Black Enterprise Magazine's Top Black Firms Gross $14.02 Billion

Jet, May 31, 1999

The 100 largest Black-owned industrial/service companies and 100 largest automobile dealers had a combined sales of more than $14.02 billion, representing a 6.3 percent growth in sales, and employed more than 70,000 people in 1998, according to Black Enterprise Magazine's annual report published in its June issue.

The Mel Fart Automotive Group, based in Oak Park, MI, made history as the first auto dealership ever to claim the title of the nation's largest Black-owned business, topping both the BE Industrial/Service 100 and BE Auto Dealer 100 lists with $596.6 million in gross sales.

Black Enterprise used to issue just one list of top Black-owned businesses until car dealerships came to dominate it. There are now several lists, including those for banks and insurance companies, but Mel Farr Automotive Group topped all in the rankings based on sales.

Mel Farr Sr., 54, is the chief executive officer of Mel Farr Automotive Group.

Farr, a former NFL star, entered the auto dealership business soon after he retired from the Detroit Lions in 1974, where he was an All-Pro running back.

Farr operates 15 auto dealerships in the Detroit area, which is the largest chain of Black-owned auto dealerships in the country.

Earl G. Graves, publisher and CEO of Black Enterprise Magazine, said, "In an environment of vigorous growth and opportunity, the BE 100s companies have aggressively pursued financial prosperity, keeping pace with the overall economy. These businesses, through acquisition, technology and innovation, have redefined the business landscape for the new millennium."

Topping the magazine's list of the nation's top Black firms is Mel Farr Automotive Group, of Oak Park, MI, with $596.6 million in sales.

Philadelphia Coca-Cola Bottling Co. Inc. of Philadelphia reported $389 million in revenue and was ranked No. 2 on the list.

Johnson Publishing Company in Chicago, which publishes EBONY and JET magazines, ranked third with $372 million in revenue.

TLC Beatrice International Holdings of Inc., a New York-based food company, ranked fourth with $322 million in revenue.

TOP BLACK FIRMS AND THEIR 1998 SALES:

1. Mel Farr Automotive Group of Oak Park, MI--Auto dealerships: Ford, Lincoln-Mercury, Toyota, Mazda, Suzuki, Kia, VW, Hyundai, Chevrolet--$596.6 million

2. Philadelphia Coca-Cola Bottling Co. Inc. of Philadelphia--soft drink bottler--$389 million

3. Johnson Publishing Company, Inc. of Chicago--publishing, broadcasting, TV production, cosmetics and hair care--$372 million

4. TLC Beatrice International Holdings Inc. of New York--manufacturing and distribution of grocery products--$322 million

5. Active Transportation of Louisville, KY--transportation services, hauling vehicles to dealers--$250 million

6. The Bing Group of Detroit--steel processing, steel stamping, full-seat assembly--$232 million

7. World Wide Technology Inc. of St. Louis--distribution of information technology products and services--$201 million

8. FUCI Metals USA Inc. of Northbrook, IL--raw materials importer--$200 million

9. Granite Broadcasting Corp. of New York--selling of commercial air-time--$194 million

10. H. J. Russell & Co. of Atlanta--construction, property management, airport concessions, real estate development--$184 million