Thanks for contributing to The Canadian Encyclopedia. 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. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. Jarislowsky has sat on the boards of some of the worlds largest and most influential companies like SNC Lavalin and Swiss Bank Corp. Lino Saputo Jr., now described as the richest man in Quebec, has continued Saputo Inc.s regular diet of acquisitions, even buying companies focused on dairy alternatives, in an attempt to profit from the move by many consumers to non-dairy products. Some notable donations include $4 million for research into intellectual disabilities as well as a $3 million donation for research into cellular cancer treatment. When the round is over, eight cities will be disappointed, and some may . McConnell Building (LB) Mailing address. Before entering the sports world, Saputo began his business career in 1985 with Saputo Inc., a dairy processing company founded in 1954 by his father, Emanuele "Lino" Saputo. DiBella initially agreed to personally invest 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. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. . The Company has completed 36 acquisitions since it became publicly traded in 1997. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. in Cooksville, Ontario. The man whose first name hangs above the entrances of his world-famous shore store calls Montreal his home. 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. Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . The Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. Use the HARDBACON promo code to get $20 when you open a free KOHO account and make a purchase. Location: Montreal. [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. 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. He went on to expand his media and printing empire in Quebec. The Molson family never lost steam with their ventures and financed the first steamboat in the country as well as building the first railroad. 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. 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. Early Life and Establishment of Saputo Inc. She also studied religion and played a role as cantor to a synagogue in Quebec. 5.0 Job work-life balance Salary/Benefits Major company holdings: Saputo, Transforce Todays Wordle #621 Hint, Clues And Answer For Thursday, March 2nd, AEW Dynamite Results: Winners And Grades On March 1, 2023, What Brands Need To Know: Social Marketing In 2023, Teslas Investor Day Is Long On Time, Short On Useful New Details, Biden Not Confident Supreme Court Will Uphold Student Debt Cancellation, Celta Vigo Star Gabri Veiga Is Alerting Wealthy Teams In The Premier League, A Psychologist Offers Advice On How To Repair A Family Rift, 2022 Billionaires: Cities With The Most Billionaires, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Newcastle United are reportedly targeting the signing of FC Barcelona winger Raphinha this summer, as part of a 300 million ($319 million) spending spree. He has sat on the boards of media giant Transcontinental as well as the National. 2. Going from entreprenneur to banker, Desmarais made acquisitions in different sectors such as pulp and paper and media. 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. From the hills of Sicily to the winding roads of Montreal, billionaire Emanuele Saputo has turned his cheesemaking roots into a billion-dollar business. Nonetheless, the rumours may have been a factor in the Ontario Milk Commissions But the Montreal cheese magnate has also been dogged by allegations of. Fayers fintech innovation attracted the likes of Goldman Sachs as investors. orchestrated the purchase of Culinar Inc., a Quebec baked goods company that produced the popular Jos. Net worth: $2.03 billion. 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. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. He belongs to the dropout class of billionaires like Mark Zuckerberg and Bill Gates. Hardbacon 2023 Bacon Financial Technologies Inc. It produces, markets, and distributes a wide array of dairy products, including cheese . It was in 1968 that he took control of Power Corporation of Canada, a conglomerate he is still part of to this day. 100 votes, 33 comments. 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. 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. The company, long helmed by Lino Saputo, grew in large part through acquisition, including the 1988 purchase of two American cheese plants. Saputo produces, markets, and distributes a wide array of dairy Founded: 1954. According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). According to Canadian Business, the Molson family is worth $1.75 billion. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. Change in rank from 2017: 2 According to Forbes, Serge Godin is worth $2.20 billion USD ($2.66 billion CAD). Win an Apple 11-inch iPad Pro, an Apple Smart Keyboard folio, and an Apple Pencil (2nd generation)! 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. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. Founded in 1954 with $500 and a bicycle, Montreal-based Saputo Inc. has grown into one of the top 10 dairy processors in the world. 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. 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 storage or technical access is necessary for the purpose of legitimate interest to store preferences that are not requested by the subscriber or user. Joey Saputo's age is 58. Get up to $2,000 cashback + $50 signup bonus. Prequalify in 5 minutes or less! Photo by Graham Hughes/The Canadian Press files. The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. 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. The company went on to provide services to countries around the world, in 150 different currencies. One client turned into ten, and then 100, and a decade later they found themselves on the Toronto Stock Exchange raising funds to buy out smaller IT companies. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. [1][2], The company has expanded predominantly through mergers and acquisitions. 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. He would be Lino's inspiration and motivation to start his own company. Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. 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. Part of that success had to do with the fact that Jean Coutu didnt just sell pharmaceuticals, but rather low-priced items like school supplies, bathroom tissue, and other products that other pharmacies didnt carry. 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. As of 2019 Saputo was valued at $13.8 billion. Robert Miller founded his company in 1968 and grew it to the billion-dollar business it is today. But in theearly 1990s, the company started buying out pharmacies in the United States. 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. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. The landscape in Major League Soccer is changing. In those early years, young Lino Saputo delivered our handmade cheeses on a bicycle. 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 . 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. In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. In the sixties and seventies, Saputo went through a significant growth period, becoming Canadas most important mozzarella producer. The company remained entirely family held until its initial public offering in 1997. Lino Saputo is the son of a successful entrepreneur. 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. 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. Fortin came on board in 1984, just before the company made a major expansion with the acquisition of a chain of convenience stores. 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). At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. [7] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465million. 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. In 2001, Saputo Inc. expanded its national reach when it successfully acquired a Western Canadian collective of dairy We still work to uphold the Italian tradition of cheesemaking for modern . 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 company was renamed Telesystem and became Canadas largest wireless company in the 1980s thanks to its subsidiary National Pagette. Saputo Family Makes Visionary $10 Million Donation to Support First-of-its-kind Social Innovation Centre at Concordia University Transformational gift from Amelia & Lino Saputo Jr.. His son, Gene Kruger, took over the company in the 1920s and grew it by adding newsprint, tissue and cardboard to the list of things the familys company manufactured. The Rossy Family gave the country a discount store called Dollarama. That wealth has everything to do with his father, Pierre Pladeau Senior. They helped retailers, both online and offline, process credit and debit payments without the help of banks and credit card companies. Saputo Jr., who plays goalie,says he enjoys the hot seat becausethe puck stops with you., No matter how many mistakes the people in front of you make, if the pucks in the net, its on you. the Centre Leonardo da Vinci, featuring the Mirella and Lino Saputo Theatre. . 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. The Saputo family was reportedly unaware Bonanno was a Mafia boss Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. Despite its size and status as a publicly traded company, Saputo Inc. still treads heavily on its humble origin story. The Saputo Family is a Canadian family with strong Italian roots. Saputo Inc. was founded with $500 and a bicycle. Up until 2019, Paul Jr. and Andr remained in charge of Power Corporation. In 1997, it became a publicly traded company and tripled in size following the acquisition of Stella Foods in the US. 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. SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? behind him when he fought a revival of such allegations in 2007. Pierre Pladeau Sr. was studying law in university when he bought the first of many newspapers with the help of a loan from his mother. Exclusive to Hardbacon: get 15 extra chances! Linos interests also expanded beyond dairy. The Saputo family invested $7.5 million in the construction of the stadium and, as a result, the venue was named Saputo Stadium. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. Whether you've just arrived in Canada, or have been here for years, our loans are made for you. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. 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. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. In 1950, Lino's father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. As a result the stadium would carry the name Saputo. 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. 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",},]}. Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. 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. The family also has a stake in Major League Soccer's Montreal Impact. Today, it's one of the world's top dairy brands. Photo by Maria Laura Antonelli/ZUMA Press/Newscom. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. Emanuele Lino Saputo, CM, OQ, businessman, dairy and cheese industrialist, philanthropist (born 10 June 1937 in Montelepre, Italy). While Saputo Inc. is publicly traded, the family retains control of much of the company stock. 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. He is the founder of Future Electronics, one of the four largest electrical component suppliers in the world. And yet over 70 years Saputo Inc., started by a family of Italian immigrants, has grown swiftly into an international dairy behemoth. + What Are the Main Benefits of Refinancing Your Mortgage? In 1954, with only $500 for equipment and a bicycle for deliveries, the Saputo family founded their very own company bearing their name. 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. A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. His influence and family name is found throughout Montreal, Quebec, including on the Saputo Stadium, home of CF Montral a professional soccer team that plays in Major League Soccer (MLS).His family is routinely listed among the wealthiest Canadians, reaching number three in 2017. 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