Canadian dairy giant Saputo leap-frogged US firm Dean Foods to place eighth in the Rabobank Dairy Top 20.
The Quebec-based dairy, which was ranked ninth based on its 2012 results, reported dairy sales revenue of US$8.8bn (€6.6bn) in 2013.
Rabobank attributed Saputo's increase in sales "in part...to several recent acquisitions."
In January 2013, Saputo completed its acquisition of US business Morningstar from Dean Foods, and shortly after pulled the plug on its under-performing European operations.
It opened bidding for Australia dairy Warrnambool Cheese and Butter (WCB) in September 2013, and after a drawn out bidding war closed the deal. It has since outlined plans to expand its existing presence in Canada, the US and Australia and hopes to break new ground in Brazil and New Zealand.