations. [28](https://app.finbar.com/go?id=P165580429)[29](https://app.finbar.com/go?id=P165580469)
[24](https://app.finbar.com/go?id=P165581974)[25](https://app.finbar.com/go?id=P165581984)[26](https://app.finbar.com/go?id=P165580525)[27](https://app.finbar.com/go?id=P165580526)[28](https://app.finbar.com/go?id=P165580429)[29](https://app.finbar.com/go?id=P165580469)

## Company history

Ambev traces its roots to two Brazilian brewers: Antarctica, founded in 1885, and Brahma, founded in 1888. Their combination was announced in 1999, with the final exchange of Brahma shares for Ambev shares completed in 2000. [30](https://app.finbar.com/go?id=P151297922)[31](https://www.just-drinks.com/news/brazil-ambev-announces-the-completion-of-the-combination-of-brahma-and-antarctica/)

In the early 2000s, Ambev acquired a stake and joint control in Quinsa, extending its presence across several South American markets. In 2004, it combined with Interbrew in a transaction that brought Canadian brewer Labatt into Ambev; Interbrew subsequently became InBev. Ambev increased its Quinsa interest to 91% in 2006. [32](https://app.finbar.com/go?id=P151297925)[33](https://app.finbar.com/go?id=P151297926)[34](https://app.finbar.com/go?id=P151297928) The present Ambev S.A. legal entity was incorporated in 2005. A 2013 share exchange made its predecessor, Old Ambev, a wholly owned subsidiary and established Ambev S.A. as the continuing listed company. [30](https://app.finbar.com/go?id=P151297922)[35](https://app.finbar.com/go?id=P151297946)
[30](https://app.finbar.com/go?id=P151297922)[32](https://app.finbar.com/go?id=P151297925)[33](https://app.finbar.com/go?id=P151297926)[34](https://app.finbar.com/go?id=P151297928)[35](https://app.finbar.com/go?id=P151297946)[31](https://www.just-drinks.com/news/brazil-ambev-announces-the-completion-of-the-combination-of-brahma-and-antarctica/)

## Sources

1. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580198)
2. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165581857)
3. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580263)
4. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580199)
5. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580234)
6. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313965)
7. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580949)
8. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298035)
9. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298039)
10. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298537)
11. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298042)
12. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298044)
13. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298189)
14. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298013)
15. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151298010)
16. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T17381699)
17. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580200)
18. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580201)
19. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580202)
20. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580203)
21. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165581249)
22. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313968)
23. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19314092)
24. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165581974)
25. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165581984)
26. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580525)
27. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580526)
28. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580429)
29. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580469)
30. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151297922)
31. [www.just-drinks.com](https://www.just-drinks.com/news/brazil-ambev-announces-the-completion-of-the-combination-of-brahma-and-antarctica/)
32. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151297925)
33. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151297926)
34. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151297928)
35. [AMBEV S.A. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P151297946)

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