1.4M subscribers in the canada community. 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 . At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. 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. The Saputo family was reportedly unaware Bonanno was a Mafia boss The Company completed its initial public offering in Canada in 1997. [20][21] The transaction was completed on April 15, 2019. In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. + Fixed vs Variable Rate Mortgages in Canada: What Are the Differences? The Saputo family owns hundreds of antique cars and oversees an automobile enthusiasts' club. 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. SAPUTO. Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. Lino Saputo Sr., front, of the Montreal dairy giant Saputo Inc., and Lino A. Saputo Jr., president of and chief executive officer of the company, are seen at the annual Saputo meeting in Laval, in 2009. Le 9 mars 2011, en vue de son entre en MLS, le CF Montral a dvoil les plans dtaills de l'agrandissement du Stade Saputo pour le faire passer de 13 034 20 801 siges. DiBella initially agreed to personally invest [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. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. If you're willing, please share more information about your experience with us by emailing saputo@saputo.com. This businessman speaks five languages and has a collection of honorary doctorates. + What Are the Main Benefits of Refinancing Your Mortgage? Fortins business prowess has been widely demanded. Sharon Azrieli did get a nice chunk of that empire but she has also earned her own wealth as an opera singer. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). A sign at a Montreal Saputo plant, pictured in 2014. Our story began in Canada in 1954, when the Saputo family's hard work and dedication created a thriving dairy business. Alimentation Couche-Tard has a market capitalization of $48.69 billion on the TSX. 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. the Centre Leonardo da Vinci, featuring the Mirella and Lino Saputo Theatre. until reading about it in local newspapers. Lino grew the company in the following decades, taking it public in 1997; today its products are sold in more than 40 countries. Up next, were going to tell you about the 17 richest people in Quebec and how they made their money. All Rights Reserved. [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. 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. 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. [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. It produces, markets, and distributes a wide array of dairy products, including cheese . Second to Ontario when it comes to the provinces with the most billionaires, Quebec is home to some of the richest people in Canada and the world. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). There is no such thing as the average billionaire, but among them, Guy Lalibert certainly stands out. in Cooksville, Ontario. Read more about cookies here. The couple also contributed to the foundation of an Italian Canadian community centre in Montreal, The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. His son, Gene Kruger, took over the company in the 1920s and grew it by adding newsprint, tissue and cardboard to the list of things the familys company manufactured. The billionaires father, Simon Sirois, created Setelco in the 1970s. The Intern, Communications will be responsible for assisting in the development and deployment of internal and external communications strategies. 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. Were very fortunate that weve gotten very good at acquisitions, Saputo Jr. told the Financial Post in 2019 when he was namedCanadas Outstanding CEO of the Year. 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. Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. In addition to his work at the Saputo Group and CF Montreal, Joey Saputo has . "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. A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. He would be Lino's inspiration and motivation to start his own company. 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. We are Canada's general-theme subreddit. Clment is passionate about finance. In a 3.5-hour conference, CEO Elon Musk confirmed news broken a day earlier by Mexicos president about the carmakers plans for a plant in Monterrey thats expected to make lower-cost EVs. : Meet the Quebec billionaire family thriving on North America's love affair with pizza and mozzarella, Howard Levitt: New Brunswick doctor's record $1.8-million severance award provides lessons for employers, Posthaste: 'The damage is real' Foreign homebuyer ban causing upheaval in real estate industry, Terence Corcoran: Grocery chains should take on Bank of Canada, Enbridge bets there's a future for oil and gas with $3.3 billion worth of new projects, Posthaste: Canada among countries most at risk of housing crash spiralling into a bigger crisis, say these economists. Selected Morningstar National Bank Qubec companies of, Learn how and when to remove this template message, Warrnambool Cheese & Butter Factory Company Holdings Limited, List of dairy product companies in the United States, "Shareholder Reports | Investors | Saputo", "Saputo bailing out of European cheese market", "Twinkie's last stand: It's up to a mediator", "Cercle des Grands entrepreneurs du Qubec", "Saputo Inc. spends $407million for Dairyworld Foods", "Saputo acquires George Weston's Neilson dairy", "Saputo buys U.S. dairy company Morningstar for $1.5-billion", "Scotsburn sells off its fluid milk business to Saputo", "Saputo Announces Takeover Offer for Warrnambool Has Closed", "Mexico's Grupo Bimbo acquires Saputo Bakery", "Saputo Completes the Acquisition of the Extended Shelf-Life Dairy Product Activities of Southeast Milk, Inc. in the United States", "Saputo buys another Wisconsin cheese manufacturer", "Cathedral City firm to be bought for 975m", "Dairy Crest deal set to net boss Mark Allen 4.8million", "Canadian dairy giant Saputo enters U.K. market with $1.7B deal for Dairy Crest", "Saputo completes acquisition of Dairy Crest", "SAPUTO INC.: Shareholders Board Members Managers and Company Profile | CA8029121057 | MarketScreener", "Corporate Information | Investors | Saputo", "Armstrong Pizza Mozzarella Cheese made by Saputo", "Cathedral City maker Dairy Crest to be bought by Saputo", "Warrnambool owner Saputo flags fresh dairy pain", "Saputo poised to take total control of Warrnambool Cheese & Butter", "HEALTH HAZARD ALERT - DAIRYLAND brand 1% chocolate milk may contain a chemical sanitizer", "Saputo reaches deal to acquire Australian dairy firm for $1.29billion - BNN Bloomberg", "Inside Friendship Dairies' Social Media Startup Strategy", "Frigo Cheese Heads Now Available in Bold New Flavors", "Saputo launches ultra-filtered milk brand Joyya in Canada", "Saputo to buy Argentine dairy processor", "Saputo enters sports recovery arena with high-protein Milk2Go extension", "Saputo completes acquisition of Montchevre Goat Cheese", "Saputo acquires activities of Murray Goulburn in Australia", "Neilson chocolate milk recalled due to listeria concerns", "Saputo repositions Nutrilait milk brand for a messy life", "Salemville Cheese Co-op creates market for Amish farmers' milk", "Workers 'in shock' over Sydney dairy closure", "Saputo beefs up non-dairy cheese and value-added ingredients with 2 acquisitions | Globalnews.ca", "Saputo Completes the Acquisition of the Specialty Cheese Business of Lion Dairy & Drinks Pty Ltd in Australia", "Saputo launches fresh mozzarella products under Stella brand", "Saputo, Chunk Feta Cheese - Treasure Cave", "Saputo buys goat cheesemaker Woolwich Dairy", "Saputo to acquire UK's cheese maker Wensleydale Dairy Products", https://en.wikipedia.org/w/index.php?title=Saputo_Inc.&oldid=1130179942, Companies listed on the Toronto Stock Exchange, Food and drink companies established in 1954, Manufacturing companies based in Montreal, Articles lacking reliable references from June 2017, Articles with unsourced statements from February 2022, Articles with unsourced statements from June 2017, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, Canada, United States, Argentina, Australia, United Kingdom, The Caisse de dpt et placement du Qubec, Revenues: 14,3 billion CAD as at March 31, 2021, Employees: Approximately 18 000 as at February 10, 2022, Facilities: 67 (18 in Canada, 29 in the US, 13 international and 7 in Europe as at March 31, 2021, This page was last edited on 29 December 2022, at 00:16. 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. 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. Photo by Ryan Remiorz/The Canadian Press files. In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. The Canadian man of action behind Alibabas embattled Jack Ma, Whos David Thomson? Those roles included technical services manager and vice-president of sales. Create an account or sign in to continue with your reading experience. 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. That wealth has everything to do with his father, Pierre Pladeau Senior. By moving to Montreal, the family followed a well-established trend for Italians immigrating to Canada. His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. A total of 40,000 shares of the [] Couche-Tard, also known as Alimentation Couche-Tard, was founded by Alain Bouchard with a single convenience store in 1980. The total value of the offer is $1,250! Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. Saputo dairy products are found all over Canada. In 1954 the Saputo family brought the secrets of Italian cheese-making to Canada. 486 spot on the Forbes list of global billionaires. The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. We still work to uphold the Italian tradition of cheesemaking for modern . Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. I can confidently say that I have surpassed nearly all my dreams. 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. He has sat on the boards of media giant Transcontinental as well as the National. The company went on to provide services to countries around the world, in 150 different currencies. SAPUTO, Rosalia Monticciolo 1931-2017 It is with great sadness and heavy hearts that the family of Rosalia Saputo Monticciolo announces the passing early Friday morning, December 15, 2017 at the age of 86. The Saputo family has a long history of meaningful philanthropy, beginning with Lino and Mirella who co-founded their foundation in 1979. Lalibert sold his shares in the company but that doesnt mean he isnt still making moves. Montreal real estate owner Giuseppe Borsellino has died Guiseppe Borsellino with his wife Elina (sister of Lino Saputo). extended shelf-life milk and cream products, cultured products and There are quite a few different things that billionaires can teach us. 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. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. In 1950, Linos father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Amelia Saputo and Lino Saputo Jr. react . When you consent to allowing these technologies, it permits us to analyze data, like on-site behaviour and unique IDs on the site. 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