Fortune magazine announced today that global technology distributor Avnet, Inc. ranked No. 414 on the 2012 Fortune Global 500, a list of the world’s largest corporations. With $26.5 billion in sales in fiscal year 2011, Avnet appeared on this global list for the first time in its history. In addition, Avnet was previously named No. 108 on the 2012 Fortune 500 list of largest U.S. companies, and No. 1 on the 2012 Fortune’s World’s Most Admired Companies list in the Wholesaler: Electronics and Office Equipment category for the fourth year in a row.
“Avnet’s emergence onto the Fortune Global 500 list is a direct result of our team’s commitment to accelerating the success of our valued customer and supplier partners around the globe,” said Rick Hamada, CEO of Avnet, Inc. “This milestone ranking is a reflection of Avnet’s long-term strategy to leverage our global scale and scope into local benefits for our partners, while continuing to invest in profitable growth through both organic initiatives and value-creating acquisitions.”
Companies are ranked on the Fortune Global 500 by total revenues for their respective fiscal years.