May 2026
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Largest Paper & Forest Products Public Companies in Brazil
Benchmark revenue and EBITDA valuation multiples for public comps like
Suzano, Klabin, Suzano Holding, Melhoramentos and Embpar Participacoes.
 | Suzano SA produces and sells pulp and a variety of paper products. The company organizes itself into two segments based on product type: Pulp and Paper. The Pulp segment generates the majority of revenue. The firm's product portfolio includes printing and writing paper, paperboard, diapers, and sanitary napkins. The company owns forest land and plants in Brazil, where it harvests timber and turns the timber into pulp and paper in its plants. | $8 | -16% | $10B | $25B | 2.5x | 3.4x | ||
| Klabin SA operates in various segments of the pulp and paper industry, supplying domestic and foreign markets with wood, bleached pulp, packaging paper, paper sacks, and corrugated cardboard boxes. The firm organizes itself into four segments based on product type: Forestry, Paper, Packaging, and Pulp. The Forestry segment involves operations related to planting and growing pine and eucalyptus trees and selling timber to third parties. The Paper segment mainly involves the production of cardboard, Kraftliner, and recycled paper rolls, and their sale. The Packaging segment, which derives maximum revenue, involves the production and sale of corrugated cardboard boxes, cardboard, and industrial bags. The Pulp segment includes the production and sale of short, long, and fluff fiber pulp. | $4 | -- | $5B | $12B | 2.8x | 5.6x | ||
| Suzano Holding SA produces and markets pulp and paper in Brazil and Globally. The company is structured in two segments: Market Pulp (paper grade and fluff), Paper (coated and uncoated printing and writing paper) and Paperboard. The majority of the revenue is generated from the Pulp segment. | $0 | -- | $514M | $1B | 0.1x | 0.2x | ||
| CIA Melhoramentos de Sao Paulo primarily engages in publishing business in Brazil. It offers paperback and digital books primarily for children, teenagers, and schools; cooking books; and customized books for companies. The company also engages in developing and maintaining forests; conducting reforestation activities of pines and eucalyptus; and urban, industrial, or infrastructure projects of real estate development. In addition, it is involved in the production of fibers, such as thermo ground wood, Bleached Thermo Ground Wood and Neolux Fibers, used as raw material for the production of paperboard, tissue and special papers. | $9 | -- | $59M | $94M | 2.7x | 42.8x | ||
| Embpar Participacoes SA formerly Battistella Administracao e Participacoes SA engages in the production of sawn lumber of Pinus taeda and Pinus elliottii, kiln-dried in greenhouses (KD). Its product includes pine limber, wood chips, sawdust, pine timber. | $0 | -60% | $6M | $5M | 10.3x | (16.2x) | ||
| Median | $4 | -38% | $514M | $1B | 2.7x | 3.4x |
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