[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. Alimentation Couche-Tard has a market capitalization of $48.69 billion on the TSX. Youre going to detect a bit of a pattern on this rich list and maybe thatll help you find your own key to success. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. tasting the product daily. 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. 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. . 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. 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. 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. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. Businessman Lino Saputo turned his family's humble cheesemaking business into a multibillion-dollar global dairy empire. 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. Despite the tumultuousness of his earlier years, he quickly established a building company in Montreal. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. For event updates, visit . Storage or technical access that is used exclusively for statistical purposes. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. Read more about cookies here. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. From there he was given more responsibility by the chains main office to find places to set up new locations. Win an Apple 11-inch iPad Pro, an Apple Smart Keyboard folio, and an Apple Pencil (2nd generation)! In 2001, Saputo Inc. expanded its national reach when it successfully acquired a Western Canadian collective of dairy 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. 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. Postmedia may earn an affiliate commission from purchases made through links on this page. 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. Fido was a hit and Rogers Wireless bought the company in 2004 for $1.4 billion dollars. While most people associate Molson with beer, Molson also sponsors events all over Canada and has become a well-known name nationwide. Between the two of them, and with the help of a single phone, they started drumming up business for their company. It was in 1968 that he took control of Power Corporation of Canada, a conglomerate he is still part of to this day. 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. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. Major company holdings: Saputo, Transforce + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? The family has also made significant donations to various organizations, such as $10 million to Concordia University. A total of 40,000 shares of the [] [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. I can confidently say that I have surpassed nearly all my dreams, he said in January 2020. Unauthorized distribution, transmission or republication strictly prohibited. Lino Saputo is the son of a successful entrepreneur. Montreal, QC H3G 1M8 J.W. 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. In those early years, young Lino Saputo delivered our handmade cheeses on a bicycle. 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. [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. Stade Saputo got built in 2007 to serve as the new home of the Montreal Impact, who were back then still playing in the NASL. Get 20% off your annual subscription! 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. Sharon Azrieli did get a nice chunk of that empire but she has also earned her own wealth as an opera singer. + The Ultimate Guide to Life Insurance Medical Exams. SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. Saputo dairy products are found all over Canada. 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. Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. 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. There was an error, please provide a valid email address. His son Lino Saputo Jr. was named "Canada's Outstanding CEO of the Year" for 2019 by the Financial Post. He and his wife are known to have endowed numerous university chairs for everything from economics to religion. Lino is an enthusiastic car collector, particularly of vintage Cadillacs and other classic cars. We still work to uphold the Italian tradition of cheesemaking for modern . Shortly . The Saputo family has a long history of meaningful philanthropy, beginning with Lino and Mirella who co-founded their foundation in 1979. Today, CGI provides services like business consulting, IT infrastructure assistance and application services to clients around the globe. 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 ). 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. 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. 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. There are quite a few different things that billionaires can teach us. Quebecor was formed one year after Pierre Pladeau Sr. started Le Journal de Montral. The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. He has sat on the boards of media giant Transcontinental as well as the National Bank of Canada. One of Giuseppes sons, Lino, persuaded him to start a cheese-making business. It was Power Corporations foray into insurance and financial services that made it one of Canadas largest companies. They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. Going from entreprenneur to banker, Desmarais made acquisitions in different sectors such as pulp and paper and media. 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. Hes been the head of a major political party and is the head of one of Canadas biggest media empires. You wont see many photographs of Miller on the web or even read much about him. 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. I can confidently say that I have surpassed nearly all my dreams. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. 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. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. 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 company went on to provide services to countries around the world, in 150 different currencies. [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. extended shelf-life milk and cream products, cultured products and 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. Its never too late to rebuild burnt bridges, especially with a member of your family. 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. Theyre behind that green and yellow sign you see everywhere in Canada. 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. His son, George Rossy, took over in the 1930s and expanded the stores all over Quebec. the Centre Leonardo da Vinci, featuring the Mirella and Lino Saputo Theatre. Fortins business prowess has been widely demanded. 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. 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. 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. 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. At first, the 15-year-old Lino found the move difficult, and longed to return to Sicily. He has sat on the boards of media giant Transcontinental as well as the National. 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. Despite its size and status as a publicly traded company, Saputo Inc. still treads heavily on its humble origin story. Emanuele Lino Saputo, CM, OQ, businessman, dairy and cheese industrialist, philanthropist (born 10 June 1937 in Montelepre, Italy). Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. SAPUTO. 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. of the context of a raid on the companys factory by Montral police in 1972, eventually leading to a total of $350 in fines for health violations but no proven connections. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. Although a lot of his fortune did end up tied to his philanthropic foundation, his children also got a piece of it. The Company completed its initial public offering in Canada in 1997. Dollarama, which went public in 2009 under the ticker DOL, now have a. ccording to Canadian Business, the Rossy family is worth $2.52 billion. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. [13] In February 2014, Saputo acquired a relevant interest of 87.920 percent of Victoria, Australia, dairy product firm Warrnambool Cheese & Butter Factory Company Holdings Limited shares. Saputo Foodservice Montreal Location 2365, chemin de la Cte-de-Liesse Saint-Laurent, QC H4N 2M7 Contact us: (514) 328-3605 foodservice@saputo.com Discover Saputo Foodservice in Montreal, Quebec Your dairy and cheese product supplier in Montreal [citation needed]. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. At Saputo, our best comes from our people. [3] A spokesperson said that "was justified for business reasons and not for fiscal considerations". Introduction Saputo Inc. is a North American dairy producer with a success story. Saputo Inc. was founded with $500 and a bicycle. Combined, Saputo Inc.s brands generate north of $14 billion in annual revenue. Saputo is one of the top ten dairy . While Saputo Inc. is publicly traded, the family retains control of much of the company stock. The Montreal-based dairy processor, behind popular products like Armstrong cheese, Scotsburn ice cream and Baxter, Neilson and Dairyland milk brands, said revenue was $4.6 billion, up 17.6 per . 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. Despite a dicey year punctuated with uncertainty around NAFTA renegotiations, the Saputo family business appears to be doing just fine. DiBella initially agreed to personally invest The business quickly benefited from steady demand from fellow Italian immigrants, who longed for the products of home. 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. 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. 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? Emanuele "Lino" Saputo, CM OQ (Italian:[emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. While they retired from day-to-day operations, they still have seats on the Board of Directors and their respective sons have active roles in the company. In 1954, with only $500 for equipment and a bicycle for deliveries, the Saputo family founded their very own company bearing their name. New to Canada? He went on to work for the Provi-Soir convenience store chain. 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 . Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. In 2001, Lino Saputo resumed direct leadership over the company when Lisio resigned. Debts Repayment Calculator (Avalanche Method), 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. His son Andr married the France Chrtien, the daughter of former Canadian Prime Minister Jean-Chrtien. In 1950, Lino's father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Clment is passionate about finance. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. In 1999, the company Interest in the skilful, highly technical Spanish midfielder will only increase after a surge in form. The company was renamed Telesystem and became Canadas largest wireless company in the 1980s thanks to its subsidiary National Pagette. How large is the Montreal Impact's venue? Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. 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. Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. Finally, in 2004, Lino Saputo Sr. resigned as CEO, completing a long-anticipated Hardbacon 2023 Bacon Financial Technologies Inc. At Saputo, our best comes from our people. Saputo products at a discounted price; We support employment equity. Company Description: Saputo produces markets and distributes a wide variant of dairy products such as cheese, fluid milk, extended shelf-life milk and dairy ingredients. Amelia Saputo and Lino Saputo Jr. react . Despite, Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. 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. 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. By 1989, he sat on the board of directors for a shipping firm, Cabano Expeditex (now TransForce), and for the National Bank of Canada. Future Electronics now has 168 locations around the world from Canada to China. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. Saputo 's first important production installation. He was born Emanuele Saputo on June 10, 1937 in Montelepre, Sicily, Italy but the family immigrated to Montreal, Quebec when he completed his secondary education in the early 1950s. Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. 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. We're a talented and caring team with a longstanding history of excellence. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. 1957 in Saputos operations, but then connected the Saputo family to Joseph Bonanno, a New York-based mobster. We ask you to keep your comments relevant and respectful. Telesystem sold a lot of its cellular assets at the beginning of the 2000s. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. 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. But since an abrupt drop in November 2016, when reports emerged that the company was issuing new shares at a below-market valuation, the company has struggled to rebound. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. 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 . But the Montreal cheese magnate has also been dogged by allegations of. Company - Public (SAP) Industry: Food & Beverage Manufacturing. 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. decision to reject the companys effort to open an Ontario cheese factory in 1976. The company, long helmed by Lino Saputo, grew in large part through acquisition, including the 1988 purchase of two American cheese plants. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. In order to offer you the best experience, we use technology like cookies to remember your preferences and recognize your devices. Lino Saputo took over the family firm from his father in 1969, and began to expand the business. At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. Budgeto is the first easy-to-use, affordable and reliable online budgeting tool designed specifically for small and medium-sized businesses. [4][non-primary source needed] It operated in Wales and Germany from 2006 to 2013. She also studied religion and played a role as cantor to a synagogue in Quebec. As in the 1960s and 1970s, no direct evidence of those ties was discovered. If you are a Home delivery print subscriber, unlimited online access is. transition whereby one of his sons, Lino Saputo Jr., assumed the position. The Canadian man of action behind Alibabas embattled Jack Ma, Whos David Thomson? In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. 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. Although youre well supported with people around you, at the end of the day, youre responsible for the success and the failure of the organization.. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. He completed his secondary schooling in the early 1950s, and shortly thereafter, the Saputo family immigrated to Montreal, Quebec. until reading about it in local newspapers. He is a big champion of the environment and has started a global initiative to reduce paper waste. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. I love that pressure and I love that responsibility, he told the Post. products of the utmost quality, including cheese, fluid milk, Giuseppe (a.k.a Joey) Saputo, businessman, sports executive, philanthropist (born 25 September 1964 in Montreal, QC ). DAmours still sits on the Alimentation Couche-Tard board and is second only to Bouchard in the number of shares he holds in the company. The club was granted a franchise in the American Professional Soccer League (APSL), which was considered the highest level of professional soccer in North America at the time. Saputo has repeatedly denied those allegations, writing in his book Entrepreneur: Living our dreams: "We respected the law, kept our distance from criminal organizations, and avoided crossing the wrong people". He is responsible for communication at Hardbacon, and will entertain you with his articles about a wide variety of topics. Saputo invested $40 million to get Montreal into MLS. The Intern, Communications will be responsible for assisting in the development and deployment of internal and external communications strategies. Early Life and Establishment of Saputo Inc. While Cirque du Soleil went bankrupt in 2020, his personal fortune was not impacted. + Do you need car insurance for renting a car? Fido is still a household name in Canada. The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. 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. + Fixed vs Variable Rate Mortgages in Canada: What Are the Differences? The company expanded from that point until it went public in 1997. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. 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. 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. It all started when Paul Desmarais, a French Ontarian born in 1927, bought a little bus company from his father in 1951 for the symbolic sum of one dollar. The family also has a stake in Major League Soccer's Montreal Impact. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. ?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. The billionaires father, Simon Sirois, created Setelco in the 1970s. These days, the company is known more for its investing prowess as a private equity firm. 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. According to Forbes, Philip Fayer is worth $1.70 billion USD ($2.06 billion CAD). He continued as CEO of the firm, but appointed Camillo Lisio, then executive vice-president, as chief operating officer in 1998. If you don't see it, please check your junk folder. In addition to running Quebecor, Pierre Karl Pladeau plays a big part in the political life of Quebec. New PLATFORMS in AUSTRALIA and the UK $ 500 in startup capital and a bicycle the circuit... Big part in the 1970s best experience, we work hard to an. Between the two of them, and Nadia people in all of Canada saputo family montreal a cheesemaker, and Nadia publicly... Cadillacs and other classic cars too late to rebuild burnt bridges, especially with member! National Pagette a major player on the boards of media giant Transcontinental as well as the National New... 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