The Richmond region has two additions to this year’s Fortune 1000 list of the nation’s largest publicly traded companies, while 10 other companies with local headquarters are making repeat appearances on the annual list.
Seven of those businesses landed on this year’s elite Fortune 500, published by Fortune magazine since 1955. The list, released Wednesday, ranks America’s public companies by revenue for their most recent fiscal years.
The seven Fortune 500 companies are the same as last year, but the rankings have changed, dramatically in some cases.
Several local companies made sizable jumps in the rankings, most notably Goochland County-based food service distributor Performance Food Group Co., which jumped 54 spots from No. 168 on the 2020 list to No. 114 on the 2021 list with almost $25.1 billion in revenue.
The jump makes Performance Food Group the top-ranked Richmond-area company on the Fortune 500 this year and the sixth-highest-ranked company in Virginia.
Performance Food Group could rise even higher next year after the company’s announcement in May that it is buying Core-Mark Holding Co. Inc., one of the largest wholesale distributors to convenience stores in North America, in a stock and cash deal valued at $2.5 billion. The deal would add about $17 billion in net annual sales.
Other companies that moved up the Fortune 500 include stalwarts such as Goochland-based automotive retailer CarMax Inc., which went up 37 spots to No. 136, Henrico County-based tobacco giant Altria Group Inc., which moved up 29 spots to No. 138, and Richmond-based utility and energy provider Dominion Energy Inc., which rose four spots to No. 193.
Henrico-based technology staffing company ASGN Inc., formerly known as On Assignment, is on the Fortune 1000 list at No. 622 with $3.95 billion in sales. The company relocated its headquarters from California last year.
Arko Corp., the Henrico-based parent company of Fas Mart and more than a dozen other convenience store chains that operate in 33 states, made its debut on this year’s Fortune 1000. It was ranked at No. 681.
The company, formerly GPM Investments LLC, became publicly traded in December 2020 as a result of a merger between Arko Holdings Ltd., the Israeli public holding company that controlled the majority of the convenience store chain, with Haymaker Acquisition Corp. II, a Nasdaq-listed, special purpose acquisition company.
“We’re honored to be featured alongside so many great Virginia-based companies in this year’s Fortune 1000 list,” Arie Kotler, chairman, president and chief executive officer of Arko, said in a statement Wednesday. “The recognition is a true testament to Arko’s 10,000-plus associates [employees] on the front lines taking care of our customers every day.”
The other area companies on the Fortune 1000 were: secure transportation and logistics provider Brink’s Co. at No. 650; fuel additives maker NewMarket Corp. at No. 954; and tobacco leaf dealer Universal Corp. at No. 981.
Twenty-two Virginia companies made the Fortune 500, while 17 more made the Fortune 1000. There was a total of 35 companies on the Fortune 1000 last year.
Mortgage finance giant Freddie Mac remains the state’s largest company. The McLean-based company fell six spots to No. 47 this year with revenue of $66.23 billion.
General Dynamics, at No. 84, was second in the state, while Northrop Grumman was third at No. 86.
McLean-based Capital One Financial Corp., the Richmond region’s largest private employer, was Virginia’s fourth-largest company. It fell two spots to No. 99.
On the overall Fortune 500 list, retailer Walmart Inc. took the top spot for the ninth year in a row with almost $560 billion in revenue.
Online retailer Amazon.com Inc. also held onto its No. 2 spot with a 38% jump in revenue to $386 billion. In the No. 3 spot is iPhone maker Apple Inc., which is the most profitable company on the 2021 Fortune 500 with $57 billion in profit.