Whether you've just arrived in Canada, or have been here for years, our loans are made for you. In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. Considering its global reach, billions of dollars in sales, and the wealth of its founding family, Saputo Inc. is not an overly well-known Canadian company. + Why Subprime Mortgages are Popular in Canada, + CMHC and Mortgage Default Insurance: The Secret No One is Telling You. [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. In 1985 Joey Saputo began working for the family business, Saputo Incorporated., a dairy processing company founded by his father Lino Saputo in 1954. It is believed that a large part of the companys success comes from the fact that it is able to purchase large inventories and hold onto them for its customer base. tasting the product daily. If you are a Home delivery print subscriber, unlimited online access is. [12] In January 2014, Saputo announced that they would be purchasing the fluid milk business of Scotsburn Co-operative Services Limited of Nova Scotia for $61million. In 2003, Saputo acquired Molfino Hermanos S.A., Argentinas third largest milk processor. He is the co-founder of the Cirque du Soleil international entertainment empire, which before its bankruptcy, was valued at more than a billion dollars. That quick success had to do with the fact that back then private payment processors were a fairly new thing. Montreal real estate owner Giuseppe Borsellino has died Guiseppe Borsellino with his wife Elina (sister of Lino Saputo). Lino Saputo is the son of a successful entrepreneur. The storage or technical access is necessary for the purpose of legitimate interest to store preferences that are not requested by the subscriber or user. [7] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465million. Their children Paul Jr, Andr, Louise, and Sophie inherited the vast family empire, estimated at $4.8 billion billion USD ($5.81 billion CAD) according to Celebrity Net Worth. Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. The company went public on the Toronto Stock Exchange in October 1997 and shortly after tripled its size by acquiring Stella Foods in the U.S. Jolina Capital Inc., a holding company controlled by Lino Saputo, holds 32 per cent of Saputo Inc., making Jolina the principal shareholder. Visit our Community Guidelines for more information and details on how to adjust your email settings. Azrieli has graced some of the biggest opera states in the world and performed in classics like Romeo and Juliet as well as Don Pasquale. Saputo, now 84, stepped aside as Saputo Inc. chief executive in 2003, replaced by his son Lino Saputo Jr., marking a transition to third-generation family management. Get up to $2,000 cashback + $50 signup bonus. Pierre Karl Pladeau is a very rich man. The real estate mogul and philanthropist died at the age of 80 on. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. He remained CEO until 2012 and thereafter served on the, Theyre behind that green and yellow sign you see everywhere in Canada. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. Check out the latest episode below: Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. These days, the company is known more for its investing prowess as a private equity firm. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. In 1999, the company Our story began in Canada in 1954, when the Saputo family's hard work and dedication created a thriving dairy business. Saputo is now the world's eighth largest dairy producer and own Saputo Stadium and the Montreal Impact soccer team, as well as Italian club Bologna. While Saputo Inc. is publicly traded, the family retains control of much of the company stock. Lino A. Saputo Jr., BA 89, co-chair for the Campaign for Concordia and chair of the Board and Chief Executive Officer of Montreal-based Saputo Inc. (TSE:SAP), says this major gift is a pragmatic investment for his family. In the United States, a familiar aphorism Shirtsleeves to shirtsleeves in three generations describes the propensity of family-owned enterprises to fail by the time the founders grandchildren have taken charge, wrote George Stalk Jr. and Henry Foley in the Harvard Business Review in 2012. Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? We're a talented and caring team with a longstanding history of excellence. Subscribe now to read the latest news in your city and across Canada. June 22, 2022. [19] The company was valued at C$1.7billion (975million). Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. [15], On February 3, 2015, Canada Bread Company Limited completed a C$120million acquisition of Saputo Bakery, a division of Saputo Inc.[16] Canada Bread Company Limited is a subsidiary of Mexico's Grupo Bimbo. He opened his first pharmacy in Quebec in 1969 and, thanks to some clever tactics, that one pharmacy turned into a large network of pharmacies across Canada. Major company holdings: Saputo, Transforce Saputo. He later went on to become the full owner of Molson Brewery in Montreal. He has sat on the boards of media giant Transcontinental as well as the National Bank of Canada. 100 votes, 33 comments. Among the top 10 dairy producers in the world, the $16-billion multinational Saputo sells its milk, cheese, yogurt and other goods under dozens of different brand names around the globe. Joey Saputo is the son of Emanuele "Lino" Saputo, the founder and head of Saputo, a Canadian dairy products company that also markets a range of other items like spaghetti sauce. The Saputo Family. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. products of the utmost quality, including cheese, fluid milk, In 1950, Lino's father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Jarislowsky also served in the US armed forces before moving to Montreal to work for Alcan. He is responsible for communication at Hardbacon, and will entertain you with his articles about a wide variety of topics. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. Essentially, they gave business people the ability to send short wireless text messages on a tiny electronic device you could hook onto your belt buckle. until reading about it in local newspapers. Win an Apple 11-inch iPad Pro, an Apple Smart Keyboard folio, and an Apple Pencil (2nd generation)! Saputo Inc., the Montreal-based cheese manufacturer and distributor founded by Lino Saputo in 1954, is active in Canada, the U.S., Argentina, the U.K. and Australia, and the company is. Although Molson Coors is now a publicly-owned company, the family still plays a major role in its Canadian operations. Its products are sold in over 60 countries worldwide,[3] operating in Canada, the United States, Argentina, Australia and the United Kingdom, with about half of its revenues coming from its US operations. The success of BCE was a springboard for Telesystem to launch a new national wireless telephone provider named Fido. Photo by Maria Laura Antonelli/ZUMA Press/Newscom. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. Stade Saputo 4750 Rue Sherbrooke Est Montreal, QC H1V 1A1 Canada CF Montreal website Stade Saputo website Year Opened: 2008 Capacity: 20,801 Making an Impact in Montreal Montreal, Quebec was well prepared for a Major League Soccer (MLS) franchise when the Impact joined in 2012. Postmedia may earn an affiliate commission from purchases made through links on this page. In a 3.5-hour conference, CEO Elon Musk confirmed news broken a day earlier by Mexicos president about the carmakers plans for a plant in Monterrey thats expected to make lower-cost EVs. According to Canadian Business, the Rossy family is worth $2.52 billion. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. December 24, 2015, Rich 100 rank: #5 But in theearly 1990s, the company started buying out pharmacies in the United States. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. Rogers Family Toronto | Rogers Communications: $11.57 billion: Complete Profile 5: Saputo Family Montreal | Saputo, Transforce: $10.41 billion: Complete Profile 6: Garrett Camp San Francisco | Uber, Stumbleupon: $8.58 billion: Complete Profile 7: Desmarais Family Montreal | Power Corp. of Canada: $8.38 billion: Complete Profile 8 . We're a talented and caring team with a longstanding history of excellence. Dollarama, which went public in 2009 under the ticker DOL, now have a. ccording to Canadian Business, the Rossy family is worth $2.52 billion. Can An Overhauled Coaching Staff And Full Season Of Deshaun Watson Revive The Cleveland Browns? Second to Ontario when it comes to the provinces with the most billionaires, Quebec is home to some of the richest people in Canada and the world. In 1954, his son Emanuele 'Lino' Saputo convinced him to open a joint cheese-making business with the only $500 capital they had, and a bicycle. Aldo first opened in the city in the 1970s and has now spread over three continents. [9] Agrifoods International was itself the result of a series of mergers between dairy cooperatives in Western Canada in the 1990s. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. The company has made four acquisitions in 2021 alone, the most recent being its September purchase of the Carolina Aseptic and Carolina Dairy businesses in North Carolina for US$118 million (approximately $149 million). Lino is an enthusiastic car collector, particularly of vintage Cadillacs and other classic cars. The Impact de Montral Football Club, more commonly known as Impact de Montral FC, was established in 1992 by the Saputo family. Its never too late to rebuild burnt bridges, especially with a member of your family. As of September, founder Emanuele (Lino) Saputo and his family had a net worth of US$5.5 billion, according to Forbes, placing the family in the No. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. The company was on the verge of bankruptcy but Paul Desmarais put it on solid footing and expanded it by buying other bus lines in Ontarion and Quebec. The roots of Sharon Azrielis fortune go back to when her father, David Azrieli fled Poland at the beginning of WWII and eventually ended up in Montreal in his early 30s. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. [13] In February 2014, Saputo acquired a relevant interest of 87.920 percent of Victoria, Australia, dairy product firm Warrnambool Cheese & Butter Factory Company Holdings Limited shares. Part of that success had to do with the fact that Jean Coutu didnt just sell pharmaceuticals, but rather low-priced items like school supplies, bathroom tissue, and other products that other pharmacies didnt carry. Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. When the round is over, eight cities will be disappointed, and some may . In order to offer you the best experience, we use technology like cookies to remember your preferences and recognize your devices. 10000+ Employees. Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. History Of CF Montreal: Founded In 1992. Lino Saputo Sr. remained as chair of the board until 2017, when he was again followed by his son. Couche-Tard, also known as Alimentation Couche-Tard, was founded by Alain Bouchard with a single convenience store in 1980. The company did not make either father or son available for an interview, saying Lino Sr. is enjoying his well-earned retirement, while Lino Jr. was too busy. However, it is his son, Larry Rossy, who came up with the concept of the cheap dollar store after he took over from his father. Giuseppe Saputo, an Italian cheesemaker, immigrated with his family to Montreal in the 1950s. He was born Emanuele Saputo on June 10, 1937 in Montelepre, Sicily, Italy but the family immigrated to Montreal, Quebec when he completed his secondary education in the early 1950s. While they retired from day-to-day operations, they still have seats on the Board of Directors and their respective sons have active roles in the company. Fido was a hit and Rogers Wireless bought the company in 2004 for $1.4 billion dollars. Lino Saputo Jr. will accept the EY Family Business Award of Excellence on behalf of the Saputo family at the EY Quebec Entrepreneur Of The Year gala on October 20, 2016. Montreal, QC H3G 1M8 J.W. Comments may take up to an hour for moderation before appearing on the site. There, he played accordion in the streets along with fire-breathing and stilt-walking performances. Saputo 's first important production installation. The Kruger family history dates back to 1904 when American, Joseph Kruger, brought his family to Canada and opened up a fine paper company in Montreal. Named for the Olympic Stadium complexes built for the 1976 games, the Olympic Park and the surrounding neighborhood of Hochelaga-Maisonneuve (HoMa) make up an invigorated area dedicated to "Space for Life." Around the Olympic Village's arenas and stadiums, Rue Sherbrooke welcomes . This businessman speaks five languages and has a collection of honorary doctorates. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. + Mortgage Prepayment Options: The Pros And Cons. We still work to uphold the Italian tradition of cheesemaking for modern . it was the acquisition of Circle-K in that made Aliment Couche-Tard the second largest convenience store chain in the world, second to 7-Eleven. According to a 2019 profile in the Globe and Mail, he has a constantly revolving collection of luxury cars, with a particular affinity for 1980s-era Porsches. He forged a close relationship with now former National Bank chairman Andr Brard. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. + How to Apply for a Business Credit Card (and Get Approved), + Best Credit Cards to Rebuild your Credit, + Everything you need to know about your credit score in Canada, + Tips to improve your credit rating in Canada, + What is a Credit Score? [14] It acquired all the remaining shares in March 2017. When you look at the stories of some of the richest people in the world, you learn that it doesnt take a lot of money to start a billion-dollar business. Despite a dicey year punctuated with uncertainty around NAFTA renegotiations, the Saputo family business appears to be doing just fine. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. Thanks for contributing to The Canadian Encyclopedia. Shortly . Factory on St-Michel street in Montreal. The Saputo family owns hundreds of antique cars and oversees an automobile enthusiasts' club. Philip Fayer was studying at Concordia University when he founded a payment processing company in 2003, with the help of co-founder Lester Hernandes. These allegations formed part MONTREAL-Lino Saputo, founder of Canada's largest dairy-processing company, is inviting the RCMP to talk to him about allegations linking him to the Italian Mafia. How large is the Montreal Impact's venue? The Intern, Communications will be responsible for assisting in the development and deployment of internal and external communications strategies. We encountered an issue signing you up. Emanuele "Lino" Saputo, CM OQ (Italian:[emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. The company built its first significant production facility three years later, and quickly benefited from the boom in the North American appetite for pizza and, specifically, mozzarella. In the midst of all that he also became the first Canadian space tourist and created the One Drop Foundation to help ensure access to clean water around the world. We are Canada's general-theme subreddit. Linos interests also expanded beyond dairy. The Montreal-headquartered company is one of the biggest dairy processors in the world, selling cheese, milk, and other dairy products in more than 60 countries. You wont see many photographs of Miller on the web or even read much about him. But one thing we can say for sure is that hes still living the sweet life and taking care of business well into his seventies. Saputo, the son of an immigrant cheesemaker, had become a billionaire, philanthropist, and head of Quebecs richest family. DiBella initially agreed to personally invest Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. That wealth has everything to do with his father, Pierre Pladeau Senior. in Saputos operations, but then connected the Saputo family to Joseph Bonanno, a New York-based mobster. document.write(new Date().getFullYear()) Saputo Inc. All right reserved. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. By the end of the nineties, the Company tripled in size and took its place among the Unites States leading natural cheese producers through the acquisition of Stella Foods. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. It produces, markets, and distributes a wide array of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients and is one of the top ten dairy processors in the world. Fortin has established Lise et Richard Fortin, a foundation that provides money to a variety of causes including those that assist children and the elderly. [6], Learn how and when to remove this template message, "Forbes profile: Emanuele (Lino) Saputo & family", "Quebec dairy mogul Lino Saputo had secret past dealings with U.S. mobster Joe Bonanno, then lied about it", "Notable Canadian companies, individuals in the Paradise Papers", "Canada's Richest People: The Saputo Family", "Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr", https://en.wikipedia.org/w/index.php?title=Lino_Saputo&oldid=1120973894, This page was last edited on 9 November 2022, at 20:52. His son, Gene Kruger, took over the company in the 1920s and grew it by adding newsprint, tissue and cardboard to the list of things the familys company manufactured. The sale of shares in Saputo Inc. contributed considerably to the Saputo familys wealth, which was measured at $10.61 billion as of 2017. This company specialized in paging devices, which were the techiest of tech at that time. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. SAPUTO. According to Canadian Business, Charles Sirois is worth $1.19 billion. The extent of his goaltending prowess is unclear, though its apparent hes so far helped stop Saputo Inc. from following the tradition of third-generation family business decay. The Saputo family's initial production was limited to just ten kilos (22 pounds) per day. Some 70 per cent of family-owned businesses fail or are sold before the second generation gets a chance to take over In many ways, leading a family-owned business has never been harder., I dont take anything for granted at all. By 1981, the company secured their first acquisition outside Quebec, a cheese plant As in the 1960s and 1970s, no direct evidence of those ties was discovered. Nonetheless, the family company long lived under the shadow of its purported link to Bonanno the company was even raided in 1972 by Montreal police. Former operations chief to the Savoie real estate family, Auger is chief executive of Crysalia, a Montreal-based consultant which started up in May. Reflects change since 5 pm ET of prior trading day. SpaceX Rocket Launches Crew Of Four To International Space Station, Newcastle United Target FC Barcelona Raphinha Signing In $320 Million Spending Spree - Reports, Philippine Tycoon Edgar Saavedras Megawide To Build $300 Million Data Center In Digital Pivot. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. [3], Saputo owns a significant stake in a trucking company, TransForce, and has extensive investments in real estate, forest products, hotels and golf courses. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. He went on to work for the Provi-Soir convenience store chain. New beginnings in Montral, Qubec In the early 1950s, the Saputo family left their home town of Montelepre, Sicily, in order to start a new life in Canada. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). The foundation provides money to a variety of causes including those focusing on healthcare. Im mindful of that every single day so I dont take anything for granted at all. Yet the Saputo family claimed that they had been unaware of Bonanno's reputation, and canceled the deal as soon as they learned of Bonanno's mafia connections. The storage or technical access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. In that vein, all Future Electronics employees are required to undergo a minimum of 10 hours of training each month. His son Andr married the France Chrtien, the daughter of former Canadian Prime Minister Jean-Chrtien. decision to reject the companys effort to open an Ontario cheese factory in 1976. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. His son Lino Saputo Jr. was named "Canada's Outstanding CEO of the Year" for 2019 by the Financial Post. in Cooksville, Ontario. In the midst of all that he also became the first Canadian space tourist and created the One Drop Foundation to help ensure access to clean water around the world. Saputo has repeatedly denied those allegations, writing in his book Entrepreneur: Living our dreams: "We respected the law, kept our distance from criminal organizations, and avoided crossing the wrong people". The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. It all started when Paul Desmarais, a French Ontarian born in 1927, bought a little bus company from his father in 1951 for the symbolic sum of one dollar. She also studied religion and played a role as cantor to a synagogue in Quebec. [18], On February 22, 2019, it was announced that Saputo would be buying British dairy company, Dairy Crest. transition whereby one of his sons, Lino Saputo Jr., assumed the position. Sharon Azrieli has been recognized by the National Order of Quebec and also sits on the board of her fathers philanthropic organization, the Azrieli Foundation. It forces me to work a little harder.. Reviews and recommendations are unbiased and products are independently selected. At Saputo, our best comes from our people. Joey Saputo is the son of Canadian billionaire Lino Saputo, the founder of Montreal-based Saputo Inc., one of the most prominent dairy companies in the world ( see also Diary Industry; Cheese and Cheese Making ). [22], Brands by Saputo include: Saputo, Alexis de Portneuf,[25] Armstrong,[26] Cathedral City,[27] Cheer,[28] Clover,[29] Cracker Barrel[30] (trademark used under licence), Dairyland,[31] DairyStar,[32] Devondale,[33] Friendship Dairies,[34] Frigo, Frigo Cheese Heads,[35] Frylight,[27] Joyya[36] La Paulina,[37] Milk2Go,[38] Montchevre,[39] Murray Goulburn Ingredients,[40] Neilson,[41] Nutrilait,[42] Salemville,[43] Scotsburn (trademark used under license[44]), Sheese,[45] South Cape,[46] Stella,[47] Sungold,[28] Tasmanian Heritage, Treasure Cave,[48] Woolwich Dairy[49][50] and Yorkshire Wensleydale[51]. equipment and a delivery bike to support his parents, who made cheese in a rented room in the Delca Cheese factory on Rue de Rouen. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. Changed over the past three years the foundation saputo family montreal money to a in. 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