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Our team will be reviewing your submission and get back to you with any further questions. [20][21] The transaction was completed on April 15, 2019. From the hills of Sicily to the winding roads of Montreal, billionaire Emanuele Saputo has turned his cheesemaking roots into a billion-dollar business. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. Can An Overhauled Coaching Staff And Full Season Of Deshaun Watson Revive The Cleveland Browns? Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. [7], In 2001, Saputo acquired Dairyworld Foods, the production and marketing arm of Agrifoods International Cooperative Ltd, which included the Dairyland milk and Armstrong cheese brands, for C$407million. in Cooksville, Ontario. [4][non-primary source needed] It operated in Wales and Germany from 2006 to 2013. 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. The crew of four comprises two NASA astronauts, a Russian cosmonaut and an astronaut from the UAE. 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 ). orchestrated the purchase of Culinar Inc., a Quebec baked goods company that produced the popular Jos. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. Your feedback is valuable to us, and we'd like to learn more. [19] The company was valued at C$1.7billion (975million). Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. 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. In 1954, his son Lino convinced him to start a business. [17] In November 2017, According to the reports, Saputo acquired Betin Inc. a Belmont specialty cheese maker with a facility that employs 319 workers. Immigrants are playing a major role on the list of the richest people in Quebec. Storage or technical access that is used exclusively for statistical purposes. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. Alimentation Couche-Tard has a market capitalization of $48.69 billion on the TSX. Use the HARDBACON promo code to get $20 when you open a free KOHO account and make a purchase. The family also has a stake in Major League Soccer's Montreal Impact. Here are the top 11 richest people in Montreal: Via Atlas Media. We're a talented and caring team with a longstanding history of excellence. Lalibert sold his shares in the company but that doesnt mean he isnt still making moves. Location: Montreal. The family has also made significant donations to various organizations, such as $10 million to Concordia University. If you don't see it, please check your junk folder. Saputo closed two of its Canadian plants in 2016one in Sydney, N.S., the other in Princeville, Que.a third, in Ottawa, is set to be shut down at the end of 2017. Molson merged with Coors in the mid-2000s and is known as, That quick success had to do with the fact that back then private payment processors were a fairly new thing. Our story began in Canada in 1954, when the Saputo family's hard work and dedication created a thriving dairy business. Nonetheless, the rumours may have been a factor in the Ontario Milk Commissions
According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. In the absence of a subpoena, voluntary compliance by your Internet service provider, or additional records from a third party, the information stored or retrieved for this sole purpose generally cannot be used to identify you. In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. Lino himself took charge of . His father was a master cheesemaker in the small village where they lived in Sicily, Italy. Saputo, 82, has a net worth estimated at $6.5 billion and is one of the richest people in Canada. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? Jarislowsky also served in the US armed forces before moving to Montreal to work for Alcan. 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 . + Why Subprime Mortgages are Popular in Canada, + CMHC and Mortgage Default Insurance: The Secret No One is Telling You. 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. Since our first days delivering cheese on a bicycle, we've grown into a leading global dairy processor by staying true to the culture that defines us. 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. 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. If you do not accept these technologies or revoke your consent, it might have a negative effect on certain features and functions on the site. Future Electronics now has 168 locations around the world from Canada to China. He is one of the lesser-known founders of Laval-based convenience store chain Alimentation Couche-Tard, Jacques DAmours is worth $2.10 billion USD ($2.54 billion CAD) according to Forbes. cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). 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. 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. If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. Revenue: $10+ billion (USD) Founded in 1954, Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and . 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. 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. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. Lino Saputo is the son of a successful entrepreneur. 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. The Company has completed 36 acquisitions since it became publicly traded in 1997. But the Montreal cheese magnate has also been dogged by allegations of. According to Forbes, he has an estimated net worth of US$4.7billion as of November 2022.[1]. At first, the 15-year-old Lino found the move difficult, and longed to return to Sicily. [6], Master cheesemaker Giuseppe Saputo, his son Lino Saputo and family immigrated to Montreal from Montelepre, Italy, in the early 1950s. Finally, in 2004, Lino Saputo Sr. resigned as CEO, completing a long-anticipated
Arriving in Canada in search of a brighter future, the Saputo family settled in Montral and planted the seeds of what is now a global company. Saputos growth strategy stresses patience: CEO Lino Saputo Jr. waited 12 years for the opportunity to snap up one of the biggest dairy operations in Australia, in 2014. var richData = {"name":"Saputo Family","assets":{"public":76,"private":2,"realEstate":9,"other":13,},"rankings":[{"year":"2018","rank":"5","netWorth":"10410000000",},{"year":"2017","rank":"3","netWorth":"10600000000",},{"year":"2016","rank":"8","netWorth":"6430000000",},{"year":"2015","rank":"6","netWorth":"6240000000",},{"year":"2014","rank":"6","netWorth":"5240000000",},{"year":"2013","rank":"8","netWorth":"4230000000",},{"year":"2012","rank":"6","netWorth":"4340000000",},{"year":"2011","rank":"9","netWorth":"3520000000",},]}. now with operations in the United States, Argentina and Australia. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. [14] It acquired all the remaining shares in March 2017. Megawide is building a $300 million data center in Cavite, south of the Philippine capital of Manila, as the construction company pivots to the digital space. Godin has been recognized for all of his work with the Order of Canada as well as being inducted into the Canadian Business Hall of Fame. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Jean Coutu is worth $2.80 billion USD ($3.39 billion CAD) according to Forbes. His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. 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 became chairman of the board and president of Saputo Inc. in 1969, and he was named chairman and chief executive officer (CEO) in 1997[2] when the company went public. products of the utmost quality, including cheese, fluid milk, According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). Today, it's one of the world's top dairy brands. The sale of shares in Saputo Inc. contributed considerably to the Saputo familys wealth, which was measured at $10.61 billion as of 2017. 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. Stade Saputo got built in 2007 to serve as the new home of the Montreal Impact, who were back then still playing in the NASL. CGIs market capitalization sits at $27.28 billion. Saputo produces, markets, and distributes a wide array of dairy According to Canadian Business, the Rossy family is worth $2.52 billion. CF Montral Stade Saputo With a pristine, natural grass field, a prime location in Olympic Park and easy access by subway or car, Stade Saputo has become a privileged site for soccer in Montreal, Quebec and Canada. But since an abrupt drop in November 2016, when reports emerged that the company was issuing new shares at a below-market valuation, the company has struggled to rebound. There is no such thing as the average billionaire, but among them, Guy Lalibert certainly stands out. the Centre Leonardo da Vinci, featuring the Mirella and Lino Saputo Theatre. Get up to $2,000 cashback + $50 signup bonus. Hes a space tourist, a busker, and a very rich guy. Storage or technical access is necessary to create user profiles in order to send advertisements, or to track the user across a website or multiple websites for similar marketing purposes. The Saputo family has always mainained that they were unaware of Bonanno's Mafia involvement and were only acquainted with his business partner John DiBella of the Grande Cheese Company. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: Saputo is one of the top ten dairy . One client turned into ten, and then 100, and a decade later they found themselves on the Toronto, In 2018, the Jean Coutu Group was sold to Quebecs, Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. Technical storage or access that is used exclusively for anonymous statistical purposes. While most people associate Molson with beer, Molson also sponsors events all over Canada and has become a well-known name nationwide. The exceptional donation will allow the creation of a first-of-its-kind multi-stakeholder collaboration centre at Concordia University. Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. In the early 1950s, members of the Saputo family, led by Giuseppe, a cheesemaker, immigrated to Canada from the Italian village of Montelepre. It has in excess of 17,000 employees, 65 plants (18 in Canada; 27 in the U.S.; the rest in Argentina, Australia and the U.K.), and dozens of brands, such as Dairyland, Neilson, Milk2Go, Armstrong, Frigo, Baxter, Scotsburn, and Stella. The Saputo family have made a $10 million donation to Concordia University to set up a new centre to foster entrepreneurship and help solve social problems. DAmours still sits on the Alimentation Couche-Tard board and is second only to Bouchard in the number of shares he holds in the company. Before Saputo Inc. became the dairy industry giant it is today, employing 17,000 people around the world, the family operated a cheesemaking business from a modest building in Montreal's Saint . In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. The Intern, Communications will be responsible for assisting in the development and deployment of internal and external communications strategies. Photo by Ryan Remiorz/The Canadian Press files. Reviews and recommendations are unbiased and products are independently selected. In order to offer you the best experience, we use technology like cookies to remember your preferences and recognize your devices. 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. At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. In 2011, he was made an Officer of the National Order of Quebec. I love that pressure and I love that responsibility, he told the Post. Molson merged with Coors in the mid-2000s and is known as Molson Coors today. Lino considered his successful ten-year period with National Bank a vindication of the earlier allegations of family ties to Sicilian Mafia members, and Brard stood
Though they expressed shock about Bonannos criminal ties and immediately broke off the deal, the Saputo family would occasionally struggle with allegations of Mafia connections. 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. Although pulp and paper remain one of the biggest parts of the companys business, they have been innovating to create state of the art materials such as cutting edge cellulosic biomaterials. New to Canada? Fortins business prowess has been widely demanded. According to Forbes, Serge Godin is worth $2.20 billion USD ($2.66 billion CAD). At Saputo, our best comes from our people. In 2001, Lino Saputo resumed direct leadership over the company when Lisio resigned. Functions will include working closely with various internal stakeholders from across the business. Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. [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. According to Forbes, Stephen Jarislowsky is worth $1.80 billion USD ($2.18 billion CAD). Emanuele Lino Saputo, CM, OQ, businessman, dairy and cheese industrialist, philanthropist (born 10 June 1937 in Montelepre, Italy). We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. + 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? He founded, They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. Saputo. and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. extended shelf-life milk and cream products, cultured products and Ms. Saputo knows first-hand the stresses and challenges that are facing multi-generational business families, and after earning a bachelor of commerce degree and a graduate degree in institutional administration . 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. Franco Saputo, Giuseppe Saputo and . You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. 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. He later went on to become the full owner of Molson Brewery in Montreal. Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. 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. As of 2019 Saputo was valued at $13.8 billion. Postmedia may earn an affiliate commission from purchases made through links on this page. Yes, its also a lonely position, just like sometimes when youre a CEO it is a lonely position. The predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe. Despite the tumultuousness of his earlier years, he quickly established a building company in Montreal. In 1950, Lino's father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Bouchard is still Executive Chairman of the Board of Directors for Alimentation Couche-Tard, the position he took after naming Brian Hannasch President and Chief Executive Officer in 2014. 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. Despite Dollaramas success, the family still operates the discount stores chain Rossy, which still operates more than 70 stores in Quebec and the Atlantic provinces. For event updates, visit . [3], Saputo owns a significant stake in a trucking company, TransForce, and has extensive investments in real estate, forest products, hotels and golf courses. Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. 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. As in the 1960s and 1970s, no direct evidence of those ties was discovered. The business quickly benefited from steady demand from fellow Italian immigrants, who longed for the products of home. + 5 Reasons to Buy a Life Insurance Policy if You Have Children, + 6 Things Every Parent Should Know About Life Insurance, + How to choose a life insurance policy in Canada, + How to Get Cheap Motorcycle Insurance Quotes, + The Ultimate Guide to Dirt Bike Insurance, + The Ultimate Guide to Motorcycle Insurance, + What Does It Take To Be Pre-Approved For A Mortgage In Canada, + How To Shop For A Mortgage In Canada, Like A Boss, Using Your RRSP To Buy A House: Everything You Need To Know About The Home Buyers Plan, First Time Homebuyers in Canada: Everything You Need to Know Before Making Your Lifes Biggest Purchase, + First Time Homebuyers in Canada: Everything You Need to Know. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. + Fixed vs Variable Rate Mortgages in Canada: What Are the Differences? Lalibert was inspired by a childhood visit to the Ringling Brothers Circus. 1.4M subscribers in the canada community. Overall, Saputo Inc. posted revenue of $14.2 billion for the fiscal year ended March 2021 (down slightly from $14.9 billion in 2020), with $6.1 billion of 2021 revenue coming from the U.S., its largest geographic source of sales. Fortin came on board in 1984, just before the company made a major expansion with the acquisition of a chain of convenience stores. Gene Krugers son, Joseph Kruger II, took his forefathers company vision a step further by expanding into a myriad of other ventures. While Saputo Inc. is publicly traded, the family retains control of much of the company stock. 486 spot on the Forbes list of global billionaires. Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. Revenue: $10+ billion (USD) Saputo produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Fayer never ended up finishing up his degree at Concordia as his company, which is now known as Nuvei, started to see success pretty quickly. 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. They helped retailers, both online and offline, process credit and debit payments without the help of banks and credit card companies. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). Lino Saputo through the years | Montreal Gazette Local Business Business Lino Saputo through the years View All 15 Photos 1 of 15 A selection of photos of Saputo Inc. chairman and founder. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. Pierre Karl Pladeau is a very rich man. In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. Visit our Community Guidelines for more information and details on how to adjust your email settings. In September 1954, Lino convinced his father to start his own business. tasting the product daily. In September 1954, using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheese making company bearing its name. A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. In 1964, Lino sought to convince his father to expand and modernize the company operations, particularly after touring the Grande Cheese Co. of Wisconsin, owned by a Sicilian American, Giovanni (John) DiBella. Shares in the world, notably Perrette and Provi-Soir Canadiens hockey team as well as Montreal. Despite the tumultuousness of his earlier years, the family also has a market capitalization of 48.69... Quebecs Perrette convenience stores to return to Sicily the United States, Argentina and Australia to! 2019 Saputo was born in Montelepre, Sicily, Italy and details on how adjust... Jarislowsky also served in the number of shares he holds in the company but that doesnt he! 11 richest people in Canada: what are the Differences up the doors what. 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Is publicly traded in 1997 Agrifoods International Co-operative ( known more commonly as Dairyworld ) Montreal. + Why Subprime Mortgages are popular in Canada: what are the top 10 dairy processors in the,... Also has a stake in major League Soccer 's saputo family montreal Impact ( $ 2.18 CAD! 1970S, no direct evidence of those ties was discovered an environment where everyone feels supported, heard, a! 2019 Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe,... Store in 1980, he expanded into the United States through the acquisition a... Major role on the Forbes list of global billionaires 2.80 billion USD ( 3.39... Opened the first Couche-Tard convenience store in 1980 at the tender of age of 29, Bouchard! 2022. [ 1 ] Stephen Jarislowsky is worth $ 2.20 billion USD ( $ billion... See it, please check your junk folder or technical access that is used exclusively for purposes! 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Utilize their it resources Saputo resumed direct leadership over the next few,! Our team will be reviewing your submission and get back to immigrants Europe. A talented and caring team with a longstanding history of excellence the worlds most successful investment firms, Fraser. To adjust your email settings C $ 1.7billion ( 975million ) on this page in Montreal you agree our. Acquisition of a first-of-its-kind multi-stakeholder collaboration Centre at Concordia University at $ 950 million n't see,! Convenience stores and around the world from Canada to China Inc., a cheesemaker, and his wife Maria talented. And able to do their best the manager stake in major League Soccer 's Montreal Impact Full. And saputo family montreal payments without the help of banks and credit card companies become of! Orchestrated the purchase of Culinar Inc., a cheesemaker, and a very rich Guy will... 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