# AMBEV S.A.

Summary updated: 2026-10-02T09:04:18.767408Z
Canonical: https://finbar.com/research/companies/ambev-s-a

## Overview

Ambev S.A. is a beverage company that produces, distributes and sells beer and other alcoholic and non-alcoholic drinks. Its portfolio includes well-known beer brands such as Skol, Brahma, Stella Artois and Budweiser, as well as soft drinks, water, malt beverages and energy drinks. [1](https://app.finbar.com/go?id=P165580266)[2](https://www.ambev.com.br/nossas-marcas)

The company’s operations are concentrated in the Americas. Ambev reports direct operations in 10 countries, including Brazil, Argentina, Canada, Chile and Uruguay, and a 50% interest in a Cuban brewery. Its stated purpose is “sonhar grande por um futuro com mais razões para brindar,” or “dream big for a future with more reasons to toast.” [3](https://ri.ambev.com.br/en/faqs/)[4](https://www.ambev.com.br/sobre-ambev)

For FY2025, Ambev reported net sales of approximately R$88.2 billion and had 39,606 employees at year-end. [5](https://app.finbar.com/go?id=P165580949)[1](https://app.finbar.com/go?id=P165580266)
[1](https://app.finbar.com/go?id=P165580266)[5](https://app.finbar.com/go?id=P165580949)[2](https://www.ambev.com.br/nossas-marcas)[3](https://ri.ambev.com.br/en/faqs/)[4](https://www.ambev.com.br/sobre-ambev)

## Products & services

Ambev’s portfolio spans beer, ready-to-drink beverages and spritzers, soft drinks, water, tea, and sports drinks. Beer brands include Brahma, Skol, Antarctica, Bohemia, Colorado, Original, Spaten, Stella Artois, Budweiser, Corona, and Michelob ULTRA; non-alcoholic brands sold in Brazil include Guaraná Antarctica, Pepsi, H2OH!, Gatorade, Lipton, Fusion, and Red Bull. Its portfolio also includes zero-alcohol beers such as Brahma 0,0%, Budweiser Zero, and Corona Cero. [6](https://app.finbar.com/go?id=T19313890)[7](https://app.finbar.com/go?id=T19313893)[2](https://www.ambev.com.br/nossas-marcas)

Beyond Beer products include Beats and Brutal Fruit Spritzer; Flying Fish, launched in 2025, is a flavored beer designed for consumers who dislike traditional beer’s bitterness. Ambev also launched Guaraná Antarctica com Fibras, a version of the soft drink with added fiber. In Brazil, 2025 net sales were R$40,230.7 million for beer and R$8,800.1 million for non-alcoholic beverages—approximately 82% and 18% of the country total, respectively, calculated from the reported figures. [8](https://app.finbar.com/go?id=P165580277)[9](https://app.finbar.com/go?id=T19314455)

Digital service offerings include BEES, a B2B ordering and marketplace platform with product suggestions, order tracking, app support, and access to non-Ambev products, and Zé Delivery, a Brazil-based direct-to-consumer delivery platform. In 2025, Zé Delivery operated in more than 800 cities, delivered over 66 million orders, and had more than 27 million yearly active users. [10](https://app.finbar.com/go?id=P165580251)[11](https://app.finbar.com/go?id=P165580248)
[6](https://app.finbar.com/go?id=T19313890)[7](https://app.finbar.com/go?id=T19313893)[8](https://app.finbar.com/go?id=P165580277)[9](https://app.finbar.com/go?id=T19314455)[9](https://app.finbar.com/go?id=T19314455)[9](https://app.finbar.com/go?id=T19314455)[10](https://app.finbar.com/go?id=P165580251)[11](https://app.finbar.com/go?id=P165580248)[2](https://www.ambev.com.br/nossas-marcas)[2](https://www.ambev.com.br/nossas-marcas)

## Geographic presence

Ambev’s operations are organized into four geographic segments: Brazil; Central America and the Caribbean (CAC); Latin America South (LAS); and Canada. Its official company information lists direct operations in Argentina, Bolivia, Brazil, Canada, Chile, Guatemala, Panama, Paraguay, the Dominican Republic and Uruguay. Cuba appeared in the 2025 reporting footprint, but Ambev later deconsolidated its 50% interest in Cervecería Bucanero; accordingly, the company’s current operating-country list excludes Cuba. [12](https://app.finbar.com/go?id=P165580200)[13](https://app.finbar.com/go?id=P165580201)[14](https://app.finbar.com/go?id=P165580202)[15](https://app.finbar.com/go?id=P165580203)[3](https://ri.ambev.com.br/en/faqs/)

In FY2025, net sales were R$88,242.5 million: Brazil contributed R$49,030.8 million (55.6%), CAC R$10,963.9 million (12.4%), LAS R$17,988.3 million (20.4%) and Canada R$10,259.5 million (11.6%). [16](https://app.finbar.com/go?id=T19313858) The company’s production facilities span these regions, including sites in multiple Brazilian states; Guatemala and the Dominican Republic; Argentina, Bolivia and Chile; and Canadian locations including St. John’s, Halifax, Montreal, London and Edmonton. [17](https://app.finbar.com/go?id=T19313926)[18](https://app.finbar.com/go?id=T19313929)[19](https://app.finbar.com/go?id=T19313930)[20](https://app.finbar.com/go?id=T19313931)

Ambev’s registered office and headquarters are in São Paulo, Brazil. [21](https://app.finbar.com/go?id=P165579612)[22](https://app.finbar.com/go?id=P165581249) At December 31, 2025, the company reported 39,606 employees, with approximate regional counts of 24,000 in Brazil, 4,000 in CAC, 8,000 in LAS and 3,000 in Canada. [3](https://ri.ambev.com.br/en/faqs/)
[12](https://app.finbar.com/go?id=P165580200)[13](https://app.finbar.com/go?id=P165580201)[14](https://app.finbar.com/go?id=P165580202)[15](https://app.finbar.com/go?id=P165580203)[16](https://app.finbar.com/go?id=T19313858)[17](https://app.finbar.com/go?id=T19313926)[18](https://app.finbar.com/go?id=T19313929)[19](https://app.finbar.com/go?id=T19313930)[20](https://app.finbar.com/go?id=T19313931)[21](https://app.finbar.com/go?id=P165579612)[22](https://app.finbar.com/go?id=P165581249)[3](https://ri.ambev.com.br/en/faqs/)

## Business segments

Ambev reports four geographic business segments. Brazil generated net sales of R$49.0 billion, approximately 55.6% of consolidated net sales in 2025; the segment includes beer and non-alcoholic beverages (NAB). CAC (Central America and the Caribbean), covering operations including the Dominican Republic, Cuba, Guatemala and Panama, contributed R$11.0 billion (12.4%). Latin America South, covering Argentina, Bolivia, Paraguay, Uruguay and Chile, contributed R$18.0 billion (20.4%). Canada, comprising Labatt’s Canadian operations, contributed R$10.3 billion (11.6%). Shares are calculated from reported segment net sales of R$88.2 billion. [23](https://www.sec.gov/Archives/edgar/data/1565025/000129281426000640/abevform20f_2025.htm)

The company also presents a product split within Brazil: Beer Brazil generated R$40.2 billion (45.6% of consolidated net sales) and NAB generated R$8.8 billion (10.0%). These are product categories within the Brazil segment, not additional geographic segments; the other three segments are reported as regional totals in the segment sales breakdown. [23](https://www.sec.gov/Archives/edgar/data/1565025/000129281426000640/abevform20f_2025.htm)
[23](https://www.sec.gov/Archives/edgar/data/1565025/000129281426000640/abevform20f_2025.htm)

## Company history

Antarctica was founded in 1885, and Brahma’s predecessor was established in 1888; Brahma was renamed Companhia Cervejaria Brahma in 1904. Ambev traces its origins to these two Brazilian brewers, which joined in 1999–2000 to form Companhia de Bebidas das Américas (Ambev). [24](https://app.finbar.com/go?id=P165580155)[4](https://www.ambev.com.br/sobre-ambev)

Ambev expanded across Latin America from the mid-1990s and increased its presence in Argentina, Bolivia, Paraguay and Uruguay through its investment in Quinsa, raising its stake to 91% in 2006. [25](https://app.finbar.com/go?id=P165580156)[26](https://app.finbar.com/go?id=P165580158) In August 2004, a combination with Interbrew brought Labatt into the group; Interbrew later became InBev and, following its 2008 acquisition of Anheuser-Busch, Anheuser-Busch InBev. [27](https://app.finbar.com/go?id=P165580159)[28](https://app.finbar.com/go?id=P165580168)[29](https://app.finbar.com/go?id=P165580169)[30](https://app.finbar.com/go?id=P165580170)[31](https://app.finbar.com/go?id=P165580171) Ambev S.A., the present legal entity, was incorporated in 2005 as a successor to the earlier Ambev entity; in 2013, that predecessor became its wholly owned subsidiary. [24](https://app.finbar.com/go?id=P165580155)[32](https://app.finbar.com/go?id=P165580179)
[24](https://app.finbar.com/go?id=P165580155)[25](https://app.finbar.com/go?id=P165580156)[26](https://app.finbar.com/go?id=P165580158)[27](https://app.finbar.com/go?id=P165580159)[28](https://app.finbar.com/go?id=P165580168)[29](https://app.finbar.com/go?id=P165580169)[30](https://app.finbar.com/go?id=P165580170)[31](https://app.finbar.com/go?id=P165580171)[32](https://app.finbar.com/go?id=P165580179)[4](https://www.ambev.com.br/sobre-ambev)[4](https://www.ambev.com.br/sobre-ambev)

## Sources

1. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580266)
2. [www.ambev.com.br](https://www.ambev.com.br/nossas-marcas)
3. [ri.ambev.com.br](https://ri.ambev.com.br/en/faqs/)
4. [www.ambev.com.br](https://www.ambev.com.br/sobre-ambev)
5. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580949)
6. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313890)
7. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313893)
8. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580277)
9. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19314455)
10. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580251)
11. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580248)
12. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580200)
13. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580201)
14. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580202)
15. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580203)
16. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313858)
17. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313926)
18. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313929)
19. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313930)
20. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T19313931)
21. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165579612)
22. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165581249)
23. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1565025/000129281426000640/abevform20f_2025.htm)
24. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580155)
25. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580156)
26. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580158)
27. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580159)
28. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580168)
29. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580169)
30. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580170)
31. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580171)
32. [AMBEV S.A. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P165580179)

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