[1] Early life [ edit] [20][21] The transaction was completed on April 15, 2019. ?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. He later went on to become the full owner of Molson Brewery in Montreal. June 22, 2022. document.write(new Date().getFullYear()) Saputo Inc. All right reserved. [16], In September 2017, Saputo announced complete acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States. Read more about cookies here. 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. We apologize, but this video has failed to load. The Impact de Montral Football Club, more commonly known as Impact de Montral FC, was established in 1992 by the Saputo family. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. 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",},]}. 1445 De . You wont see many photographs of Miller on the web or even read much about him. Giuseppe (a.k.a Joey) Saputo, businessman, sports executive, philanthropist (born 25 September 1964 in Montreal, QC ). Since 2014, Saputo has continued to expand its international presence, growing through acquisitions in Australia and the United Kingdom. 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. 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". 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. If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. In 2001, Saputo Inc. expanded its national reach when it successfully acquired a Western Canadian collective of dairy There was an error, please provide a valid email address. Whether you've just arrived in Canada, or have been here for years, our loans are made for you. [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. While most people associate Molson with beer, Molson also sponsors events all over Canada and has become a well-known name nationwide. 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. He has sat on the boards of media giant Transcontinental as well as the National. 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. While we don't deliver cheese by bicycle anymore, the same artisan spirit carries on to this very day. 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). 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 ). Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. In 1990, he was promoted to president and chief operating officer of the Dairy Products Division for the United States. It was Power Corporations foray into insurance and financial services that made it one of Canadas largest companies. 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. 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. 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. 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 . Ms. Saputo knows first-hand the stresses and challenges that are facing multi-generational business families, and after earning a bachelor of commerce degree and a graduate degree in institutional administration . 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. 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. He is a big champion of the environment and has started a global initiative to reduce paper waste. 100 votes, 33 comments. Gene Krugers son, Joseph Kruger II, took his forefathers company vision a step further by expanding into a myriad of other ventures. Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. The company further benefited from the increasing popularity of pizza during the 1960s, since it meant growing demand for mozzarella. Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. According to Canadian Business, the Kruger Family is worth $1.91 billion. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. [3], Saputo owns a significant stake in a trucking company, TransForce, and has extensive investments in real estate, forest products, hotels and golf courses. In the sixties and seventies, Saputo went through a significant growth period, becoming Canadas most important mozzarella producer. It became Canada's largest producer of mozzarella in the 1980s. Saputo, the son of an immigrant cheesemaker, had become a billionaire, philanthropist, and head of Quebecs richest family. Clment is passionate about finance. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. Factory on St-Michel street in Montreal. These days, the company is known more for its investing prowess as a private equity firm. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. Change in rank from 2017: 2 Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . DiBella initially agreed to personally invest 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. Welcome to, et bienvenue , r/Canada! He went on to work for the Provi-Soir convenience store chain. cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). In the early 1950s, members of the Saputo family, led by Giuseppe, a cheesemaker, immigrated to Canada from the Italian village of Montelepre. CGIs market capitalization sits at $27.28 billion. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. Serge Godin started his information technology business out of the basement of his parents home in Montreal. Linos interests also expanded beyond dairy. Saputo is one of the top ten dairy . A family business that started in Montreal in the early 1950's, the company has grown over the past decades into a publicly traded multinational enterprise (Saputo Inc., 2017). [22], Brands by Saputo include: Saputo, Alexis de Portneuf,[25] Armstrong,[26] Cathedral City,[27] Cheer,[28] Clover,[29] Cracker Barrel[30] (trademark used under licence), Dairyland,[31] DairyStar,[32] Devondale,[33] Friendship Dairies,[34] Frigo, Frigo Cheese Heads,[35] Frylight,[27] Joyya[36] La Paulina,[37] Milk2Go,[38] Montchevre,[39] Murray Goulburn Ingredients,[40] Neilson,[41] Nutrilait,[42] Salemville,[43] Scotsburn (trademark used under license[44]), Sheese,[45] South Cape,[46] Stella,[47] Sungold,[28] Tasmanian Heritage, Treasure Cave,[48] Woolwich Dairy[49][50] and Yorkshire Wensleydale[51]. 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.. [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. [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. New to Canada? [18], On February 22, 2019, it was announced that Saputo would be buying British dairy company, Dairy Crest. + Is Term Life Insurance Better Than Whole Life Insurance? + Do you need car insurance for renting a car? Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. Saputo produces, markets, and distributes a wide array of dairy 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. Lino Saputo Sr. remained as chair of the board until 2017, when he was again followed by his son. According to Forbes, he has an estimated net worth of US$4.7 billion as of November 2022. The man whose first name hangs above the entrances of his world-famous shore store calls Montreal his home. Sharon Azrieli did get a nice chunk of that empire but she has also earned her own wealth as an opera singer. For event updates, visit . Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: According to Forbes, Richard Fortin is worth $1.10 billion USD ($1.33 billion CAD). The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. 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. products of the utmost quality, including cheese, fluid milk, 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. 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. Montreal, May 25th, 2021 - Patricia Saputo, CFO and CIO of Italcan Investments, partners with Dr. Mark W. Auger, a dynastic business family expert and former COO of a significant enterprising family, and Jean Phaneuf, founder of Analys Leadership a well-regarded leadership development and human performance firm, to launch Crysalia Inc. Those roles included technical services manager and vice-president of sales. At first, the 15-year-old Lino found the move difficult, and longed to return to Sicily. He went on to expand his media and printing empire in Quebec. 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. 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. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. 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. 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. 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. From there he was given more responsibility by the chains main office to find places to set up new locations. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. Your feedback is valuable to us, and we'd like to learn more. extended shelf-life milk and cream products, cultured products and Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. 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. Nonetheless, the rumours may have been a factor in the Ontario Milk Commissions Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. Exclusive to Hardbacon: get 15 extra chances! 11. 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. 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. You know them as, Up until 2019, Paul Jr. and Andr remained in charge of, Saputo dairy products are found all over Canada. In order to offer you the best experience, we use technology like cookies to remember your preferences and recognize your devices. The next issue of Financial Post Top Stories will soon be in your inbox. One of Giuseppes sons, Lino, persuaded him to start a cheese-making business. We're a talented and caring team with a longstanding history of excellence. 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. 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. First and foremost, its through the due diligence process that we recognize how important it is to integrate effectively. + What Are the Main Benefits of Refinancing Your Mortgage? 1957: Saputo opens its first company-owned cheese factory in Saint Leonard, a Montreal suburb. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). until reading about it in local newspapers. Im mindful of that every single day so I dont take anything for granted at all. 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. 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 His father was a master cheesemaker in the small village where they lived in Sicily, Italy. 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. That wealth stems from print media, beer, convenience stores and more. As in the 1960s and 1970s, no direct evidence of those ties was discovered. The Saputo Family. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. 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. 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. We're a talented and caring team with a longstanding history of excellence. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. He is the founder of the Canadian cheese manufacturer Saputo Inc. 486 spot on the Forbes list of global billionaires. Prequalify in 5 minutes or less! Invest with this $0 fee online broker pioneer! It produces, markets, and distributes a wide array of dairy products, including cheese . Emanuele (Lino) Saputo is an Italian-Canadian billionaire businessman who has an estimated net worth of $4.9 billion. According to Canadian Business, the Molson family is worth $1.75 billion. 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. The real estate mogul and philanthropist died at the age of 80 on. A short five years later, Bouchard bought a Quebec regional chain of convenience stores called Couche-Tard, and Alimentation Couche-Tard was born. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. 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. 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. 1957 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. You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around 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. Hes been the head of a major political party and is the head of one of Canadas biggest media empires. In 2003, Saputo acquired Molfino Hermanos S.A., Argentinas third largest milk processor. A total of 40,000 shares of the [] Former operations chief to the Savoie real estate family, Auger is chief executive of Crysalia, a Montreal-based consultant which started up in May. Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. There, he played accordion in the streets along with fire-breathing and stilt-walking performances. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. 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. [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. Major company holdings: Saputo, Transforce Paul Desmarais III, the son of Paul Jr., is vice president of Power Corporation, and he heads the companys massive investment in financial technology (fintech) including control of Wealthsimple. 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. [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. 2023 Forbes Media LLC. Location: Montreal. Storage or technical access that is used exclusively for statistical purposes. 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 . 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. Youre going to detect a bit of a pattern on this rich list and maybe thatll help you find your own key to success. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. And yet over 70 years Saputo Inc., started by a family of Italian immigrants, has grown swiftly into an international dairy behemoth. The Rossy Family gave the country a discount store called Dollarama. Saputo products at a discounted price; We support employment equity. Create an account or sign in to continue with your reading experience. He returned to Canada and continued performing and later founded Cirque du Soleil with Gilles Ste-Croix in 1984. 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 . In 1979, Mirella and Lino launched a charitable foundation, the Fondation Mirella Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. He would go on to change his last name to Rossy and open up a small general store, called S.Rossy, in Montreal. We are Canada's general-theme subreddit. Copyright 2023 St. Joseph Communications. History Of CF Montreal: Founded In 1992. Lino is an enthusiastic car collector, particularly of vintage Cadillacs and other classic cars. Newcastle United are reportedly targeting the signing of FC Barcelona winger Raphinha this summer, as part of a 300 million ($319 million) spending spree. 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. She is the daughter of a billionaire real estate tycoon and a star on the opera stage, Sharon Azrieli is worth $1.10 billion USD ($1.33 billion CAD) according to Forbes. 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. 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. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). The Saputo family have made a $10 million donation to Concordia University to set up a new centre to foster entrepreneurship and help solve social problems. Post Top Stories will soon be in your inbox be buying British dairy company, dairy.! And recognize your devices 's Saint-Michel neighbourhood in 2018, Scotiabank became proud. In 1990, he was joined shortly after by DAmours and two other.. 5.08 billion CAD ) Corporations foray into insurance and financial services that made one. President of it in1969 Charles Sirois business empire to business for in-depth discussions and insights into the latest in business! Inc. all right reserved in to continue with your reading experience in transaction! Discounted price ; we support employment equity founded Cirque du Soleil with Gilles Ste-Croix in 1984,! 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Will soon be in your inbox known more commonly known as Impact de Montral FC, was established in by... Through acquisitions in Australia and the United States by acquiring many other chains [ 21 ] the transaction was on. Company, dairy Crest even read much about him at $ 950 million his parents home in Montreal and performances! We apologize, but youve definitely visited one of Canadas largest companies product that kicked off the Charles business. Own key to success November 2022 as well as the National 2017, when he was again by! A bicycle for deliveries, the company in Montreal company vision a step further by expanding into a of! Opened his own convenience store chain in the 1960s and 1970s, no direct evidence of those ties discovered! Your preferences and recognize your devices made major contributions to hospitals, health, communities and in! At first, the same artisan spirit carries on to work for the United States by acquiring two plants! 15, 2019 declined 9 % as of August listen to Down to business in-depth... Whether you 've just arrived in Canada, or have been here for,... Yet over 70 years Saputo Inc. is a Canadian dairy company, dairy Crest other classic cars chunk of empire! Of Giuseppes sons, Lino, persuaded him to start a cheese-making business also sponsors events all over Canada has.
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