Saputo Inc. chief executive Lino Saputo Jr., speaks during the companys annual general meeting in Laval, Que., in 2019. This The Desmarais family is one of the only Canadian families that maintained an economic and political influence over successive generations. behind him when he fought a revival of such allegations in 2007. Emanuele (Lino) Saputo chaired his family's eponymous dairy company from 1969 until his August 2017 retirement. The company expanded from that point until it went public in 1997. 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. The billionaires father, Simon Sirois, created Setelco in the 1970s. Lino Saputo Jr. will accept the EY Family Business Award of Excellence on behalf of the Saputo family at the EY Quebec Entrepreneur Of The Year gala on October 20, 2016. 1957: Saputo opens its first company-owned cheese factory in Saint Leonard, a Montreal suburb. 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. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. + The Ultimate Guide to Life Insurance Medical Exams. He forged a close relationship with now former National Bank chairman Andr Brard. That wealth stems from print media, beer, convenience stores and more. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. . According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). 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. That wealth has everything to do with his father, Pierre Pladeau Senior. For event updates, visit . Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. [14] It acquired all the remaining shares in March 2017. The Saputo family's initial production was limited to just ten kilos (22 pounds) per day. The company went on to provide services to countries around the world, in 150 different currencies. The Saputo family owns hundreds of antique cars and oversees an automobile enthusiasts' club. Wealthsimple Invest is a simple and affordable way to invest your RRSP, RESP or TFSA. 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. 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. Technical storage or access that is used exclusively for anonymous statistical purposes. Joey Saputo is the son of Canadian billionaire Lino Saputo, the founder of Montreal-based Saputo Inc., one of the most prominent dairy companies in the world ( see also Diary Industry; Cheese and Cheese Making ). As of September, founder Emanuele (Lino) Saputo and his family had a net worth of US$5.5 billion, according to Forbes, placing the family in the No. 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. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. 10000+ Employees. Saputo products at a discounted price; We support employment equity. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. Signing up enhances your TCE experience with the ability to save items to your personal reading list, and access the interactive map. . At Saputo, our best comes from our people. He is the founder of the Canadian cheese manufacturer Saputo Inc. 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. Lino himself took charge of . Emanuele "Lino" Saputo, CM OQ (Italian:[emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. Joey Saputo is the son of Emanuele "Lino" Saputo, the founder and head of Saputo, a Canadian dairy products company that also markets a range of other items like spaghetti sauce. In 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. He is the founder of the Canadian cheese manufacturer Saputo Inc. 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. Your feedback is valuable to us, and we'd like to learn more. A total of 40,000 shares of the [] A short five years later, Bouchard bought a Quebec regional chain of convenience stores called Couche-Tard, and Alimentation Couche-Tard was born. Im mindful of that every single day so I dont take anything for granted at all. Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: Combined, Saputo Inc.s brands generate north of $14 billion in annual revenue. Couche-Tard, also known as Alimentation Couche-Tard, was founded by Alain Bouchard with a single convenience store in 1980. 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 $6.1 billion of 2021 revenue coming from the U.S., its largest geographic source of sales. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. + Is Term Life Insurance Better Than Whole Life Insurance? There was an error, please provide a valid email address. Each of our employees is committed to uphold our tradition of care, quality, and passion through food, and together, we . In that vein, all Future Electronics employees are required to undergo a minimum of 10 hours of training each month. The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. Saputo is now the world's eighth largest dairy producer and own Saputo Stadium and the Montreal Impact soccer team, as well as Italian club Bologna. Today, CGI provides services like business consulting, IT infrastructure assistance and application services to clients around the globe. Shortly . They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. The storage or technical access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. + Do you need car insurance for renting a car? The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. Pierre Karl Pladeau is a very rich man. Lino grew the company in the following decades, taking it public in 1997; today its products are sold in more than 40 countries. Sharon Azrieli did get a nice chunk of that empire but she has also earned her own wealth as an opera singer. We still work to uphold the Italian tradition of cheesemaking for modern . Copyright 2023 St. Joseph Communications. 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. 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. While most people associate Molson with beer, Molson also sponsors events all over Canada and has become a well-known name nationwide. 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. If you're willing, please share more information about your experience with us by emailing saputo@saputo.com. decision to reject the companys effort to open an Ontario cheese factory in 1976. 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. Exclusive to Hardbacon: get 15 extra chances! Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. 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. Founded: 1954. Molson merged with Coors in the mid-2000s and is known as Molson Coors today. 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. [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. If you don't see it, please check your junk folder. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. 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. Louis cakes, among other sweets. Montreal real estate owner Giuseppe Borsellino has died Guiseppe Borsellino with his wife Elina (sister of Lino Saputo). As of 2019 Saputo was valued at $13.8 billion. Each of our employees is committed to uphold our tradition of care . Immigrants are playing a major role on the list of the richest people in Quebec. The stadium was inaugurated in 2008 and built at a cost of $17 million. Functions will include working closely with various internal stakeholders from across the business. Reflects change since 5 pm ET of prior trading day. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? Hes a space tourist, a busker, and a very rich guy. Net worth: $2.03 billion. 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. Saputo, the son of an immigrant cheesemaker, had become a billionaire, philanthropist, and head of Quebecs richest family. Lino Saputo through the years | Montreal Gazette Local Business Business Lino Saputo through the years View All 15 Photos 1 of 15 A selection of photos of Saputo Inc. chairman and founder. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. He is the founder of Future Electronics, one of the four largest electrical component suppliers in the world. 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. Saputo Stadium, which opened in 2008, has a maximum seating capacity of 19,619 spectators. 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. 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. The Canadian man of action behind Alibabas embattled Jack Ma, Whos David Thomson? [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. According to Forbes, Stephen Jarislowsky is worth $1.80 billion USD ($2.18 billion CAD). Aldo first opened in the city in the 1970s and has now spread over three continents. [7], In 2001, Saputo acquired Dairyworld Foods, the production and marketing arm of Agrifoods International Cooperative Ltd, which included the Dairyland milk and Armstrong cheese brands, for C$407million. The family also has a stake in Major League Soccer's Montreal Impact. trend for Italians immigrating to Canada. 2023 Forbes Media LLC. One of Giuseppes sons, Lino, persuaded him to start a cheese-making business. 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. Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. Throughout this process, Lino remained firmly in charge of Saputos operations, reportedly He is a big champion of the environment and has started a global initiative to reduce paper waste. AT SAPUTO, YOU WILL. 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. If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. Saputo. The total value of the offer is $1,250! 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. 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 Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. There are quite a few different things that billionaires can teach us. But one thing we can say for sure is that hes still living the sweet life and taking care of business well into his seventies. He founded CGI in 1976 and was later joined by a co-founder. 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). With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. The company remained entirely family held until its initial public offering in 1997. Saputo quickly established itself in Montral's Italian community. The Saputo family was reportedly unaware Bonanno was a Mafia boss The Impact was the first Canadian club, and the . Joey Saputo's age is 58. Photo by Maria Laura Antonelli/ZUMA Press/Newscom. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. Early Life and Establishment of Saputo Inc. 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. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. The Saputo Family. 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. According to Canadian Business, Charles Sirois is worth $1.19 billion. He scraped together $500 in savings for 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. 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. By CB Staff 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. 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. 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. Thats where three of, Metro Vancouver, Canadas third largest metropolitan area, understandably boasts its fair share of wealthy individuals. 11. Victoria Wells: If employers insist on bringing people back, one day a week might be the 'sweet spot,' research suggests, Frind created PlentyOfFish in 2003 and built the website without any outside funding, allowing him to cash in on its sale to Match Group, The Dutil familys Placements CMI joined with Caisse de dpt et placement du Qubec (CDPQ) and the Fonds de solidarit FTQ for the purchase, Report from Spruce Point Capital casts Saputo as a bloated, aging cheese empire now in a 'decline and restructuring' phase, Pan and her husband run one of China's most well-known cleaning and hygiene products' empire, 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Although pulp and paper remain one of the biggest parts of the companys business, they have been innovating to create state of the art materials such as cutting edge cellulosic biomaterials. You know them as, Up until 2019, Paul Jr. and Andr remained in charge of, Saputo dairy products are found all over Canada. 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 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. [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. Philip Fayer was studying at Concordia University when he founded a payment processing company in 2003, with the help of co-founder Lester Hernandes. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. [19] The company was valued at C$1.7billion (975million). 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