A conglomerate is a large corporation that consists of multiple, unrelated businesses operating in different industries. These businesses are usually acquired through mergers and acquisitions, and are managed as separate entities within the same corporate structure.
Conglomerates often have a diverse portfolio of businesses, ranging from manufacturing and retail to financial services and media. By diversifying their businesses across multiple industries, conglomerates are able to spread their risk and protect themselves against fluctuations in any one industry or market.