PAWTUCKET – Hasbro Inc. is getting closer to becoming a Fortune 500 company.
Since its founding in Providence in 1923, Hasbro has grown to become the world’s second-largest toymaker, behind only California’s Mattel Inc. But the company’s annual sales have never been quite high enough to make Fortune magazine’s yearly list of America’s largest companies by revenue.
That day appears to be getting closer, though. Hasbro jumped to No. 511 on this year’s Fortune 1,000, up from No. 552 in 2009 – and just 11 spots from cracking the big list.
Hasbro’s revenue rose to $4.07 billion last year, from $4.02 billion in 2008 and $3.84 billion in 2007. Its profit jumped to $374.9 million, bouncing back from $306.8 million in 2008 and $333 million in 2007.
Rhode Island has only two Fortune 500 companies this year: CVS Caremark Corp., at No. 18, and Textron Inc., at No. 220.
Three other Ocean State companies also made strong showings on the Fortune 1,000 this year.
FM Global vaulted 221 spots on the list to No. 545 this year, up from No. 766 in 2009. The Johnston-based insurer said it is the 17th longest-standing company on the Fortune 1,000.
United Natural Foods Inc., which last year moved its corporate headquarters from Connecticut to the American Locomotive Co. redevelopment in Providence, also rose on the list, moving to No. 569 from No. 634 in 2009.
And Amica Mutual Insurance Co. of Lincoln made the list for the first time in four years, placing at No. 955. The last time Amica made the Fortune 1,000 was 2006, when it was No. 913.
