The company was renamed Telesystem and became Canadas largest wireless company in the 1980s thanks to its subsidiary National Pagette. 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. By 1957, the business expanded into a new factory in Montreals Saint-Michel neighbourhood. [19] The company was valued at C$1.7billion (975million). 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. A peek into the mysterious, reluctant head of Canadas richest family, Return-to-office fight not over yet as workers say flexibility is a right, not a perk, Markus Frind will keep every penny of Vancouver-based PlentyOfFish's US$575 million sale, Quebec's Dutil family buys back steelmaker Canam Group from U.S. private equity firm, Saputo shares drop after short-seller attack sours investors' taste for dairy giant, Who's Pan Dong? [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. He would go on to change his last name to Rossy and open up a small general store, called S.Rossy, in Montreal. In 1964, Lino sought to convince his father to expand and modernize the company operations, particularly after touring the Grande Cheese Co. of Wisconsin, owned by a Sicilian American, Giovanni (John) DiBella. 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. He is the founder of Future Electronics, one of the four largest electrical component suppliers in the world. In the early 1950s, the Saputo family left their home town of Montelepre, Sicily, in order to start a new life in Canada. 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. In the current expansion round, the number of teams will rise from 24 to 28, with the entry fee now at $150 million, and a dozen cities have submitted concrete offers. 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. December 24, 2015, Rich 100 rank: #5 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. Emanuele "Lino" Saputo, CM OQ (Italian:[emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. 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 . He is the founder of the Canadian cheese manufacturer Saputo Inc. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. 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 In 2011, he was made an Officer of the National Order of Quebec. cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). Prequalify in 5 minutes or less! 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. 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. [citation needed] In August 2017, Lino Saputo Jr. assumed the role of chairman, and Saputo remains the majority shareholder of Saputo Inc.[1], Possible links to the Mafia have been raised in the past, more recently in January 2020 with Radio-Canada investigative program Enqute. The total value of the offer is $1,250! [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. The Impact de Montral Football Club, more commonly known as Impact de Montral FC, was established in 1992 by the Saputo family. Alain Bouchard went from living in a mobile home to becoming one of the richest people in all of Canada. 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. Although a lot of his fortune did end up tied to his philanthropic foundation, his children also got a piece of it. Net worth: $2.03 billion. + Is Term Life Insurance Better Than Whole Life Insurance? Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. 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. Alimentation Couche-Tard has a market capitalization of $48.69 billion on the TSX. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: According to Canadian Business, the Kruger Family is worth $1.91 billion. Amelia Saputo and Lino Saputo Jr. react . That wealth has everything to do with his father, Pierre Pladeau Senior. Comments may take up to an hour for moderation before appearing on the site. 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. You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. A total of 40,000 shares of the [] 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. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. As a result the stadium would carry the name Saputo. "The SHIFT Centre for Social Transformation will support tomorrow's social entrepreneurs to solve critical issues . Robert Miller founded his company in 1968 and grew it to the billion-dollar business it is today. The Saputo Family. All Rights Reserved. Quebecor was formed one year after Pierre Pladeau Sr. started Le Journal de Montral. 100 votes, 33 comments. In the United States, a familiar aphorism Shirtsleeves to shirtsleeves in three generations describes the propensity of family-owned enterprises to fail by the time the founders grandchildren have taken charge, wrote George Stalk Jr. and Henry Foley in the Harvard Business Review in 2012. Your feedback is valuable to us, and we'd like to learn more. He also provides transportation to company employees in an effort to get more cars off the road. . 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. 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. 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". Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. By moving to Montreal, the family followed a well-established Jarislowsky also served in the US armed forces before moving to Montreal to work for Alcan. Unauthorized distribution, transmission or republication strictly prohibited. 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. Saputo Inc. was founded with $500 and a bicycle. Despite its size and status as a publicly traded company, Saputo Inc. still treads heavily on its humble origin story. If you don't see it, please check your junk folder. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. You know them as Alimentation Couche-Tard. Montreal, QC H3G 1M8 J.W. The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. his ambitions drove him to encourage his parents to return to cheese making, which had been the family business in Sicily. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. According to Forbes, Emanuele Saputo is worth $5.70 billion USD ($6.9 billion CAD). In 1979, Mirella and Lino launched a charitable foundation, the Fondation Mirella This businessman speaks five languages and has a collection of honorary doctorates. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. 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. Jean Coutu is worth $2.80 billion USD ($3.39 billion CAD) according to Forbes. Emanuele Lino Saputo, CM, OQ, businessman, dairy and cheese industrialist, philanthropist (born 10 June 1937 in Montelepre, Italy). He went to a variety of schools there including Harvard. Budgeto is the first easy-to-use, affordable and reliable online budgeting tool designed specifically for small and medium-sized businesses. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. [citation needed]. If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. The real estate mogul and philanthropist died at the age of 80 on. Giuseppe Saputo founded the company in Montreal in 1954, using $500 in startup capital and a single bicycle to make deliveries. He founded, They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. 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. 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. Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. At Saputo, our best comes from our people. 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 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. 5.0 Job work-life balance Salary/Benefits The family has also made significant donations to various organizations, such as $10 million to Concordia University. Please try again. 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. The Montreal-headquartered company is one of the biggest dairy processors in the world, selling cheese, milk, and other dairy products in more than 60 countries. Technical storage or access that is used exclusively for anonymous statistical purposes. Joey Saputo's age is 58. Its stock soared for most of last year, climbing more than 50% and taking the family fortune to new heights. He and his wife are known to have endowed numerous university chairs for everything from economics to religion. While Cirque du Soleil went bankrupt in 2020, his personal fortune was not impacted. Between the two of them, and with the help of a single phone, they started drumming up business for their company. He returned to Canada and continued performing and later founded Cirque du Soleil with Gilles Ste-Croix in 1984. 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. Lino Saputo is married to Mirella, and they have three children: Joey, Lino Jr., and Nadia. [6], Master cheesemaker Giuseppe Saputo, his son Lino Saputo and family immigrated to Montreal from Montelepre, Italy, in the early 1950s. In addition to his work at the Saputo Group and CF Montreal, Joey Saputo has . 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. Youre going to detect a bit of a pattern on this rich list and maybe thatll help you find your own key to success. Today, it's one of the world's top dairy brands. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. Its products are sold in over 60 countries worldwide,[3] operating in Canada, the United States, Argentina, Australia and the United Kingdom, with about half of its revenues coming from its US operations. Saputo Stadium, which opened in 2008, has a maximum seating capacity of 19,619 spectators. 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? 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 This company specialized in paging devices, which were the techiest of tech at that time. Storage or technical access that is used exclusively for statistical purposes. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. First international inductee, Joey Saputo is a Canadian businessman and President of the Montreal Impact soccer team, which he founded in 1993. According to Canadian Business, the Molson family is worth $1.75 billion. Visit our Community Guidelines for more information and details on how to adjust your email settings. Although Molson Coors is now a publicly-owned company, the family still plays a major role in its Canadian operations. 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