A sign at a Montreal Saputo plant, pictured in 2014. He is famous for being a Sports Executive. But the Montreal cheese magnate has also been dogged by allegations of. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. Please try again. The Internship Program will begin on May 15th and end August 11th, 2023. As of 2019 Saputo was valued at $13.8 billion. He belongs to the dropout class of billionaires like Mark Zuckerberg and Bill Gates. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. Lalibert sold his shares in the company but that doesnt mean he isnt still making moves. Our story began in Canada in 1954, when the Saputo family's hard work and dedication created a thriving dairy business. 1957 Joey Saputo's age is 58. [19] The company was valued at C$1.7billion (975million). Today Couche-Tard stores can be found all over the world. 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. All Rights Reserved. The company was on the verge of bankruptcy but Paul Desmarais put it on solid footing and expanded it by buying other bus lines in Ontarion and Quebec. Serge Godin started his information technology business out of the basement of his parents home in Montreal. 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 . 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. [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). Emanuele (Lino) Saputo is an Italian-Canadian billionaire businessman who has an estimated net worth of $4.9 billion. Create an account or sign in to continue with your reading experience. 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. In 1979, Mirella and Lino launched a charitable foundation, the Fondation Mirella 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. Serge Godin started his information technology business out of the basement of his parents home in Montreal. Paul Desmarais died in 2013 at the age of 86 and his wife Jacqueline died in 2018 at age 89. Prior to partnering with Bouchard, Fortin earned a degree in finance and was president of Quebec-based investment firm Socit Gnrale S.A. Wealthsimple Invest is a simple and affordable way to invest your RRSP, RESP or TFSA. 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 . Although a lot of his fortune did end up tied to his philanthropic foundation, his children also got a piece of it. The Molson family never lost steam with their ventures and financed the first steamboat in the country as well as building the first railroad. The predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe. 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. The Saputo family likes to think big: The company is the largest cheese maker in Canada, third largest in both the U.S. and Argentina, and fourth in Australia. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. 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. Saputo invested $40 million to get Montreal into MLS. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. 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. + How to Apply for a Business Credit Card (and Get Approved), + Best Credit Cards to Rebuild your Credit, + Everything you need to know about your credit score in Canada, + Tips to improve your credit rating in Canada, + What is a Credit Score? 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. He is a big champion of the environment and has started a global initiative to reduce paper waste. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. 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). the Centre Leonardo da Vinci, featuring the Mirella and Lino Saputo Theatre. The company, long helmed by Lino Saputo, grew in large part through acquisition, including the 1988 purchase of two American cheese plants. I love that pressure and I love that responsibility, he told the Post. As a result the stadium would carry the name Saputo. 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. The business quickly benefited from steady demand from fellow Italian immigrants, who longed for the products of home. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. According to Canadian Business, the Molson family is worth $1.75 billion. Its stock soared for most of last year, climbing more than 50% and taking the family fortune to new heights. Charles Sirois bought out his fathers business in 1978 and that was the beginning of his empire. The couple also contributed to the foundation of an Italian Canadian community centre in Montreal, Lino considered his successful ten-year period with National Bank a vindication of the earlier allegations of family ties to Sicilian Mafia members, and Brard stood Biden said he believes his plan to forgive millions of borrowers student loans is on the right side of the law, a day after the courts conservative majority seemed highly skeptical of the Bidens Administrations argument for the debt relief program. [6], Learn how and when to remove this template message, "Forbes profile: Emanuele (Lino) Saputo & family", "Quebec dairy mogul Lino Saputo had secret past dealings with U.S. mobster Joe Bonanno, then lied about it", "Notable Canadian companies, individuals in the Paradise Papers", "Canada's Richest People: The Saputo Family", "Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr", https://en.wikipedia.org/w/index.php?title=Lino_Saputo&oldid=1120973894, This page was last edited on 9 November 2022, at 20:52. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. 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. First and foremost, its through the due diligence process that we recognize how important it is to integrate effectively. 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. [citation needed], In 2003, the firm continued to acquire businesses in the US and expanded into Argentina with the acquisition of Molfino Hermanos S.A.[10] That same year, while remaining chairman of the board Lino Saputo stepped down as president and CEO and was succeeded in this role by his son, Lino A. 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. The billionaires father, Simon Sirois, created Setelco in the 1970s. 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. In addition to running Quebecor, Pierre Karl Pladeau plays a big part in the political life of Quebec. Comments may take up to an hour for moderation before appearing on the site. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. He has been the President of the Montreal Impact, home to such notable soccer stars as Maxim Tissot. Family Business Saputo sisters forged their own path Patricia and Danielle Saputo, of the family behind Montreal-based dairy processor Saputo Inc., knew early on they wouldn't take on leadership roles in the family business Natalya Anderson Financial Post Published Dec 29, 2022 Last updated Jan 03, 2023 10 minute read 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. AT SAPUTO, YOU WILL. They helped retailers, both online and offline, process credit and debit payments without the help of banks and, In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. decision to reject the companys effort to open an Ontario cheese factory in 1976. equipment and a delivery bike to support his parents, who made cheese in a rented room in the Delca Cheese factory on Rue de Rouen. SpaceX Rocket Launches Crew Of Four To International Space Station, Newcastle United Target FC Barcelona Raphinha Signing In $320 Million Spending Spree - Reports, Philippine Tycoon Edgar Saavedras Megawide To Build $300 Million Data Center In Digital Pivot. Get up to $2,000 cashback + $50 signup bonus. Youre going to detect a bit of a pattern on this rich list and maybe thatll help you find your own key to success. 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. This advertisement has not loaded yet, but your article continues below. [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. Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. Lino grew the company in the following decades,. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. While Cirque du Soleil went bankrupt in 2020, his personal fortune was not impacted. According to Canadian Business, the Rossy family is worth $2.52 billion. [9] Agrifoods International was itself the result of a series of mergers between dairy cooperatives in Western Canada in the 1990s. His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. Jean Coutu is worth $2.80 billion USD ($3.39 billion CAD) according to Forbes. Saputo quickly established itself in Montral's Italian community. 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). Some notable donations include $4 million for research into intellectual disabilities as well as a $3 million donation for research into cellular cancer treatment. 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". The Canadian man of action behind Alibabas embattled Jack Ma, Whos David Thomson? Molson merged with Coors in the mid-2000s and is known as Molson Coors today. But in theearly 1990s, the company started buying out pharmacies in the United States. Giuseppe Saputo, an Italian cheesemaker, immigrated with his family to Montreal in the 1950s. 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 ). Fortins business prowess has been widely demanded. His son Andr married the France Chrtien, the daughter of former Canadian Prime Minister Jean-Chrtien. 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. The Rossy Family gave the country a discount store called Dollarama. Net worth: $2.03 billion. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. First international inductee, Joey Saputo is a Canadian businessman and President of the Montreal Impact soccer team, which he founded in 1993. Lino Saputo emerged from modest beginnings to develop one of the most prominent dairy companies in Canada Saputo He continued as CEO of the firm, but appointed Camillo Lisio, then executive vice-president, as chief operating officer in 1998. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. These people have gained wealth that most of us can, When Canadians strike it rich and head to Europe, its clear that the prime destination is Geneva, Switzerland. In 2017, the company was sold to a private equity firm for just over $400 million with Fayer staying on as CEO. The man whose first name hangs above the entrances of his world-famous shore store calls Montreal his home. 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 further benefited from the increasing popularity of pizza during the 1960s, since it meant growing demand for mozzarella. 2023 Forbes Media LLC. He is the founder of the Canadian cheese manufacturer Saputo Inc. Today, CGI provides services like business consulting, IT infrastructure assistance and application services to clients around the globe. 1445 De . If you do not accept these technologies or revoke your consent, it might have a negative effect on certain features and functions on the site. Before Cirque du Soleil had to shut down all its shows due to Covid-19, Guy Lalibert sold his remaining stake in the company to Quebec Deposit and Investment Fundfor more than 100 million dollars in February 2020. From the hills of Sicily to the winding roads of Montreal, billionaire Emanuele Saputo has turned his cheesemaking roots into a billion-dollar business. The crew of four comprises two NASA astronauts, a Russian cosmonaut and an astronaut from the UAE. [7] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465million. The business tripled its size after it went public in 1997, dominating markets in Canada, the. He is one of the lesser-known founders of Laval-based convenience store chain Alimentation Couche-Tard, Jacques DAmours is worth $2.10 billion USD ($2.54 billion CAD) according to Forbes. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. If you are a Home delivery print subscriber, unlimited online access is. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. Photo by Graham Hughes/The Canadian Press files. While Saputo Inc. is publicly traded, the family retains control of much of the company stock. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. 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. 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 went on to work for the Provi-Soir convenience store chain. 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