New BMO-Sponsored Index Ranks Largest Latino-Owned Companies in the U.S.

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Apr 11, 2023, 13:00 ET

The inaugural Index is a compilation of the 200 largest Latino-owned businesses in the U.S. by revenue

CHICAGO, April 11, 2023 /PRNewswire/ - BMO has partnered with Latino Leaders Magazine to launch Index 200, a list of Latino-owned companies in the U.S. ranked by revenue. The Index is a snapshot of the influence Latino businesses carry in the U.S. and includes both public and private-owned companies. To qualify for the list, a company must be headquartered in the U.S. and the owner or control of operations must be of Latino origin.

The businesses featured throughout the Index represent 25 industries, including construction, food and beverage, auto retail, manufacturing, and technology. They are headquartered in 24 different states, including California, Florida, Texas, Illinois, Colorado, and Wisconsin. It is estimated that these 200 businesses generated over $93 billion in revenue in 2022, showcasing their size and strength across a multitude of industries, as well as their impact on the communities they operate in.

"Latino-owned companies are growing faster than most other businesses within their industry sectors and continue to play an integral role in the U.S. economy," said Eduardo Tobon, Director, Economic Equity Advisory Group, BMO. "BMO is committed to fueling the growth of Latino businesses and enabling them to make progress toward their goals. The launch of the Index aligns closely with our Purpose to Boldly Grow the Good in business and life, and we look forward to our continued partnership with Latino Leaders Magazine."

The Index 200 features a notable list of businesses, including:

Anaheim Angels: The Anaheim Angels are a Major League Baseball team based in the Los Angeles area. The team is owned by Arturo Moreno, who was the first Latino to own a major U.S. sports team.
Carvana: Carvana is a digital used car retailer, providing car shoppers a better way to buy a car. Ernest Garcia III has been President and CEO of Carvana since its inception in 2012.
The Honest Company: Founded by actress Jessica Alba, The Honest Company is a mission-driven company providing safe & effective products for babies, personal care, cleaning, and vitamins.

As part of BMO EMpower 2.0, the bank's more than $40 billion community benefits plan, we are proud to be fueling growth for Latino businesses with better access to capital, educational resources, and meaningful networking opportunities.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.15 trillion as of January 31, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 12 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and more inclusive society.

SOURCE BMO Financial Group