Assaí () and Atacadão, Carrefour (CRFB3) networks, are the two most valuable brands in the sector in Brazil. Supported in their national presence, companies attribute the result to the expansion of their operations throughout Brazil.
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Mix Mateus, BH Supermarkets and Sugar Loaf () close the top 5 among the most valuable supermarket brands in the country. more valuable Brazilian brands of the segment was prepared in partnership between TM20 and Infomoneytogether with Brazil Panels and Elosa Ayta.

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Check out the full list of the most valuable brands of food retail:
Position | Mark |
1ª | Assaí |
2ª | Attacking |
3ª | Mix Mateus |
4ª | BH supermarkets |
5ª | Sugar bread |
6ª | Fort wholesaler |
7ª | Super Muffato |
8ª | Supermarkets Mateus |
9ª | Zaffari |
10ª | Mart Minas |
11ª | Condor Supermarkets |
12ª | Guanabara |
13ª | Max wholesaler |
14ª | Atakarejo |
15ª | Angeloni |
In the lead, Assaí has brand strength, with high knowledge, good consideration and confidence. Its position, however, is anchored at low prices, which reduces its brand contribution is low.
This term, brand contribution, represents the percentage of sales of the company that would be lost, if not for the brand. The term “brand strength” represents its size, as its knowledge and consideration in each region. The value of the brand, in turn, is the financial measurement of its influence on business results.
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The turn of the atacarejos?
According to the CEO of TM20 Branding, wholesale nets like Assaí and Atacadão occupied a market presence that was once the hypermarkets. “They are national networks, both with an outstanding profitability. It is a mix of scale and market value, as they are two publicly traded companies,” he says.
Cash & Carry, or simply atacharejo, have taken the space of major supermarket brands in recent years. It was during this time when large networks like Assaí and Atacadão were sprayed throughout the country.
At the top of the ranking, Assaí opened more than 120 stores in regions treated as strategic: large urban centers and densely populated regions. “This has significantly expanded our capillarity and brand presence,” says Assaí CMO Marly Yamamoto. The operation of the chain has 302 stores in all regions of the country.
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According to the executive, the company uses regionalized intelligence, such as consumer behavior data and local insights, to direct campaigns and promotional actions. “It is essential to ensure that marketing actions are relevant, segmented and culturally connected to the regions.”
In 2007, Atacadão was acquired by the Carrefour Brazil group and intensified its national expansion. The network says it has also expanded investments in technology, logistics and operational structure, as well as diversified its sales mix.
“We attribute this recognition to our broad national presence – we are the only cash & carry network present in all states of Brazil, with 382 self -service stores and 36 units of wholesale delivery and distribution centers, reaching 95% of Brazilian municipalities,” says CEO of Atacadão, Marco Oliveira.
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For him, this capillarity is what allows the company to serve a broad group of customers, from small traders and entrepreneurs to end consumers.
Among the image attributes mentioned in the research, “accessible” is mentioned in both cases. “Reliable and ethics” and “leader” are other characteristics mentioned.
Food retail
The food retail sector has a multiple of company value by EBITDA (profit before financial expenses, depreciation and amortization) of 5.7x, virtually in line with the Ibovespa median (5.71x), indicating a neutral pricing compared to the market average, EINS AYTA.
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“Although below more defensive sectors such as electricity (7.10x) and transportation (6.86x), it is still positioned above discounted segments such as telecommunications (4.12x) and travel and leisure (4.03x),” he says. “This reflects a perception of balance between risk and stability, with investors attributing to feed retail a resilient profile, although with challenges on margins and competition.”
The research
The study was done with consumers of food retail, considering supermarkets and “cash & carry”, in five regions of Brazil. “For the first time we compare to this category national brands, such as Assaí, Atacadão and Sugar Loaf, with strong local brands such as Mateus Group, BH and Zaffari Supermarkets,” explains Tomiya.
The research listened to 500 people from classes A, B, C, D and and in the five regions of Brazil. Respondents are stimulated with 30 brands, based on a market research prepared by TM20 and conducted by Brazil Panels.
“Brazil Panels uses web interviews (Cawi) on our exclusive and owner platform, combining rigor and agility to capture what really moves consumers,” says Brazil Panels CEO Claudio Vasques.