The Expansion of the ALL Group - América Latina Logística S.A.

This dissertation aims to analyze the growth trajectory of the largest independent logistics services company in South America: ALL - América Latina Logística. Based on the main works on the expansion of companies, with emphasis on Penrose's theory of the growth of the firm, this work seeks to discuss the history of the Brazilian railroad sector and the development of the current transportation system in which ALL is inserted. The main stages of the group's growth are detailed, as well as the strategies that enabled the company to expand its revenue by an average of 23% a year in its first 16 years of existence, being highly profitable and efficient, with an operating margin growing at an annual rate of close to 42%. Having invested around six billion reais in this time, creating thousands of jobs along the length and breadth of its operations and generating income, wealth and development of the Brazilian economy, ALL has progressed from an incipient rail transportation concessionaire in southern Brazil to the largest independent logistics services company in South America.