In the company’s annual report, Cargill CEO David MacLennan described 2020 as challenging but reminded stakeholders that the 155-year-old company has seen crises before. He described revenues as steady. private companies list. Both appeared on our inaugural list in 1985 and on every list since then. Back in 1985, Cargill took the top spot with $30 billion in sales while Koch Industries had sales of $12 billion and was ranked fourth.
This year there was some movement. Supermarket chain Albertsons, ranked No. 3 last year, went public via a $800 million IPO in June and therefore no longer appears on this year’s ranking. Albertsons had been on the verge of leaving the list a few times since becoming private in 2013. The first attempt was in 2015 via a public offering that was postponed due to market conditions.
In addition to Albertsons, 19 other companies didn’t make the list this year either because of a public offering, falling revenues or an acquisition. Rock Ventures, No. 62 in 2019, is the holding company for Quicken Loans and a portfolio of other companies owned by billionaire Dan Gilbert. The mortgage lending and financial services companies were spun off into a new company called Rocket Companies that began trading in August.
Eleven companies joined the ranks in 2020, a combination of new companies and returnees to the list. Standard Industries is the highest ranked newcomer at No. 69 and gets a spot due to new information from the company about its structure. Prior lists had included G-I Holdings with the understanding that it was the parent company of Standard Industries as well as of other building material manufacturers such as GAF and BMI Group.
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Source: Forbes - 🏆 394. / 53 Read more »
Source: Forbes - 🏆 394. / 53 Read more »