The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. The Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. According to Forbes, Stephen Jarislowsky is worth $1.80 billion USD ($2.18 billion CAD). In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. 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. 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. 486 spot on the Forbes list of global billionaires. 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 MONTREAL-Lino Saputo, founder of Canada's largest dairy-processing company, is inviting the RCMP to talk to him about allegations linking him to the Italian Mafia. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. Reflects change since 5 pm ET of prior trading day. 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. At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. 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. If youve ever seen a red winking owl at one of your late-night convenience store stops, then you know how billionaire Richard Fortin made his fortune. By moving to Montreal, the family followed a well-established trend for Italians immigrating to Canada. He later went on to become the full owner of Molson Brewery in Montreal. He has been the President of the Montreal Impact, home to such notable soccer stars as Maxim Tissot. Named in honor of the Saputo family, which donated a bulk of the funds for the stadium's completion, the venue resides at Olympic Park, where it is accessible by both the Viau and Pie-IX subways. Company - Public (SAP) Industry: Food & Beverage Manufacturing. It all started with Selim Rassy who immigrated to Canada from Lebanon in 1910. 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. Prior to partnering with Bouchard, Fortin earned a degree in finance and was president of Quebec-based investment firm Socit Gnrale S.A. He went on to expand his media and printing empire in Quebec. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. 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. In the early 1950s, the Saputo family left their home town of Montelepre, Sicily, in order to start a new life in Canada. The company expanded from that point until it went public in 1997. 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. When the round is over, eight cities will be disappointed, and some may . The landscape in Major League Soccer is changing. Today, it's one of the world's top dairy brands. 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. Although a lot of his fortune did end up tied to his philanthropic foundation, his children also got a piece of it. 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. Net worth: $2.03 billion. The crew of four comprises two NASA astronauts, a Russian cosmonaut and an astronaut from the UAE. "I invite them to come 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. As a result the stadium would carry the name Saputo. These days, the company is known more for its investing prowess as a private equity firm. Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. Saputo, 82, has a net worth estimated at $6.5 billion and is one of the richest people in Canada. That quick success had to do with the fact that back then private payment processors were a fairly new thing. The foundation provides money to a variety of causes including those focusing on healthcare. 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). 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. The business quickly benefited from steady demand from fellow Italian immigrants, who longed for the products of home. 10000+ Employees. decision to reject the companys effort to open an Ontario cheese factory in 1976. Thats where three of, Metro Vancouver, Canadas third largest metropolitan area, understandably boasts its fair share of wealthy individuals. Emanuele (Lino) Saputo is an Italian-Canadian billionaire businessman who has an estimated net worth of $4.9 billion. If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. Aldo Bensadoun. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. . One of the top 10 dairy processors in the world, with products sold in over 50 countries. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. Jean Coutu is worth $2.80 billion USD ($3.39 billion CAD) according to Forbes. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. Arriving in Canada in search of a brighter future, the Saputo family settled in Montral and planted the seeds of what is now a global company. These allegations formed part He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. Adjusted net earnings in 2021 were $715 million, down from $724 million in 2020. 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. Pierre Karl Pladeau is a very rich man. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. [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. Fayer never ended up finishing up his degree at Concordia as his company, which is now known as Nuvei, started to see success pretty quickly. The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. Today Couche-Tard stores can be found all over the world. 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. According to Canadian Business, the Kruger Family is worth $1.91 billion. 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. Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . Early Life and Establishment of Saputo Inc. Storage or technical access that is used exclusively for statistical purposes. 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. 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. Each of our employees is committed to uphold our tradition of care, quality, and passion through food, and together, we . extended shelf-life milk and cream products, cultured products and In March 2004, his son Lino Saputo Jr. was appointed to the position of president and CEO, while Saputo continued as the company's chairman. Shortly . 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. Immigrants are playing a major role on the list of the richest people in Quebec. Saputo. I love that pressure and I love that responsibility, he told the Post. 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. Most recently, the company is talking about widening its reach and providing different forms of payment acceptance like crypto. Some notable donations include $4 million for research into intellectual disabilities as well as a $3 million donation for research into cellular cancer treatment. 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. Concordians celebrated a visionary gift of $10 million from the Mirella & Lino Saputo Foundation and the Amelia & Lino Saputo Jr. Foundation on Nov. 1. Saputo Family Makes Visionary $10 Million Donation to Support First-of-its-kind Social Innovation Centre at Concordia University Transformational gift from Amelia & Lino Saputo Jr.. The sale of shares in Saputo Inc. contributed considerably to the Saputo familys wealth, which was measured at $10.61 billion as of 2017. + Is Term Life Insurance Better Than Whole Life Insurance? 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. The Impact was the first Canadian club, and the . "The SHIFT Centre for Social Transformation will support tomorrow's social entrepreneurs to solve critical issues . Whether you drink beer or not, youve likely heard of Molson. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. 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. Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. However, by 1954, 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 . Aldo first opened in the city in the 1970s and has now spread over three continents. By CB Staff On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. Fortins business prowess has been widely demanded. Watch highlights from the Nov. 1 announcement ceremony. AT SAPUTO, YOU WILL. In the absence of a subpoena, voluntary compliance by your Internet service provider, or additional records from a third party, the information stored or retrieved for this sole purpose generally cannot be used to identify you. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. As of 2019 Saputo was valued at $13.8 billion. Saputo Stadium, which opened in 2008, has a maximum seating capacity of 19,619 spectators. 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. Right into the 21st century, much of Linos interests remained in overseeing the growth of Saputo Inc. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. Signing up enhances your TCE experience with the ability to save items to your personal reading list, and access the interactive map. Franco Saputo, Giuseppe Saputo and . Its stock soared for most of last year, climbing more than 50% and taking the family fortune to new heights. Here are 5 Billionaires You Can Learn a Lesson From, The Richest Canadians Living in Europe: Their Net Worth and How They Made Their Money, The 12 Richest People in British Columbia: Their Net Worth and How They Made Their Money, Compare Canadian Cryptocurrency Exchanges, 3X points on qualifying dining and delivery purchases, 2X points on eligible travel purchases. According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). In 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. According to Forbes, Serge Godin is worth $2.20 billion USD ($2.66 billion CAD). By 1989, he sat on the board of directors for a shipping firm, Cabano Expeditex (now TransForce), and for the National Bank of Canada. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. The 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? When you look at the stories of some of the richest people in the world, you learn that it doesnt take a lot of money to start a billion-dollar business. [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. tasting the product daily. He went to a variety of schools there including Harvard. Jarislowsky has sat on the boards of some of the worlds largest and most influential companies like SNC Lavalin and Swiss Bank Corp. All Rights Reserved. The Saputo family has a long history of meaningful philanthropy, beginning with Lino and Mirella who co-founded their foundation in 1979. 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