Grant Thornton Expands Business in Brazil

Chicago-based Grant Thornton (FY12 net revenue of $1.25 billion) is expanding its business in Brazil, including buying the outsourcing arm of KPMG in Brazil, which has 70 staff and revenues of $5.5 million, Economia, a London-based business magazine, reported. The deal makes GT is the third-largest provider in the Brazil outsourcing market.

The firm has also merged with former PKF firm Directa Auditores, which adds 120 staff plus the firm’s list of middle-market clients. The two deals combined make GT the fifth largest accounting firm in the Brazilian market.

“We welcome both firms into the Grant Thornton family, joining more than 38,500 people in over 120 countries working together to help dynamic organizations unlock their potential for growth,” said Grant Thornton global CEO Ed Nusbaum.

Last year, Grant Thornton expanded across a number of international markets including the Netherlands, Japan, Paraguay, Bangladesh, China and Hong Kong.