In 2024, Canada's business landscape is defined by remarkable growth and innovation across diverse industries. The Globe and Mail's ranking of the Top Growing Companies showcases a selection of standout firms that have excelled in their respective fields, demonstrating resilience, adaptability, and forward-thinking strategies. Among these, companies like Neo Financial, Neighbourly Pharmacy, League, and Miovision have not only experienced significant growth but are also paving the way for future success in the Canadian economy. These companies, representing sectors ranging from financial technology to healthcare and smart infrastructure, are reshaping the market and making a lasting impact both domestically and internationally. This article explores these top 10 companies, highlighting their rapid expansion and the factors driving their success in 2024.
1.Brookfield Corporation
Brookfield Corporation (BN) is a global alternative asset manager with a diversified portfolio across real estate, renewable power, infrastructure, and private equity. The company manages billions in assets on behalf of institutional and retail investors. Brookfield is known for its long-term approach to investing and has a significant presence in North America, Europe, and other global markets. Their operations focus on creating sustainable value through strategic investments in a wide range of sectors.
Revenue (2024): $86.00 billion
2.Alimentation Couche-Tard
Alimentation Couche-Tard (ATD.TO) is a Canadian multinational operator of convenience stores and gas stations. Headquartered in Laval, Quebec, the company operates approximately 16,700 locations across 31 countries and territories, including North America, Europe, and Asia.
The company's stores offer a range of products and services, such as snacks, beverages, fresh food, tobacco, fuel, and electric vehicle charging solutions. Alimentation Couche-Tard owns several well-known brands, including Couche-Tard, Circle K, and Ingo.
In August 2024, Alimentation Couche-Tard made a friendly offer to acquire Seven & I Holdings, the parent company of 7-Eleven, aiming to expand its global presence.
Revenue (2024): $74.17 billion
3.George Weston
George Weston Limited (WN.TO) is a Canadian public company founded in 1882 and headquartered in Toronto, Canada. It operates as a holding company with significant interests in food processing, retail, and real estate sectors. The company maintains a controlling 53% stake in Loblaw Companies Limited, Canada's largest food retailer, which operates over 2,500 stores under various banners, including Loblaw, No Frills, Maxi, and Shoppers Drug Mart. Additionally, George Weston holds a 62% interest in Choice Properties Real Estate Investment Trust, focusing on the ownership, management, and development of commercial and residential properties across Canada.
Revenue (2024): $44.78 billion
4.Loblaw Companies Limited
Loblaw Companies Limited (L.TO) is Canada's largest food retailer, operating a vast network of corporate and franchised supermarkets, pharmacies, and apparel stores across the country. Headquartered in Brampton, Ontario, Loblaw offers a diverse range of products and services, including grocery, pharmacy, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products.
The company's portfolio includes several well-known brands such as Loblaws, No Frills, Real Canadian Superstore, Provigo, Shoppers Drug Mart, and Joe Fresh. Loblaw is controlled by George Weston Limited, a holding company managed by the Weston family.
Revenue (2024): $44.35 billion
5.Royal Bank of Canada
Royal Bank of Canada (RY) is Canada's largest financial institution, offering a comprehensive range of services including personal and commercial banking, wealth management, insurance, and capital markets. Founded in 1864 in Halifax, Nova Scotia, RBC now serves over 17 million clients globally and employs more than 94,000 people. The bank operates in 36 countries, with its corporate headquarters in Toronto and head office in Montreal.
Revenue (2024): $43.20 billion
6.Cenovus Energy
Cenovus Energy Inc. (CVE) is a Canadian integrated energy company based in Calgary, Alberta, focusing on oil sands production in Alberta and refining operations across North America. The company specializes in steam-assisted gravity drainage (SAGD) technology for oil sands extraction and owns refining assets in Canada and the U.S. Cenovus also expanded through its 2021 acquisition of Husky Energy, enhancing its position in both upstream and downstream sectors.
Revenue (2024): $43.07 billion.
7.Magna International
Magna International Inc. (MGA) is a Canadian mobility technology company that supplies products and services to automotive manufacturers worldwide. Founded in 1957 and headquartered in Aurora, Ontario, Magna operates 447 facilities across 28 countries, employing over 170,000 people. The company's diverse offerings include automotive systems, assemblies, modules, and components, serving major automakers such as General Motors, Ford, Stellantis, BMW, Mercedes-Benz, Volkswagen, Toyota, Tesla, and Tata Motors.
Revenue (2024): $42.83 billion.
8.Power Financial Corporation
Power Financial Corporation (PWF-PS.TO) is a Canadian international management and holding company headquartered in Montreal, Quebec. It focuses on financial services and asset management businesses in Canada, the United States, and Europe. Power Financial holds significant interests in companies such as Great-West Lifeco and IGM Financial, which operate in insurance, retirement, wealth management, and investment management sectors.
Revenue (2024): $42.38 billion.
9.Toronto-Dominion Bank
Toronto-Dominion Bank (TD) is a leading Canadian financial institution offering a comprehensive range of banking and financial services across Canada and the United States.
Revenue (2024): Approximately $41.13 billion.
10.Suncor Energy
Suncor Energy Inc. (SU) is a Canadian integrated energy company specializing in oil sands development, production, and upgrading, as well as offshore oil production and petroleum refining. In the fiscal year ending December 31, 2024, Suncor reported revenues of approximately USD 39.86 billion.
Revenue (2024): Approximately $39.86 billion
