Grupo Mateus has concluded the second quarter of 2025 with 271 stores in operation. None of them in São Paulo or Rio de Janeiro. However, this hasn’t stopped the retailer, which originated from a humble grocery store in rural Maranhão, from becoming one of the most prominent names in its sector. For four consecutive years, it has placed third in a ranking by the Brazilian Supermarket Association (Abras), lagging behind only Carrefour, the first place, and Assaí, in profits.

In the ranking EXAME MELHORES E MAIORES (a ranking with the best and biggest companies in Brazil), Mateus group occupies the top spot in wholesale and retail. One of the reasons for this is the 20% growth in its profits between 2023 and 2024, which is twice the segment’s average. Last year, the company focused on profitability. It felt the drops in volume but managed to maintain higher prices in these moments, thereby protecting its results from macroeconomic perils.

“We now live in a slightly more deflationary moment, but that keeps on being extremely challenging for us to keep the consistency of our results”, affirms Jesuino Martins, the group’s CEO. “Considering the macroeconomic scenario, this is likely to endure and demand much resilience and caution from the wholesale market.”

The challenges, however, haven’t stopped the company’s expansion, with the opening of 11 new stores and the purchase of Novo Atacarejo, another northeastern chain, reinforcing its hold on the region.

“We have traced plans that have a keen eye on stores and regions with the best return rates. The strategic need to strengthen the company’s relevance has driven us to keep moving, always attentive to new business opportunities as well”, says Martins.

The tendency to grow above wholesale is expected to continue in 2025, along with a priority on profitability without compromising the opening of new stores. “In a landscape of high interest rates, we need to be more careful with our investments, but we keep strong and steady in our expansion”, concludes the CEO.