25 Largest Privately Held Companies in America
In this article, we will look at the 25 largest privately held companies in America. If you want to explore similar companies, you can also take a look at 5 Largest Privately Held Companies in America.
The largest privately held companies in America are often family owned and operated businesses. These companies range from retail, finance, and technology to food, hospitality, and manufacturing. Private companies play an important role in the US economy, providing goods and services that drive economic growth, create jobs, and improve quality of life.
Why Are Some of the Largest Companies in America Still Privately Held?
Private companies have several advantages over public companies, including the ability to remain private and make decisions without the need for investor approval. Private companies are not subject to the same level of public scrutiny as public companies, which can give them more flexibility to make decisions and pursue strategies with a long-term focus, instead of pushing to meet short-term goals to please shareholders. Private companies are not required to disclose financial information to the public, which can help them keep their competitive edge and maintain confidentiality.
Some of the largest companies in America are still privately held because the owners believe that it is the best way to maximize their profits. Private ownership allows businesses to avoid the scrutiny of the public markets and the associated costs, such as regulatory compliance and the need to report financial information to the public. Additionally, private companies are typically less vulnerable to takeover attempts or hostile takeovers. Finally, the owners of private companies often retain control over their businesses and can make decisions more quickly than public companies.
Private companies come in all shapes and sizes, ranging from small mom-and-pop shops to large corporations. Their impact on the American economy is undeniable, and the future of the nation’s economic health depends on their continuing success. Some of the largest privately held companies in America have managed to stay private for decades, and grow to sizes that rival giants like Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG). This piece will discuss some of the largest privately held companies in America.
To determine the largest privately held companies in America, we consulted business magazines, reports, and conducted extensive research around the topic. We perused the lists of the largest and most lucrative private companies in America that are compiled by authoritative business magazines such as Forbes and Fortune.
We then tracked down each company’s financial reports on their official website and other reliable sources. As stated above, it is not mandatory for private companies to make their financial data public. This can complicate the process of determining the size of the company. To evaluate the businesses in this case, we looked at the annual revenue of each company's most recent fiscal year and ranked them in ascending order of this metric. The annual revenue was sourced from official annual reports and Forbes' company profiles.
Largest Privately Held Companies in America
25. Allegis Group, Inc.
Annual Revenue: $14.8 Billion
Allegis Group, Inc. is a privately owned global staffing and recruiting firm. Founded in 1983, the company is headquartered in Hanover, Maryland, and serves clients in more than 60 countries. Allegis Group, Inc. provides staffing and recruiting solutions for a variety of industries, including information technology, engineering, finance, legal, life sciences, creative services, and more. The company is one of the largest privately held companies in America, with annual revenue of over $14.8 billion.
Some of the largest public companies in America include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
24. Wawa, Inc.
Annual Revenue: $14.93 Billion
Wawa, Inc. operates a chain of convenience stores and gas stations located in the Mid-Atlantic region of the United States. Founded in 1964 in Wawa, Pennsylvania, the company now operates over 950 stores in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida, and Washington, D.C. Wawa, Inc. employs over 35,000 people across the U.S. and is among the largest privately held businesses in America.
23. Kingston Technology
Annual Revenue: $15.9 Billion
Kingston Technology is a global leader in memory and storage products. Founded in 1987, the company has grown to become one of the largest independent manufacturers of memory products worldwide. Kingston Technology offers SSDs, DRAM, memory cards, USB flash drives and more. The company's annual revenue borders $16 billion.
22. RaceTrac Petroleum
Annual Revenue: $16.2 Billion
RaceTrac Petroleum is an American gasoline station and convenience store chain based in Atlanta, Georgia. The company operates more than 550 gas stations and convenience stores throughout the United States. In 2022, RaceTrac Petroleum generated an annual revenue of $16.2 billion according to Forbes' estimates. The company is one of the largest privately held companies in America.
Annual Revenue: $16.4 Billion
QuikTrip is a convenience store chain that operates in the United States. The company was founded in 1958 in Tulsa, Oklahoma and has since grown to a chain of more than 900 stores across 14 states. The company employs roughly 24,000 individuals and its annual revenue amounted to $16.4 billion its most recent fiscal year.
Annual Revenue: $17.5 Billion
Bechtel is an American engineering, construction and project management company. It is one of the largest private companies in the United States and is headquartered in Reston, Virginia. The company has over 50,000 employees working in more than 50 countries. Bechtel has an estimated annual revenue of $17.5 billion.
Annual Revenue: $18.04 Billion
Tenneco is an American corporation that specializes in the manufacturing and distribution of automotive parts and technologies. The company was founded in 1940 and is headquartered in Lake Forest, Illinois. The company has operations in more than 25 countries and has roughly 78,000 employees. Tenneco is among the largest privately held companies in America.
Annual Revenue: $18.4 Billion
Tenaska is an energy company that is headquartered in Omaha, Nebraska. Founded in 1987, Tenaska is one of the largest independent power producers in the United States. The company develops, owns, operates, and markets electric power generation facilities in the United States and Canada.
17. JM Family Enterprises
Annual Revenue: $18.84 Billion
JM Family Enterprises is a diversified automotive corporation based in Deerfield, Florida. Founded in 1969 by Jim Moran, the company is one of the largest privately held companies in the United States, by revenue. JM Family Enterprises has an estimated annual revenue of $18.84 billion, as of 2022, according to Forbes.
16. Gordon Food Service
Annual Revenue: $19 Billion
Gordon Food Service is an American foodservice distributor based in Grand Rapids, Michigan. Founded in 1897, the company operates over 40 distribution centers throughout the United States and employs more than 20,000 people. Gordon Food Service is one of the largest foodservice distributors in North America and is the largest privately held foodservice distributor in the United States.
15. Medline Industries
Annual Revenue: $20.2 Billion
Medline Industries is a privately-held healthcare company based in Northfield, Illinois. It is one of the largest privately-held manufacturers and distributors of medical supplies in the United States. The company was founded in 1966 and has grown to become a leader in the medical supply industry. Forbes' estimates the company's annual revenue in 2022 amounted to $20.2 billion.
Annual Revenue: $20.48 Billion
Meijer is a large American supercenter chain that was founded in 1934 by Hendrik Meijer. The company operates more than 240 supercenters across the U.S. and employs over 70,000 people. Meijer is ranked among the largest privately-held enterprises in America, with annual revenue exceeding $20.4 billion, as of 2022.
13. Cox Enterprises
Annual Revenue: $20.9 Billion
Cox Enterprises is a privately-owned global conglomerate founded in 1898 by James M. Cox. The company is best known for its media, automotive, and communications businesses, which have grown to include several subsidiaries operating in a variety of industries. Cox Enterprises generated an annual revenue of $20.9 billion in 2022, according to estimates by Forbes.
12. Fidelity Investments
Annual Revenue: $24 Billion
Fidelity Investments is one of the world’s largest and most respected financial services companies. It offers a wide range of products, from mutual funds and ETFs to retirement planning, estate planning, annuities, and more. Founded in 1946, Fidelity Investments has grown to manage trillions of dollars in assets for more than 40 million individuals, families, and institutions around the world. Fidelity Investments is one of the largest privately-held companies in America.
America is home to giants like Fidelity Investments, Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).
11. Southern Glazer's Wine & Spirits
Annual Revenue: $25 Billion
Southern Glazer's Wine & Spirits is one of the world's largest wine and spirits distributor, operating in 44 states. The company has been in business since 1968, and is committed to providing superior customer service, offering a wide range of products, programs and services to meet the needs of its customers. Southern Glazer's Wine & Spirits generated an annual revenue of $25 billion in 2022, according to Forbes.
10. Love's Travel Stops & Country Stores
Annual Revenue: $25.5 Billion
Love's Travel Stops & Country Stores is a leading chain of travel stops and convenience stores in the United States. Established in 1964, Love's has grown to operate over 600 locations in 42 states, providing customers with a wide variety of convenience services and amenities. From fueling services and truck maintenance, to convenience stores, Love's Travel Stops & Country Stores provides a one-stop shopping experience for travelers.
9. Enterprise Holdings
Annual Revenue: $30 Billion
Enterprise Holdings is one of America's largest and most successful car rental and car sharing companies. They are the parent company of Enterprise Rent-A-Car, Alamo Rent A Car, and National Car Rental. They have over 7,600 neighborhood and airport locations in more than 85 countries and territories, making them one of the largest privately-held car rental companies in America.
8. C&S Wholesale Grocers
Annual Revenue: $33 Billion
C&S Wholesale Grocers is a leading wholesale grocery supply company that provides groceries to supermarkets, independent grocers, and military bases across the United States. The company was founded in 1918 and is headquartered in Keene, New Hampshire. C&S Wholesale Grocers is one of the largest privately-held companies in America, by revenue.
7. Reyes Holdings
Annual Revenue: $35.3 Billion
Reyes Holdings is a leading global food and beverage distributor, with operations in the United States, Canada, Europe, the Middle East, and Asia. The company offers an extensive portfolio of independent brands and has a long history of success that dates back to 1976. Reyes Holdings employs over 33,000 people and has an estimated annual revenue of over $35 billion, according to Forbes.
Annual Revenue: $38.9 Billion
H-E-B is one of the largest grocery retailers in the United States, operating more than 400 stores across Texas and Mexico. Founded in 1905 by Florence Butt, the company has grown to become a Texas icon. H-E-B employs over 145,000 people and has an annual revenue of $38.9 billion, as of 2022.
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Disclosure: None. 25 Largest Privately Held Companies in America is originally published on Insider Monkey.