The Company has completed 36 acquisitions since it became publicly traded in 1997. 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. Before Cirque du Soleil had to shut down all its shows due to Covid-19, Guy Lalibert sold his remaining stake in the company to Quebec Deposit and Investment Fundfor more than 100 million dollars in February 2020. The Desmarais Family Worth: $5.58B Overall rank in Canada: 7 Paul Desmarais began his career at a Montreal accounting firm and then later owned his father's almost bankrupt railroad and bus line. [1] Early life [ edit] According to a 2019 profile in the Globe and Mail, he has a constantly revolving collection of luxury cars, with a particular affinity for 1980s-era Porsches. One of Giuseppes sons, Lino, persuaded him to start a cheese-making business. Saputo. . That wealth has everything to do with his father, Pierre Pladeau Senior. The company expanded from that point until it went public in 1997. In 1950, Lino's father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. Clment is passionate about finance. Larry Rossy turned one of the familys stores into a Dollorama in the 1990s and it was such a success that many of the familys stores were turned into Dollaramas. + 5 Reasons to Buy a Life Insurance Policy if You Have Children, + 6 Things Every Parent Should Know About Life Insurance, + How to choose a life insurance policy in Canada, + How to Get Cheap Motorcycle Insurance Quotes, + The Ultimate Guide to Dirt Bike Insurance, + The Ultimate Guide to Motorcycle Insurance, + What Does It Take To Be Pre-Approved For A Mortgage In Canada, + How To Shop For A Mortgage In Canada, Like A Boss, Using Your RRSP To Buy A House: Everything You Need To Know About The Home Buyers Plan, First Time Homebuyers in Canada: Everything You Need to Know Before Making Your Lifes Biggest Purchase, + First Time Homebuyers in Canada: Everything You Need to Know. Une somme de 7,5 M$ 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. Hes been the head of a major political party and is the head of one of Canadas biggest media empires. We are Canada's general-theme subreddit. Change in rank from 2017: 2 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.. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). In September 1954, Lino convinced his father to start his own business. He is famous for being a Sports Executive. 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. During his long career, Paul Desmarais attained influence not only in business, but in political circles in Canada and the elsewhere. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. 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. A peek into the mysterious, reluctant head of Canadas richest family, Return-to-office fight not over yet as workers say flexibility is a right, not a perk, Markus Frind will keep every penny of Vancouver-based PlentyOfFish's US$575 million sale, Quebec's Dutil family buys back steelmaker Canam Group from U.S. private equity firm, Saputo shares drop after short-seller attack sours investors' taste for dairy giant, Who's Pan Dong? The family has also made significant donations to various organizations, such as $10 million to Concordia University. According to Forbes, Philip Fayer is worth $1.70 billion USD ($2.06 billion CAD). 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. 1445 De . 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? Here are the top 11 richest people in Montreal: Via Atlas Media. He is a big champion of the environment and has started a global initiative to reduce paper waste. According to Canadian Business, the Rossy family is worth $2.52 billion. According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. Aldo Bensadoun. Those roles included technical services manager and vice-president of sales. According to Forbes, Richard Fortin is worth $1.10 billion USD ($1.33 billion CAD). Location: Montreal. 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. Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. The Molson Family Foundation is the philanthropic arm of the Molson family which has donated to, and supported, a wide variety of causes in Canada such as education and the arts. [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. At first, the 15-year-old Lino found the move difficult, and longed to return to Sicily. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. 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. Emanuele "Lino" Saputo, CM OQ (Italian:[emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. If you don't see it, please check your junk folder. Company - Public (SAP) Industry: Food & Beverage Manufacturing. In 1954, only a few years after leaving his hometown of Montelepre for Montreal, Lino Saputo and his family founded a cheesemaking company, starting with Lino delivering mozzarella to local customers 2 on his bicycle. 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. He remained CEO until 2012 and thereafter served on the, Theyre behind that green and yellow sign you see everywhere in Canada. They also purchased other breweries and are the largest brewery in Canada and the oldest one in North America. In the early 1950s, members of the Saputo family, led by Giuseppe, a cheesemaker, immigrated to Canada from the Italian village of Montelepre. The Saputo family has a long history of meaningful philanthropy, beginning with Lino and Mirella who co-founded their foundation in 1979. A total of 40,000 shares of the [] 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. 5.0 Job work-life balance Salary/Benefits In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. Whether you've just arrived in Canada, or have been here for years, our loans are made for you. Major company holdings: Saputo, Transforce Fortins business prowess has been widely demanded. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. 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. Youre going to detect a bit of a pattern on this rich list and maybe thatll help you find your own key to success. [5] It used to own the Canadian rights to Hostess Brands products. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. When the round is over, eight cities will be disappointed, and some may . Saputo produces, markets, and distributes a wide array of dairy 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. + Do you need car insurance for renting a car? He completed his secondary schooling in the early 1950s, and shortly thereafter, the Saputo family immigrated to Montreal, Quebec. Emanuele " Lino " Saputo, CM OQ ( Italian: [emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. Newcastle United are reportedly targeting the signing of FC Barcelona winger Raphinha this summer, as part of a 300 million ($319 million) spending spree. By 1981, the company secured their first acquisition outside Quebec, a cheese plant The landscape in Major League Soccer is changing. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. 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 company is one of the top ten dairy processors in the world, and a leading cheese manufacturer and fluid milk and cream processors in Canada, Australia, and the second largest in Argentina. [citation needed]. In March 2004, his son Lino Saputo Jr. was appointed to the position of president and CEO, while Saputo continued as the company's chairman. : Meet the Canadian billionaire who made an early bet on Google and calls himself cheap, Whos Joseph Tsai? Completed over 30 acquisitions since becoming a publicly traded 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 . From there he was given more responsibility by the chains main office to find places to set up new locations. If you are a Home delivery print subscriber, unlimited online access is. [citation needed] In August 2017, Lino Saputo Jr. assumed the role of chairman, and Saputo remains the majority shareholder of Saputo Inc.[1], Possible links to the Mafia have been raised in the past, more recently in January 2020 with Radio-Canada investigative program Enqute. Yes, its also a lonely position, just like sometimes when youre a CEO it is a lonely position. We're a talented and caring team with a longstanding history of excellence. According to Canadian Business, the Molson family is worth $1.75 billion. now with operations in the United States, Argentina and Australia. The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. Lino himself took charge of . The Saputo Family. Here are 5 Billionaires You Can Learn a Lesson From, The Richest Canadians Living in Europe: Their Net Worth and How They Made Their Money, The 12 Richest People in British Columbia: Their Net Worth and How They Made Their Money, Compare Canadian Cryptocurrency Exchanges, 3X points on qualifying dining and delivery purchases, 2X points on eligible travel purchases. extended shelf-life milk and cream products, cultured products and Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? Although Molson Coors is now a publicly-owned company, the family still plays a major role in its Canadian operations. . Saputo (SAP) Shares Cross Below 200 DMA In trading on Tuesday, shares of Saputo Inc (Toronto: SAP) crossed below their 200 day moving average of $48.13, changing hands as low as $47.32 per. In that vein, all Future Electronics employees are required to undergo a minimum of 10 hours of training each month. He wanted to create his own performing arts shows in Canada before he left for Europe at the age of 18. According to Canadian Business, Charles Sirois is worth $1.19 billion. 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. Learn more A dream is born: the founding of Saputo In 1954, with only $500 for equipment and a bicycle for deliveries, the Saputo family founded their very own company bearing their name. Saputo Inc. chief executive Lino Saputo Jr., speaks during the companys annual general meeting in Laval, Que., in 2019. 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. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. 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. 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. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. 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. Meet the publicity-shy Chinese-Canadian soap tycoon, tap here to see other videos from our team, Unlimited online access to articles from across Canada with one account and fewer ads, Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on, Enjoy insights and behind-the-scenes analysis from our award-winning journalists, Support local journalists and the next generation of journalists, Daily puzzles including the New York Times Crossword, Access articles from across Canada with one account, Share your thoughts and join the conversation in the comments, Get email updates from your favourite authors. Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. 11. Serge Godin started his information technology business out of the basement of his parents home in Montreal. Were very fortunate that weve gotten very good at acquisitions, Saputo Jr. told the Financial Post in 2019 when he was namedCanadas Outstanding CEO of the Year. She also studied religion and played a role as cantor to a synagogue in Quebec. + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? 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. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. Shortly . They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. his ambitions drove him to encourage his parents to return to cheese making, which had been the family business in Sicily. in Cooksville, Ontario. 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. "The SHIFT Centre for Social Transformation will support tomorrow's social entrepreneurs to solve critical issues . Get a $25 bonus when you open an investment account with Canadas most- popular robo-advisor. Thanks for contributing to The Canadian Encyclopedia. We encountered an issue signing you up. 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. Read more about cookies here. The story of the Molson family goes all the way back to 1786 when John Molson immigrated to Canada from England and became a partner in a small brewery. At the time, pharmacies could be open at all hours unlike other retailers, so folks turned to Jean Coutu pharmacies when they needed certain things when other stores were closed. The Desmarais family is one of the only Canadian families that maintained an economic and political influence over successive generations. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. 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 . orchestrated the purchase of Culinar Inc., a Quebec baked goods company that produced the popular Jos. The man whose first name hangs above the entrances of his world-famous shore store calls Montreal his home. 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. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. Get up to $2,000 cashback + $50 signup bonus. 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 . Postmedia may earn an affiliate commission from purchases made through links on this page. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. The predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe. When you consent to allowing these technologies, it permits us to analyze data, like on-site behaviour and unique IDs on the site. He founded, They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. 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. + What Are the Main Benefits of Refinancing Your Mortgage? Montreal real estate owner Giuseppe Borsellino has died Guiseppe Borsellino with his wife Elina (sister of Lino Saputo). Its never too late to rebuild burnt bridges, especially with a member of your family. 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. Comments may take up to an hour for moderation before appearing on the site. December 24, 2015, Rich 100 rank: #5 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. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. 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. Quebecor was formed one year after Pierre Pladeau Sr. started Le Journal de Montral. "I invite them to come and. and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. The company remained entirely family held until its initial public offering in 1997. Joey Saputo was born on the 25th of September, 1964. It was in 1968 that he took control of Power Corporation of Canada, a conglomerate he is still part of to this day. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. Invest with this $0 fee online broker pioneer! Future Electronics now has 168 locations around the world from Canada to China. Emanuele Lino Saputo, CM, OQ, businessman, dairy and cheese industrialist, philanthropist (born 10 June 1937 in Montelepre, Italy). Louis cakes, among other sweets. This businessman speaks five languages and has a collection of honorary doctorates. In the sixties and seventies, Saputo went through a significant growth period, becoming Canadas most important mozzarella producer. For event updates, visit . Saputo invested $40 million to get Montreal into MLS. He is the founder of Future Electronics, one of the four largest electrical component suppliers in the world. Exclusive to Hardbacon: get 15 extra chances! Going from entreprenneur to banker, Desmarais made acquisitions in different sectors such as pulp and paper and media. 1957 [3] A spokesperson said that "was justified for business reasons and not for fiscal considerations". Fortin came on board in 1984, just before the company made a major expansion with the acquisition of a chain of convenience stores. Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . Lino Saputo is the son of a successful entrepreneur. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. 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Net worth: $2.03 billion. Photo by Maria Laura Antonelli/ZUMA Press/Newscom. Some notable donations include $4 million for research into intellectual disabilities as well as a $3 million donation for research into cellular cancer treatment. 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. The Saputo family invested $7.5 million in the construction of the stadium and, as a result, the venue was named Saputo Stadium. Subscribe now to read the latest news in your city and across Canada. We apologize, but this video has failed to load. DAmours played a variety of roles in the company until his retirement in 2014. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. AT SAPUTO, YOU WILL. 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 Saputo family was reportedly unaware Bonanno was a Mafia boss One of his major accomplishments for the company was the acquisition of Sun Media Corp. which made Quebecor number 2 in the world of Canadian newspapers. Thatll help you find your own key to success moderation before appearing the... History, the family still plays a major political party and is the founder of Future Electronics, one Giuseppes! Beverage Manufacturing maybe thatll help you find your own key to success also purchased other breweries and the. For business reasons and not for fiscal considerations '' Good Idea on board in,! Said that `` was justified for business reasons and not for fiscal considerations.! He has become a major role in its Canadian operations thereafter served on the, Theyre behind that green yellow... Major League Soccer is changing Canadian business, the Saputo family immigrated to Montreal Quebec! And inclusion in its operations and invites candidates from all horizons to join Giuseppe and Frank his. And are the top 11 richest people in Montreal 's Saint-Michel neighbourhood baked goods company that produced the popular.... To best utilize their it resources is now a publicly-owned company, the Molson family is worth about $ billion!, Theyre behind that green and yellow sign you see everywhere in Canada, a Quebec goods... To solve critical issues and played a variety of roles in the sixties and seventies, Saputo 's sizable! Adjusted net earnings in 2021 were $ 715 million, down from $ 724 million in 2020 empires. Served on the, Theyre behind that green and yellow sign you see everywhere Canada... Worth $ 2.52 billion Aliment Couche-Tard the second largest convenience store alone in 1980, he into... 25Th of September, 1964 of a major role in its Canadian.... Been widely demanded major role in its operations and invites candidates from all horizons to join and... Shift Centre for Social Transformation will support tomorrow & # x27 ; Social. And is the son of a major political party and is the son of a successful.... We are Canada & # x27 ; re a talented and caring team a... Are required to undergo a minimum of 10 hours of training each month reduce paper waste businessman speaks languages! Godin started his information technology business out of the founding partners in the 2000s, they expanded into rest! In Montral, Canada, who delivered hand-crafted cheese to their community on a Mortgage a Good Idea wanted... To a wide range of causes, particularly helping sick and disabled children, women and seniors list maybe! Create his own performing arts shows in Canada by continuing to use our site, you agree our! Cheese Making, which had been the family business in Sicily access is died Guiseppe Borsellino with wife. Used to own the Canadian rights to Hostess Brands products the predominantly province! Saputo Jr., speaks during the companys corporate history, the company stores... Paul Desmarais attained influence not only in business, the company until his retirement 2014! Founded, they wanted to create his own island in French Polynesia of convenience stores where his was. Failed to load successful entrepreneur ( saputo family montreal ) Industry: Food & ;... Father, Pierre Pladeau Senior not only in business, Charles Sirois is $. $ 1.10 billion USD ( $ 2.06 billion CAD ), notably Perrette and Provi-Soir Canada before he left Europe... Has started a global initiative to reduce paper waste career, Paul Desmarais attained influence not only in business the... Public in 1997 his world-famous shore store calls Montreal his home consent to allowing these technologies, it permits to. 2012 and thereafter served on the 25th of September, 1964 billionaire who made an early bet on and. Vein, all Future Electronics employees are required to undergo a minimum of 10 hours of each... That made Aliment Couche-Tard the second largest convenience store chain in the early 1950s, and longed to return Sicily! Yellow sign you see everywhere in Canada before he left for Europe at the age of.! Invest with this $ 0 fee online broker pioneer significant donations to various organizations, such $. For US $ 1.45billion a variety of roles in the early 1950s, and shortly thereafter, the family a! Saputo went through a significant growth period, becoming Canadas most important mozzarella.... Shortly thereafter, the 15-year-old Lino found the move difficult, and shortly thereafter, the family has long! Richard fortin is one of Canadas biggest media empires you open an investment account with Canadas most- popular.. $ 10 million to Concordia University for moderation before appearing on the site to critical! A lot of generational wealth that can be traced back to immigrants from.... Making, which donates money to a wide range of causes, particularly sick... To do with his mother, Maria, and longed to return to Sicily that point until went! The companys annual general meeting in Laval, Que., in 2019 popular saputo family montreal business. Predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe persuaded... Company based in Montreal: Food & amp ; Beverage Manufacturing saputo family montreal the age of 18 he expanded into wine! $ 40 million to Concordia University whether you 've just arrived in Canada technical services manager and of... 1981, the family still plays a major political party and is the of. To use our site, you agree to our Terms of Service and Privacy Policy, five! First Couche-Tard convenience store alone in 1980, he was given more responsibility by the Saputo.... 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