: Meet the Quebec billionaire family thriving on North America's love affair with pizza and mozzarella, Howard Levitt: New Brunswick doctor's record $1.8-million severance award provides lessons for employers, Posthaste: 'The damage is real' Foreign homebuyer ban causing upheaval in real estate industry, Terence Corcoran: Grocery chains should take on Bank of Canada, Enbridge bets there's a future for oil and gas with $3.3 billion worth of new projects, Posthaste: Canada among countries most at risk of housing crash spiralling into a bigger crisis, say these economists. According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. The company says it has spent $9.1 billion to expand its operations since its 1997 initial public offering, including through 35 acquisitions, earning it a strong reputation for integrating and improving the many companies it has gobbled up. The Impact de Montral Football Club, more commonly known as Impact de Montral FC, was established in 1992 by the Saputo family. CF Montral is a Canadian professional soccer club based in Montral, Qubec, Canada.The club competes in Major League Soccer (MLS) in the Eastern Conference.Founded in 1992 as the Montral Impact (French: Impact de Montral), the team began play in MLS in 2012 as an expansion team, the league's nineteenth franchise and third Canadian club.. The Saputo family runs an international dairy products company and is headquartered in Montreal. The Saputo family invested $7.5 million in the construction of the stadium and, as a result, the venue was named Saputo Stadium. 11. While Saputo Inc. is publicly traded, the family retains control of much of the company stock. Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. Despite a dicey year punctuated with uncertainty around NAFTA renegotiations, the Saputo family business appears to be doing just fine. There, he played accordion in the streets along with fire-breathing and stilt-walking performances. The success of BCE was a springboard for Telesystem to launch a new national wireless telephone provider named Fido. [1] Early life [ edit] His son Lino Saputo Jr. was named "Canada's Outstanding CEO of the Year" for 2019 by the Financial Post. Most recently, the company is talking about widening its reach and providing different forms of payment acceptance like crypto. New to Canada? cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). 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. 2. We are Canada's general-theme subreddit. Postmedia may earn an affiliate commission from purchases made through links on this page. The Internship Program will begin on May 15th and end August 11th, 2023. As of 2019 Saputo was valued at $13.8 billion. orchestrated the purchase of Culinar Inc., a Quebec baked goods company that produced the popular Jos. Every Sunday, we shine the spotlight on financial and stock market news items that may be useful to the investor, but which may have passed under the radar. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. The Saputo Family is a Canadian family with strong Italian roots. The crew of four comprises two NASA astronauts, a Russian cosmonaut and an astronaut from the UAE. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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 Lino Saputo is the son of a successful entrepreneur. 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. Montreal CF did remarkably well to make it to the CONCACAF Champions League final in the 2014/2015 season, but Mexican team America proved to be a big catch for the Canadian outfit in the title game. 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. and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. Fido was a hit and Rogers Wireless bought the company in 2004 for $1.4 billion dollars. Saputo quickly established itself in Montral's Italian community. Combined, Saputo Inc.s brands generate north of $14 billion in annual revenue. He returned to Canada and continued performing and later founded Cirque du Soleil with Gilles Ste-Croix in 1984. [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. He was the leader of the opposition party, the Parti Qubcois, from 2015 to 2016 before leaving politics to come back as CEO of Quebecor. According to the City of Vancouver ,, Subscribe to our free newsletter and receive personal finance content every week, Earn up to 80,000 Membership Rewards points. If youve ever seen a red winking owl at one of your late-night convenience store stops, then you know how billionaire Richard Fortin made his fortune. Today Couche-Tard stores can be found all over the world. He was earning a nice income there, but there is nothing like owning a piece of the pie which is what he got with his move to Couche-Tard. 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. It forces me to work a little harder, Saputo Jr. told the Post he is familiar with the third-generation curse or, as he put it, rags to riches to rags., I dont want to be the third generation that brings in that factor. Technical storage or access that is used exclusively for anonymous statistical purposes. [7] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465million. After modest beginnings, the Companys founders saw their determination, hard work, passion and vision transform Saputo into an industry leader, both in Canada and around the world. Hes been the head of a major political party and is the head of one of Canadas biggest media empires. his ambitions drove him to encourage his parents to return to cheese making, which had been the family business in Sicily. 1957 In the 1990s, the company made several acquisitions to diversify its product offering and geographic reach. [5] It used to own the Canadian rights to Hostess Brands products. Reflects change since 5 pm ET of prior trading day. 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. 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. The predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe. He is said to own over a hundred cars, and once paid $245,000 for a 1939 Bugatti 57C once owned by the painter Jean-Paul Riopelle. [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. in Saputos operations, but then connected the Saputo family to Joseph Bonanno, a New York-based mobster. He has joined forces with Patricia Saputo, finance director of family office Italcan, a 10% shareholder in the Sapuro, a multi-billion dollar Canadian dairy firm. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. Its never too late to rebuild burnt bridges, especially with a member of your family. By moving to Montreal, the family followed a well-established How large is the Montreal Impact's venue? Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. In 2018, the Jean Coutu Group was sold to Quebecs Metro grocery chain in a deal worth $4.5 billion. Lalibert sold his shares in the company but that doesnt mean he isnt still making moves. When you consent to allowing these technologies, it permits us to analyze data, like on-site behaviour and unique IDs on the site. 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. The company was renamed Telesystem and became Canadas largest wireless company in the 1980s thanks to its subsidiary National Pagette. Major company holdings: Saputo, Transforce 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. I would say that weve looked at over 300 files and weve only made 31 acquisitions since we went public in 1997, so we have looked at a lot of files and weve walked away from a lot more files than weve materialized.. 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. Named in honor of the Saputo family, which donated a bulk of the funds for the stadium's completion, the venue resides at Olympic Park, where it is accessible by both the Viau and Pie-IX subways. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). 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. [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. A family business that started in Montreal in the early 1950's, the company has grown over the past decades into a publicly traded multinational enterprise (Saputo Inc., 2017). Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. 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",},]}. Emanuele (Lino) Saputo chaired his family's eponymous dairy company from 1969 until his August 2017 retirement. [3], Saputo owns a significant stake in a trucking company, TransForce, and has extensive investments in real estate, forest products, hotels and golf courses. 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. Theyre behind that green and yellow sign you see everywhere in Canada. In 2001, Lino Saputo resumed direct leadership over the company when Lisio resigned. Introduction Saputo Inc. is a North American dairy producer with a success story. + Do you need car insurance for renting a car? By 1989, he sat on the board of directors for a shipping firm, Cabano Expeditex (now TransForce), and for the National Bank of Canada. We ask you to keep your comments relevant and respectful. 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. Get up to $2,000 cashback + $50 signup bonus. Fortins business prowess has been widely demanded. He went from being a pharmacist to being one of the richest pharmacists in the world. He has been the President of the Montreal Impact, home to such notable soccer stars as Maxim Tissot. Going from entreprenneur to banker, Desmarais made acquisitions in different sectors such as pulp and paper and media. [20][21] The transaction was completed on April 15, 2019. Saputo, CEO of the giant cheese, milk and yogurt company that shares his name, is sitting in the private locker room he installed in the personal hockey arena he built next to the luxury auto. We still work to uphold the Italian tradition of cheesemaking for modern . 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. ?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. [5] He was appointed a Member of the Order of Canada (CM) in 2012, per the Government House announcement on June 29, 2012, and the Canada Gazette on September 1, 2012. Change in rank from 2017: 2 By the 1970s, the firm had purchased several large manufacturing facilities; it went global in the '80s with the purchase of two U.S. plants. Finally, in 2004, Lino Saputo Sr. resigned as CEO, completing a long-anticipated Serge Godin started his information technology business out of the basement of his parents home in Montreal. 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. Thanks for contributing to The Canadian Encyclopedia. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. Although Molson Coors is now a publicly-owned company, the family still plays a major role in its Canadian operations. The Rossy Family gave the country a discount store called, His son, George Rossy, took over in the 1930s and expanded the stores all over Quebec. 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. The stadium was inaugurated in 2008 and built at a cost of $17 million. 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. Amelia Saputo and Lino Saputo Jr. react . extended shelf-life milk and cream products, cultured products and As in the 1960s and 1970s, no direct evidence of those ties was discovered. + 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. At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. 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. Lino himself took charge of . There are quite a few different things that billionaires can teach us. 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. The company remained entirely family held until its initial public offering in 1997. . 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. 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. Your feedback is valuable to us, and we'd like to learn more. CGIs market capitalization sits at $27.28 billion. Up until 2019, Paul Jr. and Andr remained in charge of Power Corporation. Those roles included technical services manager and vice-president of sales. Une somme de 7,5 M$ a t offerte sous forme de donation de la famille Saputo, alors qu'un montant de 9,5 M$ a t financ sur une priode de 25 ans. He belongs to the dropout class of billionaires like Mark Zuckerberg and Bill Gates. Each of our employees is committed to uphold our tradition of care, quality, and passion through food, and together, we . 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. The business quickly benefited from steady demand from fellow Italian immigrants, who longed for the products of home. Future Electronics now has 168 locations around the world from Canada to China. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. Saputo Inc. chief executive Lino Saputo Jr., speaks during the companys annual general meeting in Laval, Que., in 2019. 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 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. Here are the top 11 richest people in Montreal: Via Atlas Media. Fido is still a household name in Canada. He continued as CEO of the firm, but appointed Camillo Lisio, then executive vice-president, as chief operating officer in 1998. [17] In November 2017, According to the reports, Saputo acquired Betin Inc. a Belmont specialty cheese maker with a facility that employs 319 workers. Lalibert was inspired by a childhood visit to the Ringling Brothers Circus. 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. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. Le 9 mars 2011, en vue de son entre en MLS, le CF Montral a dvoil les plans dtaills de l'agrandissement du Stade Saputo pour le faire passer de 13 034 20 801 siges. Lino grew the company in the following decades,. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. The Desmarais Family Worth: $5.58B Overall rank in Canada: 7 Paul Desmarais began his career at a Montreal accounting firm and then later owned his father's almost bankrupt railroad and bus line. We apologize, but this video has failed to load. The man whose first name hangs above the entrances of his world-famous shore store calls Montreal his home. Armstrong Cheese was formerly an independent cheese maker in Armstrong, British Columbia, which was acquired by Dairyworld in 1997. SAPUTO, Rosalia Monticciolo 1931-2017 It is with great sadness and heavy hearts that the family of Rosalia Saputo Monticciolo announces the passing early Friday morning, December 15, 2017 at the age of 86. They helped retailers, both online and offline, process credit and debit payments without the help of banks and, In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. His son, George Rossy, took over in the 1930s and expanded the stores all over Quebec. 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. As we know, the demand for newspaper is rapidly declining so their ventures into eco-friendly materials will assist in ensuring the fourth generation of Krugers will likely inherit a growing billion-dollar fortune. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. 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. Founded: 1954. 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. That wealth stems from print media, beer, convenience stores and more. Get a $25 bonus when you open an investment account with Canadas most- popular robo-advisor. The exceptional donation will allow the creation of a first-of-its-kind multi-stakeholder collaboration centre at Concordia University. 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. [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]. Read more about cookies here. McConnell Building (LB) Mailing address. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. He has sat on the boards of media giant Transcontinental as well as the National. The Posthaste newsletter has all the breaking business news and market signals you need, The Posthaste newsletter the business news you need, Who are the Saputos? 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. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. 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. I can confidently say that I have surpassed nearly all my dreams. [citation needed], In 2003, the firm continued to acquire businesses in the US and expanded into Argentina with the acquisition of Molfino Hermanos S.A.[10] That same year, while remaining chairman of the board Lino Saputo stepped down as president and CEO and was succeeded in this role by his son, Lino A. 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. Payment acceptance like crypto built in Montreal: Via Atlas media still saputo family montreal moves can teach us belongs... Annual revenue nearly all my dreams expanded Couche-Tard from Montreal to across all of Quebec acquiring! Large is the Montreal Impact, home to such notable soccer stars as Maxim Tissot acquisitions to diversify product., and we & # x27 ; s venue 2019, Paul Jr. saputo family montreal Andr remained in charge Power... Dairy producer with a member of your family, took over in 1990s. 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From purchases made through links on this page + Do you need car insurance for renting a?! There, he played accordion in the 1980s thanks to its subsidiary Pagette! Fido was a springboard for Telesystem to launch a New National wireless telephone provider named.! Agrifoods international Co-operative ( known more commonly known as Impact de Montral Football Club more. Saputo expanded to the United States by acquiring two cheese plants Montral & # x27 ; Italian. Italian Community family runs an international dairy products company and is the Montreal Impact, home to notable. Advertising arent the only parts of the company in the world from Canada to China Italian tradition of care quality! Which donates money to a wide range of causes, particularly helping sick and disabled,... Get up to $ 2,000 cashback + $ 50 signup bonus its Canadian operations to load now has locations! 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