Winning in Atlanta: 10 Largest Black-Owned Companies Totaling $1.2B in Revenue
“Winning In Atlanta” is Atlanta Black Star’s weekly focus on Black professionals, business leaders and other persons of gravity who are making a positive contribution to the global global African economic renaissance.
The following are the top-grossing metropolitan Atlanta-based Black-owned businesses, according toBlack Enterprise magazine’s annual report. The revenue listed was recorded for the 2011 calendar year. The featured companies are at least 51 percent Black-owned, or Blacks own at least 51 percent of controlling shares if the firm is publicly traded.
H.J. Russell & Co., Atlanta; Revenue $248 million
H.J. Russell & Company, founded in 1952 by Herman J. Russell, is one of the largest minority-owned real estate firms in the United States. As a multifaceted organization, they develop, design and build, renovate and manage projects in a wide variety of markets.
Wade Ford, Smyrna; Revenue $285 million
Wade Ford is Atlanta’s oldest and most awarded car dealership, serving North Georgia since 1933. Steven R. Ewing, who in 2002 became its president and CEO, has owned and operated a series of Ford and Lincoln-Mercury dealerships in his home state of New Jersey since 1989.
The Gourmet Cos., Atlanta; Revenue $179 million
Gourmet Services Inc. is a food-service industry leader, serving diverse clientele including school districts, colleges and universities, and corporations. Nathaniel R. Goldston, III, founded Gourmet Services in 1975. He secured food service contracts on six college campuses, generating $2.3 million in the company’s first year of operation.
Gregory Baranco and his wife Juanita, along with former U.N. Ambassador Andrew Young, opened Mercedes Benz of Buckhead in Atlanta in June 2003. Gregory Baranco is the chief executive officer and Juanita Baranco is the chief operations officer. The company has a staff of 164 people.
Located in McDonough, Ga., Legacy Ford is one of the premier car dealerships in the area. Legacy Automotive Group owns Legacy Ford in McDonough and Legacy Toyota in Union City. Emanuel Jones, a Georgia state senator, owns the firm that was founded in 1982.
Jackmont Hospitality is an award-winning, minority-owned food service management company and one of the fastest growing T.G.I. Friday’s® franchisees. The company owns and operates restaurants throughout the country on behalf of Atlanta Restaurant Partners (ARP). They also oversee on-site food service management contracts throughout the United States.
ARP was formed in 2003 after the death of Jackmont Hospitality’s co-founder and principal, Maynard H. Jackson, Jr., the city’s first African-American mayor.
David Karangu is the owner of Ivory Chevrolet of Union City. Karangu left early retirement to purchase an existing Chevrolet dealership in Union City, renaming it Ivory Chevrolet. Over his career, Karangu has owned several other dealerships including Mercedes-Benz of Augusta and BMW of Columbia in South Carolina.
C. David Moody, Jr., 55, is founder and president of C. D. Moody Construction Company, Inc. A leader in the construction industry, C.D. Moody Construction has been delivering quality projects since 1988. For more than 20 years Moody has led contracting and construction management projects in Georgia and throughout the Southeast, including renovation of some of Atlanta’s best-known landmarks, such as Hartsfield-Jackson International Airport.
The company is recognized as one of Atlanta’s top 25 commercial contractors and ranked as one of its top 100 private companies.
Malcolm A. Cunningham is the chief executive and owner of Malcolm Cunningham Ford, a company considered one of the premier car dealerships in the city.
Harvey L. Jackson is the owner of Jackson Acura in Roswell, Ga. The company has 64 employees and serves the Roswell-north Atlanta area