World's 20 Most Expensive Fast Food

List of fast food restaurants

popular fast food everyday, without think fast healthy food

In these 20 cities, hamburger lovers pay most for their fix.

Dublin is home to Trinity College, the Guinness Storehouse and St. Stephens Green. Here, you'll also find the world's most expensive fast food. In U.S. dollars, a hamburger meal at a medium-priced establishment, as defined by consulting firm Mercer, costs a whopping $9.16.

That figure--the only to exceed $8.00 on a list of 20 geographically diverse cities selected for different cost comparisons--is $3.00 greater than the price of a hamburger meal in New York, where it's $5.99. But travelers in Europe will not find significant relief in many other cities on the continent, where the price of fast food meal hovers within the $7.00 range: In Amsterdam you'll pay $7.88, in Paris $7.43, and in Athens $6.66. For less pricey eats, grab a hamburger in Prague for $4.91, in Warsaw for $3.86, or in Johannesburg, which sells the cheapest burgers on the list at $2.50.

Behind The Numbers

In devising a comparative study of the cost of a fast food hamburger meal across different cities, included in this year's Worldwide Cost of Living Survey 2009, Mercer analysts collected data from venues most frequented by expatriates in a given city. Expenses incurred from consuming food outside of the home are assigned a weight of 9.5% in the cost of living index.

Conducted twice a year by field researchers who report prices at the relevant retail outlets, Mercer's annual cost of living survey assesses differences in expenses and housing in 143 cities across six continents. The study compares the costs, in U.S. dollars, of over 200 items in each location, including housing, transportation, household goods, food and clothing. The analysis of this basket of goods and services--indicative of executive spending patterns--is designed to yield data that would help multinational companies and governmental organizations determine appropriate compensation allowances for employees sent out of the country.

"As a direct impact of the economic downturn over the last year, we have observed significant fluctuations in most of the world's currencies, which have had a profound impact on this year's ranking," said Nathalie Constantin-Métral, a senior researcher at Mercer's office in Geneva, Switzerland. The period between March 2008 and March 2009 displayed a greater degree of currency fluctuation against U.S. dollars than in the previous year, Constantin-Métral said.

The ranking of the most expensive cities in the world has shifted to reflect these fluctuations. Moscow this year fell to No. 3 from No. 1 on the list; Tokyo--which had come in second last year--took its place as the most expensive city for expatriates to live. Another Japanese city rose to the top: Osaka moved up nine spots to claim the title of second most expensive city.

If that's not enough to steer the cost-conscious from Japan, heres more. Tokyo, for example, may not have the most expensive fast food hamburger meals at $7.04, but the city does call for the highest price when it comes to 35.3 oz. of spaghetti pasta: $9.06. Tokyo also has the second-highest cost for a liter of whole milk, at $2.58. Dublin, home to the most expensive hamburger meal, offers spaghetti at a lower cost of $3.56.

Our data come from Mercer's Worldwide Cost of Living 2009 survey. In devising a comparative study of the cost of a fast-food hamburger meal across different cities, Mercer analysts collected data from places most frequented by expatriates in a given city. Expenses incurred from consuming food outside of the home are assigned a weight of 9.5% in the cost of living index.

Mercer's annual survey has been designed to cater to the multinational companies and governments that use the study's results to help determine appropriate compensation packages for employees sent abroad. One of the world's most comprehensive cost of living surveys, Mercer's study takes 143 cities across six continents and compares the costs of over 200 items in each location. The goods and services under inspection--including housing, transportation, food, leisure, and household supplies--are representative of executive spending patterns, and the selection of the cities reflects the request for corresponding data from the groups that use the study's findings.



1. Dublin

$9.16





2. Amsterdam

$7.88





4. Paris $7.43





4. Brussels

$7.43





5. Rome

$7.30





6. Madrid

$7.05





8. Tokyo

$7.04





8. Berlin

$7.04





9. Athens

$6.66





10. Vancouver

$6.07





11. New York

$5.99





12. London

$5.62





13. Buenos Aires

$5.57





14. Zagreb

$5.52





15. Prague

$4.91





16. Sydney

$4.19





17. Moscow

$3.95





18. Warsaw

$3.86





19. Beijing

$3.44





20. Johannesburg

$2.50

World's Best Companies 2009

The 40 names making the list, compiled by A.T. Kearney for BusinessWeek, are thriving in the recession and preparing for beyond

Any athlete will tell you that the time to train is in dismal weather, not on perfect, sun-drenched days. If you want to excel at the best of times, it seems, you need to be prepared for the worst.

Companies are little different. So as the economic outlook brightens, those that have worked hard to survive the tough times of the past year are best prepared to seize new opportunities. It is these enterprises that have risen to the top of the World's Best Companies/Global Top 40 list, compiled for BusinessWeek by management consulting firm A.T. Kearney.

What are some traits of the World's Best Companies? A commitment to innovation, diversified portfolios, aggressive expansion, strong leadership, and a clear vision for the future. "In an environment of continuous disruptive change, companies that have rigorous strategic planning initiatives that allow them to see over the horizon…are far more likely to win than those that make it up as they go along," says Paul Laudicina, chairman of A.T. Kearney.

To create the list, A.T. Kearney examined the 2,500 largest publicly listed companies in the world. Kearney's team singled out those with a minimum of $10 billion in sales in 2008, at least 25% of which came from outside the company's home region. It then ranked the companies on their sales growth and value creation—the rise of market capitalization after subtracting any increase in capital—over the past five years. This year, the list expanded to 40 companies from the 25 Kearney ranked in the past.

Thriving Industries

The top 40 come from 18 countries and industries ranging from chemicals and contracting to software and shipbuilding. But three groups stand out. There are six technology and telecommunications enterprises that have tapped into continuing demand for mobile-phone service and new digital hardware and services. The eight heavy-industry and engineering outfits performed well as infrastructure spending started to bounce back. Finally, companies in sectors tied to the commodities boom of recent years have in many cases continued to prosper, though their ranks have been thinned considerably.

Japanese electronics maker Nintendo (7974.T) claims the No. 1 spot this year. Its sales have risen 36% annually over the past five years, while its value growth averaged 38%. Despite the hard times of the past year, Nintendo's continued emphasis on innovation has helped the company develop must-haves such as the DS handheld game machine and the Wii console, which outsold rival offerings from Sony (SNE) and Microsoft (MSFT).

Nintendo's strategy is emblematic of the tech companies on the list. Like Nintendo, American technology giants Google (GOOG) (No. 2), Apple (AAPL) (No. 3), and Amazon.com (AMZN) (No. 17) have continued to invest heavily in innovation, commanding large market share with new products even as consumer spending and confidence have declined sharply. Telecom companies MTN (No. 7) and América Móvil (AMX) (No. 18) have profited handsomely by expanding into developing markets in Africa and Latin America.

Though they seem to lie at the other end of the business spectrum, engineering companies have enjoyed a similarly strong run. Initial dents following the recession-driven building bust have been patched up by government-financed infrastructure projects worldwide. Komatsu (6301.T) (No. 25) has consolidated its focus on construction and mining equipment. Doosan Heavy Industries (No. 4) has diversified by adding desalination plants to its business of building power stations for utilities. Similarly, Hyundai Heavy Industries (No. 5) has branched out beyond shipbuilding into construction machinery and solar power.

Fewer Commodities Companies

Commodities plays have fared less well. In 2008 three-fifths of the World's Best Companies were in energy and metals due to high commodities prices. This year, only a quarter are. Last year's leader, steel giant ArcelorMittal (MT), and four Russian energy, metals, and mining companies have vanished from the list. That said, 11 commodities companies remain. Australia's BHP Billiton (BHP), for example, the world's largest diversified miner, brought in more than $63 billion in revenue in 2008 and gained six spots, to No. 10, this year.

It's not all about industry. Charismatic chiefs—sometimes bordering on autocratic—can also be key to earning a place on the Global Top 40. Apple, for instance, has long prospered under the steady hand of Steve Jobs. With Jobs now back in the driver's seat after taking a leave of absence due to illness this year, expect Apple to continue to thrive. At Spanish textile and retail giant Inditex (No. 9), the owner of Zara stores, founder Amancio Ortega Gaona continues to implement his vision of fast fashion.

In Mexico, billionaire Carlos Slim has made América Móvil into the world's fourth largest cellular carrier, with more than 190 million subscribers. Klaus-Michael Kuehne has headed Kuehne + Nagel (KNIN.VX) (No. 23) for four decades and built it into a leader in global logistics services, helping preserve profits through targeted cost cuts as trade volumes plummeted over the past year. "Driven by an idea, [these leaders] have taken time building their companies…with the patience required to see their efforts come to fruition," says Norbert Jorek, partner at A.T. Kearney and principle author of the study.

From Exxon to World Fuel

Size, meanwhile, doesn't matter as much as some might think. Only four companies with market caps of greater than $100 billion made the top 40: BHP Billiton, French utility GDF Suez (GSZ.PA) (No. 6), Spanish phone carrier Telefónica (TEF) (No. 32), and oil giant ExxonMobil (XOM) (No. 38). Indeed, some of the most successful enterprises are relatively small. Miami-based World Fuel Services (INT), which markets marine, aviation, and land fuel products in 23 countries, is the smallest on the list with a market cap of $1.1 billion, but comes in at No. 13. German construction company Bilfinger Berger (GBFG.DE) (No. 33) had a market cap of $1.7 billion but has won impressive contracts such as the world's longest rail tunnel, a 30-mile-plus link under the Alps straddling the French-Italian border.

In the developing world, South Africa put in a strong showing with three companies in the Global Top 40. MTN, one of the pioneers in bringing mobile service to emerging markets, has proven that poor countries can be lucrative markets. Nigeria is its largest with some 28 million subscribers, and the company continues to expand in the Middle East. "Driven by a large entrepreneurial spirit, MTN had the will and appetite to take on that risk and the ability to turn risk into success," says Dobek Pater, partner at Africa Analysis, a consulting firm for tech companies in developing markets. And conglomerate Bidvest Group (No. 37) has placed an emphasis on food service but also has holdings in logistics and retailing. Both are examples of emerging-market companies poised to become global players: Bidvest has made acquisitions around the world, including in Australia and Central Europe, and MTN is currently in talks with India's Bharti Airtel (BRTI.BO) over a $24 billion merger.

This year's ranking of the World's Best Companies shows that even when stock markets are down, smart companies can be on the way up. A.T. Kearney Chairman Laudicina sees two important factors that are most likely to drive global economic performance in coming years: leveraging technology and innovation to enhance productivity, and demographic shifts such as graying populations. "Those companies who understand them best—and I think you see many of them on this list," will prosper, he says. "Those that don't are likely to be outside the bakery window looking in."


Global Champions Top 40

By Esmé E. Deprez, with A.T. Kearney & BusinessWeek staff

The past 12 months will be remembered by many investors and executives as some of the most dismal. Yet despite all the doom and gloom, some companies have continued to prosper—such as those on the World's Best Companies/Global Top 40 list compiled for BusinessWeek by management consulting firm A.T. Kearney. (The consultancy expanded its annual Global Champions ranking from 25 companies.) Companies from around the world were ranked using sales growth and value creation—the rise of market capitalization after subtracting any increase in capital—over the past five years. The top companies, with approximately $700 billion in sales and a collective market cap of $1 trillion, have generated sales growth of 27% per year for the past five years. Meanwhile, companies in the S&P 500 have generated average annual sales growth of 7% over the past five years.

** CAGR: Compound Annual Growth Rate



No. 1 Nintendo



2008 Annual Sales (millions): $16,802
Sales CAGR (2004-2008): 35.7%
Value CAGR (2004-2008): 38.1%

The leader in the video game industry, Nintendo has sold millions of gaming systems around the world, including the popular Wii system, which has proven to be a true disrupter of the entertainment industry. With visionary leadership and a three-tiered product development process that brings together top management, development staff, and marketing and administrative teams, the Japanese game maker been able to create new hardware without sticking to conventional notions in the video game industry.



No. 2 Google



2008 Annual Sales (millions): $21,796
Sales CAGR (2004-2008): 61.7%
Value CAGR (2004-2008): 8.6%

Google first found success with its search engine. Now the towering leader in search, the Mountain View (Calif.) company has aggressively expanded its offerings to e-mail and instant messaging, Web browsing, social networking, and most recently an operating system.



No. 3 Apple



2008 Annual Sales (millions): $32,479
Sales CAGR (2004-2008): 40.7%
Value CAGR (2004-2008): 24.2%

In the world of computers and consumer electronics, there is no company more synonymous with innovation than Apple. Credit the stewardship of CEO Steve Jobs for reviving the company's Mac computer line, creating the now iconic line of iPod digital music players, and pushing into the crowded cell-phone market with the popular iPhone. Now rivals are scrambling to catch another Apple innovation, the iPhone App Store.



No. 4 Doosan Heavy Industries



2008 Annual Sales (millions): $15,269
Sales CAGR (2004-2008): 34.2%
Value CAGR (2004-2008): 25.8%

Doosan Heavy Industries & Construction is a flagship company of Doosan Group, one of the major family-controlled conglomerates in Korea called chaebol. Its primary focus has been the construction of power plants, but recently it has expanded to nuclear power plants and desalination plants, which has served Doosan particularly well during the economic crisis. Its growth has been fueled by the 2005 purchase of a controlling stake in Daewoo Heavy Industries & Machinery, a construction equipment maker that was renamed Doosan Infracore. The company is feeling a financial pinch because it relied heavily on borrowing for the $4.9 billion takeover of Bobcat in 2007, the largest acquisition of a foreign company in Korea's corporate history. Pictured above: Kyle Busch of the Doosan Infracore Toyota Team celebrates after winning the Nascar Nationwide Series race at the Hermanos Rodriguez speedway in Mexico City in 2008.



No. 5 Hyundai Heavy Industries



2008 Annual Sales (millions): $21,820
Sales CAGR (2004-2008): 17.4%
Value CAGR (2004-2008): 42.6%

Hyundai Heavy Industries is the world's largest shipbuilding company. Its sales soared in recent years thanks to a shipbuilding boom, which lasted until the global economy sank into crisis last year. Hyundai Heavy, the biggest beneficiary of the shipbuilding boom, has diversified its business to offshore structures, marine engines, large-scale transformers and generators, construction equipment, and power plants. Last year, shipbuilding accounted for only 45% of the Korean company's revenues.



No. 6 GDF Suez



2008 Annual Sales (millions): $94,420
Sales CAGR (2004-2008): 39.9%
Value CAGR (2004-2008): 16.7%

Created by the 2008 tieup of Gaz de France and French utility group Suez, GDF Suez is now one of Europe's biggest energy groups. The company has spun off non-core water and waste-management activities. Excluding effects of the merger, sales growth over the past five years has ranged from 4% to 15% annually.



No. 7 MTN



2008 Annual Sales (millions): $11,090
Sales CAGR (2004-2008): 30.8%
Value CAGR (2004-2008): 17.6%

South African mobile service provider MTN took a chance on the continent and proved that bringing mobile service to emerging markets such as Nigeria, Syria, Iran, Ghana, and Cameroon, among other countries, could have dramatic economic effects.



No. 8 Monsanto



2008 Annual Sales (millions): $11,365
Sales CAGR (2004-2008): 20.1%
Value CAGR (2004-2008): 23.7%

Monsanto is a leader in the development of genetically engineered seeds and growth hormones. The U.S. company uses continuous R&D to keep successful products in its pipeline. Pictured are Monsanto's "low-lin" soybeans, which produce a soy oil that could help reduce trans fats in many foods.



No. 9 Inditex



2008 Annual Sales (millions): $13,969
Sales CAGR (2004-2008): 25.0%
Value CAGR (2004-2008): 18.6%

Inditex is a multinational clothing retailer with eight brands to serve multiple customer segments. The company has outperformed its peers by having a continuous cycle of textile design and marketing, as well as efficient distribution of new clothing lines via a tightly integrated supply chain. The Spanish retailer has 4,430 stores across a variety of outlets, the biggest of which is Zara. It continues to expand—most recently in Asia—while other retailers retrench.



No. 10 BHP Billiton



2008 Annual Sales (millions): $63,140
Sales CAGR (2004-2008): 29.5%
Value CAGR (2004-2008): 13.5%

BHP Billiton is the world's largest diversified mining company, with exploration and production projects spanning the globe. The Australian company's focus on quality, low cost, and sustainable development has helped it weather the global economic crisis. In the photo above, coal trucks pass each other at BHP Billiton's Mt. Arthur coal mine in Muswellbrook, Australia.



No. 11 Reliance Industries



2008 Annual Sales (millions): $34,055
Sales CAGR (2004-2008): 30.3%
Value CAGR (2004-2008): 10.3%

Indian chemicals manufacturer Reliance Industries has found success by vertically integrating its supply chain and diversifying its portfolio. Reliance Chairman Mukesh D. Ambani (pictured above) also is relying on petrochemicals and gas production to help drive future growth.



No. 12 Jacobs Engineering



2008 Annual Sales (millions): $11,252
Sales CAGR (2004-2008): 25.1%
Value CAGR (2004-2008): 14.6%

U.S. contractor Jacobs Engineering provides engineering and technical services for government and commercial clients around the world.



No. 13 World Fuel Services



2008 Annual Sales (millions): $18,509
Sales CAGR (2004-2008): 34.5%
Value CAGR (2004-2008): 4.0%

World Fuel Services markets fuel products and services for the aviation industry. The U.S. company also sells marine and land fuel products and related services.



No. 14 Fluor



2008 Annual Sales (millions): $22,326
Sales CAGR (2004-2008): 24.2%
Value CAGR (2004-2008): 10.3%

Giant engineering contractor Fluor offers engineering, procurement, construction management, and project management services worldwide. The U.S. company's broad service portfolio and global reach have helped fuel its growth. Pictured above: Fluor's corporate headquarters.



No. 15 ABB



2008 Annual Sales (millions): $35,262
Sales CAGR (2004-2008): 11.8%
Value CAGR (2004-2008): 21.1%

Switzerland's ABB provides power and automation technologies to utility and industry customers worldwide.



No. 16 CNOOC



2008 Annual Sales (millions): $18,273
Sales CAGR (2004-2008): 28.6%
Value CAGR (2004-2008): 3.2%

China's CNOOC deals in the exploration, development, production, and sale of crude oil, natural gas, and other petroleum products. It has experienced strong growth and has been active in mergers and acquisitions. CNOOC Chairman Fu Chengyu is pictured during a speech to the 10th Asian-Europe Business Forum in Helsinki.



No. 17 Amazon.com



2008 Annual Sales (millions): $19,166
Sales CAGR (2004-2008): 29.0%
Value CAGR (2004-2008): 1.2%

Based in Seattle, Amazon.com is a global e-commerce leader. One key to the company's growth has been its commitment to process improvements. More recently, however, Amazon has also found success with its e-book reader, the Kindle.



No. 18 America Movil



2008 Annual Sales (millions): $24,960
Sales CAGR (2004-2008): 19.9%
Value CAGR (2004-2008): 10.3%

Mexico's America Movil is the fourth largest mobile network operator. It has thrived thanks to its expansion across Latin America.



No. 19 Occidental Petroleum



2008 Annual Sales (millions): $24,217
Sales CAGR (2004-2008): 20.8%
Value CAGR (2004-2008): 8.6%

Occidental Petroleum is the fourth largest U.S. oil and gas company. A pipeline of projects has helped to fuel organic growth. The Dolphin Gas Project pipeline (pictured above) runs from Al Ain to Fujairah on the eastern coast of the United Arab Emirates.



No. 20 Teva Pharmaceutical



2008 Annual Sales (millions): $10,458
Sales CAGR (2004-2008): 20.4%
Value CAGR (2004-2008): 8.6%

Based in Israel, Teva is the largest generic pharmaceuticals manufacturer. The company produces generic drugs faster and in greater quantities than its competition, and it's also the only generic drugmaker with its own branded drug, Copaxone, for treatment of multiple sclerosis. More than 80% of its sales (over $11 billion in 2008) come from the U.S. and Europe. The generics market worldwide is growing much faster than the prescription business as governments and insurers push for the use of less expensive generics. Pictured above is Teva Chairman Eli Hurvitz.



No. 21 Mapfre



2008 Annual Sales (millions): $19,827
Sales CAGR (2004-2008): 24.3%
Value CAGR (2004-2008): 4.2%

Mapfre has a broad array of offerings covering nearly all forms of commercial and personal insurance. The Spanish company's growth has been fueled by international expansion.



No. 22 Petrobras



2008 Annual Sales (millions): $92,246
Sales CAGR (2004-2008): 22.7%
Value CAGR (2004-2008): 5.5%

Petrobras is the largest company headquartered in the Southern Hemisphere, with operations involved in the exploration and production of oil and gas properties. It also has refining and distribution operations, as well as electricity generation, transmission, and distribution units, among other energy activities. The company's growth has been fueled by booming domestic demand, technology exports, and M&A activities. Pictured above is the view of the Petrobras P-51 semi-submersible offshore oil platform under construction at the Brasfelf shipyard south of Rio de Janeiro.



No. 23 Kühne & Nagel



2008 Annual Sales (millions): $16.904
Sales CAGR (2004-2008): 20.5%
Value CAGR (2004-2008): 7.7%

Swiss logistics company Kühne & Nagel benefited from the boom in international trade during the past decade. It was hit by the recent slump when trade volumes plummeted, but profit has been pretty stable because of cost-cutting. The company has used the downturn to build market share. Pictured above is a sea freight vessel.



No. 24 Sasol



2008 Annual Sales (millions): $16,599
Sales CAGR (2004-2008): 14.4%
Value CAGR (2004-2008): 10.8%

Sasol is South Africa's largest chemical company, specializing in coal-to-liquid and gas-to-liquid technologies. The company has been able to commercialize these technologies and has built plants in growth markets such as Qatar, Nigeria, and Uzbekistan.



No. 25 Komatsu



2008 Annual Sales (millions): $22,535
Sales CAGR (2004-2008): 18.3%
Value CAGR (2004-2008): 4.6%

Komatsu is the second largest construction equipment manufacturer. Despite the challenges the construction industry has faced recently, the Japanese company has continued to grow thanks to emerging markets such as China.



No. 26 Tenaris



2008 Annual Sales (millions): $11,476
Sales CAGR (2004-2008): 26.4%
Value CAGR (2004-2008): 0.6%

Tenaris supplies pipes and services to companies around the world in the oil and gas sector. The Luxembourg company also serves engineering companies constructing oil and gas gathering, transportation, and processing facilities.



No. 27 Li & Fung



2008 Annual Sales (millions): $14,286
Sales CAGR (2004-2008): 23.9%
Value CAGR (2004-2008): 1.2%

Li & Fung is a global export trading company. The Hong Kong-based company operates one of the most agile and efficient supply chains in the world.



No. 28 Schlumberger



2008 Annual Sales (millions): $27,163
Sales CAGR (2004-2008): 24.0%
Value CAGR (2004-2008): 0.5%

Schlumberger is a global oilfield and information services company. The U.S. company has succeeded by entering new markets and transferring leading-edge technology and knowledge, while maintaining the local culture.



No. 29 Saipem



2008 Annual Sales (millions): $13,423
Sales CAGR (2004-2008): 23.5%
Value CAGR (2004-2008): 0.1%

Saipem provides engineering and project management services to design oil and gas pipelines around the world. The Italian contractor can credit its success to focusing on technologically challenging projects and activities in remote areas. Above is a photo of Saipem's Scarabeo 7 semi-submersible drilling rig docked in Cape Town, South Africa.



No. 30 Apache



2008 Annual Sales (millions): $12,390
Sales CAGR (2004-2008): 23.4%
Value CAGR (2004-2008): 0.1%

Apache's business is the exploration, development, and production of natural gas, crude oil, and natural gas liquids. One key to the U.S. company's success has been a diversified energy portfolio. The picture above is Apache's Hatton natural gas field in southwestern Saskatchewan.



No. 31 Oracle



2008 Annual Sales (millions): $22,430
Sales CAGR (2004-2008): 22.0%
Value CAGR (2004-2008): 1.2%

Thanks to a string of acquisitions and an integrated suite of software applications, Silicon Valley-based Oracle is world's largest business software company.



No. 32 Telefónica



2008 Annual Sales (millions): $80,550
Sales CAGR (2004-2008): 18.2%
Value CAGR (2004-2008): 2.8%

Telefónica is the leading telecommunications operator in the Spanish- and Portuguese-speaking world. The Madrid company has grown thanks to an exceptionally broad diversification of products and services.



No. 33 Bilfinger & Berger



2008 Annual Sales (millions): $13,563
Sales CAGR (2004-2008): 16.4%
Value CAGR (2004-2008): 3.5%

Bilfinger & Berger long ago escaped the anemic German construction market to build and manage large projects all over the world. The company has lately benefited from stimulus spending by governments.



No. 34 Anheuser-Busch InBev



2008 Annual Sales (millions): $22,383
Sales CAGR (2004-2008): 17.7%
Value CAGR (2004-2008): 2.0%

Anheuser-Busch InBev, based in Leuven, Belgium, is the world's largest brewer, with a portfolio of approximately 300 brands that include Budweiser, Stella Artois, Beck's, Michelob, and Corona. The acquisition of Anheuser-Busch by Belgian brewer InBev established this global colossus, but an intense focus on brand marketing is a key to its continued success.



No. 35 ConocoPhillips



2008 Annual Sales (millions): $225,424
Sales CAGR (2004-2008): 17.4%
Value CAGR (2004-2008): 1.5%

ConocoPhillips is an integrated energy company, with units in exploration and refining, as well as petrochemical and platics production and even emerging energy technologies. The Houston company has been active in M&A to build reserves and increase production.



No. 36 Praxair



2008 Annual Sales (millions): $10,796
Sales CAGR (2004-2008): 13.1%
Value CAGR (2004-2008): 5.6%

A global provider of industrial gases such as oxygen, nitrogen, helium, and hydrogen—the largest in North and South America—U.S.-based Praxair has thrived thanks to superior distribution and strong M&A activity.



No. 37 Bidvest



2008 Annual Sales (millions): $14,113
Sales CAGR (2004-2008): 14.4%
Value CAGR (2004-2008): 4.0%

Bidvest is a conglomerate with emphasis on food service. The South African company, which has grown thanks to an entrepreneurial spirit and decentralized structure, also has holdings in logistics and retailing. Bidvest has made acquisitions around the world, including Australia and Central Europe, to become a global player.



No. 38 ExxonMobil



2008 Annual Sales (millions): $425,071
Sales CAGR (2004-2008): 12.6%
Value CAGR (2004-2008): 4.1%

ExxonMobil is the largest global integrated energy company. The U.S. company's key to success is its global presence, disciplined investment decisions, and a focus on the long term.



No. 39 Fresenius



2008 Annual Sales (millions): $17,148
Sales CAGR (2004-2008): 14.8%
Value CAGR (2004-2008): 1.4%

Fresenius is the world's largest provider of kidney dialysis products and services. The German company is seeing demand grow for its dialysis products in emerging markets as more people are able to afford the treatments.



No. 40 Kao



2008 Annual Sales (millions): $13,247
Sales CAGR (2004-2008): 11.16%
Value CAGR (2004-2008): 4.04%

The Japanese manufacturer of personal care and cleaning products and specialty chemicals has succeeded by focusing on premium cosmetics and personal/household care products. Kao, with 30% of its revenue from international sales, has operations in Asia, Australia, North America, Europe, and South Africa.