Major company holdings: Saputo, Transforce He forged a close relationship with now former National Bank chairman Andr Brard. Comments may take up to an hour for moderation before appearing on the site. The Saputo family likes to think big: The company is the largest cheese maker in Canada, third largest in both the U.S. and Argentina, and fourth in Australia. It forces me to work a little harder.. I love that pressure and I love that responsibility, he told the Post. In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. He scraped together $500 in savings for Saputo Inc. Food and Beverage Manufacturing Montreal, Quebec 120,362 followers Our best is made of yours / Le meilleur de nous est le meilleur de chacun / Lo mejor de nosotros es lo mejor de cada uno According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. 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. Whether you've just arrived in Canada, or have been here for years, our loans are made for you. The Impact de Montral Football Club, more commonly known as Impact de Montral FC, was established in 1992 by the Saputo family. We ask you to keep your comments relevant and respectful. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. Photo by Ryan Remiorz/The Canadian Press files. 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. Rosalia will be lovingly missed by her five daughters, Caterina, Maria, Enza, Josie and Valentina and her sons-in-law Raffaele and . and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. 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. now with operations in the United States, Argentina and Australia. 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. [2], Saputo was named in the 2017 Paradise Papers because he held shares in an offshore company, an aviation company, in Bermuda which he had sold off in 2010. At Saputo, our best comes from our people. Win an Apple 11-inch iPad Pro, an Apple Smart Keyboard folio, and an Apple Pencil (2nd generation)! DiBella initially agreed to personally invest They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. They helped retailers, both online and offline, process credit and debit payments without the help of banks and credit card companies. Welcome to, et bienvenue , r/Canada! Lino Saputo Sr., front, of the Montreal dairy giant Saputo Inc., and Lino A. Saputo Jr., president of and chief executive officer of the company, are seen at the annual Saputo meeting in Laval, in 2009. Lino himself took charge of . Giuseppe Saputo, an Italian cheesemaker, immigrated with his family to Montreal in the 1950s. Yes, its also a lonely position, just like sometimes when youre a CEO it is a lonely position. Charles Sirois bought out his fathers business in 1978 and that was the beginning of his empire. 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. A total of 40,000 shares of the [] Create an account or sign in to continue with your reading experience. First international inductee, Joey Saputo is a Canadian businessman and President of the Montreal Impact soccer team, which he founded in 1993. His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. 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. 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. Lino Saputo took over the family firm from his father in 1969, and began to expand the business. Despite a dicey year punctuated with uncertainty around NAFTA renegotiations, the Saputo family business appears to be doing just fine. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. Lalibert was inspired by a childhood visit to the Ringling Brothers Circus. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. document.write(new Date().getFullYear()) Saputo Inc. All right reserved. Photo by Graham Hughes/The Canadian Press files. 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. Up until 2019, Paul Jr. and Andr remained in charge of Power Corporation. 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.. The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. 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. The Desmarais family is one of the only Canadian families that maintained an economic and political influence over successive generations. 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. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. New to Canada? The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. 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. 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. In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. extended shelf-life milk and cream products, cultured products and He went from building duplexes to building skyscrapers and massive malls, many in Israel, to create a billion-dollar fortune. AT SAPUTO, YOU WILL. Its stock soared for most of last year, climbing more than 50% and taking the family fortune to new heights. In 1954, his son Lino convinced him to start a business. At Saputo, our best comes from our people. Factory on St-Michel street in Montreal. 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. The real estate mogul and philanthropist died at the age of 80 on. Thanks for contributing to The Canadian Encyclopedia. It became Canada's largest producer of mozzarella in the 1980s. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. Founded: 1954. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. History Of CF Montreal: Founded In 1992. By 1981, the company secured their first acquisition outside Quebec, a cheese plant The 2000s took the company into the US market with the acquisition of Circle-K convenience stores. 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",},]}. Jarislowsky also served in the US armed forces before moving to Montreal to work for Alcan. 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. The company went on to provide services to countries around the world, in 150 different currencies. 11. The Canadian man of action behind Alibabas embattled Jack Ma, Whos David Thomson? 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. You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. Although Pierre Karl Pladeau was heavily involved in the business early on, he took on a greater role after the death of his father 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. By moving to Montreal, the family followed a well-established Saputo. Completed over 30 acquisitions since becoming a publicly traded company. Here are the top 11 richest people in Montreal: Via Atlas Media. 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. Lino is an enthusiastic car collector, particularly of vintage Cadillacs and other classic cars. "I invite them to come and. In 2003, Saputo acquired Molfino Hermanos S.A., Argentinas third largest milk processor. Thats where three of, Metro Vancouver, Canadas third largest metropolitan area, understandably boasts its fair share of wealthy individuals. Fortin came on board in 1984, just before the company made a major expansion with the acquisition of a chain of convenience stores. He would be Lino's inspiration and motivation to start his own company. 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. First and foremost, its through the due diligence process that we recognize how important it is to integrate effectively. 2. One of the top 10 dairy processors in the world, with products sold in over 50 countries. 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. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. Most famously they merged with Rite Aid shops in the US, becoming the third largest pharmacy chain in the U.S. Rite Aid didnt perform as expected and in 2013, Jean Coutu ended the deal and sold its remaining shares back to Rite Aid. Reviews and recommendations are unbiased and products are independently selected. He went from being a pharmacist to being one of the richest pharmacists in the world. Saputo, the son of an immigrant cheesemaker, had become a billionaire, philanthropist, and head of Quebecs richest family. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. 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. The Saputo family was reportedly unaware Bonanno was a Mafia boss It was Power Corporations foray into insurance and financial services that made it one of Canadas largest companies. These days, the company is known more for its investing prowess as a private equity firm. The Rossy Family gave the country a discount store called Dollarama. Aldo Bensadoun. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. 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. Jarislowsky has sat on the boards of some of the worlds largest and most influential companies like SNC Lavalin and Swiss Bank Corp. Selected Morningstar National Bank Qubec companies of, Learn how and when to remove this template message, Warrnambool Cheese & Butter Factory Company Holdings Limited, List of dairy product companies in the United States, "Shareholder Reports | Investors | Saputo", "Saputo bailing out of European cheese market", "Twinkie's last stand: It's up to a mediator", "Cercle des Grands entrepreneurs du Qubec", "Saputo Inc. spends $407million for Dairyworld Foods", "Saputo acquires George Weston's Neilson dairy", "Saputo buys U.S. dairy company Morningstar for $1.5-billion", "Scotsburn sells off its fluid milk business to Saputo", "Saputo Announces Takeover Offer for Warrnambool Has Closed", "Mexico's Grupo Bimbo acquires Saputo Bakery", "Saputo Completes the Acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States", "Saputo buys another Wisconsin cheese manufacturer", "Cathedral City firm to be bought for 975m", "Dairy Crest deal set to net boss Mark Allen 4.8million", "Canadian dairy giant Saputo enters U.K. market with $1.7B deal for Dairy Crest", "Saputo completes acquisition of Dairy Crest", "SAPUTO INC.: Shareholders Board Members Managers and Company Profile | CA8029121057 | MarketScreener", "Corporate Information | Investors | Saputo", "Armstrong Pizza Mozzarella Cheese made by Saputo", "Cathedral City maker Dairy Crest to be bought by Saputo", "Warrnambool owner Saputo flags fresh dairy pain", "Saputo poised to take total control of Warrnambool Cheese & Butter", "HEALTH HAZARD ALERT - DAIRYLAND brand 1% chocolate milk may contain a chemical sanitizer", "Saputo reaches deal to acquire Australian dairy firm for $1.29billion - BNN Bloomberg", "Inside Friendship Dairies' Social Media Startup Strategy", "Frigo Cheese Heads Now Available in Bold New Flavors", "Saputo launches ultra-filtered milk brand Joyya in Canada", "Saputo to buy Argentine dairy processor", "Saputo enters sports recovery arena with high-protein Milk2Go extension", "Saputo completes acquisition of Montchevre Goat Cheese", "Saputo acquires activities of Murray Goulburn in Australia", "Neilson chocolate milk recalled due to listeria concerns", "Saputo repositions Nutrilait milk brand for a messy life", "Salemville Cheese Co-op creates market for Amish farmers' milk", "Workers 'in shock' over Sydney dairy closure", "Saputo beefs up non-dairy cheese and value-added ingredients with 2 acquisitions | Globalnews.ca", "Saputo Completes the Acquisition of the Specialty Cheese Business of Lion Dairy & Drinks Pty Ltd in Australia", "Saputo launches fresh mozzarella products under Stella brand", "Saputo, Chunk Feta Cheese - Treasure Cave", "Saputo buys goat cheesemaker Woolwich Dairy", "Saputo to acquire UK's cheese maker Wensleydale Dairy Products", https://en.wikipedia.org/w/index.php?title=Saputo_Inc.&oldid=1130179942, Companies listed on the Toronto Stock Exchange, Food and drink companies established in 1954, Manufacturing companies based in Montreal, Articles lacking reliable references from June 2017, Articles with unsourced statements from February 2022, Articles with unsourced statements from June 2017, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Canada, United States, Argentina, Australia, United Kingdom, The Caisse de dpt et placement du Qubec, Revenues: 14,3 billion CAD as at March 31, 2021, Employees: Approximately 18 000 as at February 10, 2022, Facilities: 67 (18 in Canada, 29 in the US, 13 international and 7 in Europe as at March 31, 2021, This page was last edited on 29 December 2022, at 00:16. While Cirque du Soleil went bankrupt in 2020, his personal fortune was not impacted. Lino grew the company in the following decades,. [1][2], The company has expanded predominantly through mergers and acquisitions. 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. Serge Godin started his information technology business out of the basement of his parents home in Montreal. It all started with Selim Rassy who immigrated to Canada from Lebanon in 1910. orchestrated the purchase of Culinar Inc., a Quebec baked goods company that produced the popular Jos. He went on to expand his media and printing empire in Quebec. 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. 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. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. [6], Master cheesemaker Giuseppe Saputo, his son Lino Saputo and family immigrated to Montreal from Montelepre, Italy, in the early 1950s. Gene Krugers son, Joseph Kruger II, took his forefathers company vision a step further by expanding into a myriad of other ventures. The Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. We're a talented and caring team with a longstanding history of excellence. Whether you drink beer or not, youve likely heard of Molson. 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. Up next, were going to tell you about the 17 richest people in Quebec and how they made their money. 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. [1] Early life [ edit] 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. 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). According to Canadian Business, the Rossy family is worth $2.52 billion. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Im mindful of that every single day so I dont take anything for granted at all. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. 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 next issue of Financial Post Top Stories will soon be in your inbox. The company further benefited from the increasing popularity of pizza during the 1960s, since it meant growing demand for mozzarella. That wealth stems from print media, beer, convenience stores and more. Technical storage or access that is used exclusively for anonymous statistical purposes. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. ?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. Biden said he believes his plan to forgive millions of borrowers student loans is on the right side of the law, a day after the courts conservative majority seemed highly skeptical of the Bidens Administrations argument for the debt relief program. 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. On this Wikipedia the language links are at the top of the page across from the article title. 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. + 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. , Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman with reading. 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