If you were born after 1980, you might not quite understand the product that kicked off the Charles Sirois business empire. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. Comments may take up to an hour for moderation before appearing on the site. 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. + Is Term Life Insurance Better Than Whole Life Insurance? behind him when he fought a revival of such allegations in 2007. The company further benefited from the increasing popularity of pizza during the 1960s, since it meant growing demand for mozzarella. Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. He went on to work for the Provi-Soir convenience store chain. [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. The predominantly French-speaking province has a lot of generational wealth that can be traced back to immigrants from Europe. They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. 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. At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. At Saputo, our best comes from our people. The Impact was the first Canadian club, and the . Our story began in Canada in 1954, when the Saputo family's hard work and dedication created a thriving dairy business. New to Canada? Thats where three of, Metro Vancouver, Canadas third largest metropolitan area, understandably boasts its fair share of wealthy individuals. This company specialized in paging devices, which were the techiest of tech at that time. This advertisement has not loaded yet, but your article continues below. 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. 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. 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. Thanks for contributing to The Canadian Encyclopedia. now with operations in the United States, Argentina and Australia. We apologize, but this video has failed to load. According to Forbes, he has an estimated net worth of US$4.7billion as of November 2022.[1]. That wealth has everything to do with his father, Pierre Pladeau Senior. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. They helped retailers, both online and offline, process credit and debit payments without the help of banks and credit card companies. [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. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. Lino grew the company in the following decades,. 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. He remained CEO until 2012 and thereafter served on the Board of Directors. Rosalia will be lovingly missed by her five daughters, Caterina, Maria, Enza, Josie and Valentina and her sons-in-law Raffaele and . In September 1954, Lino convinced his father to start his own business. DiBella initially agreed to personally invest 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. Immigrants are playing a major role on the list of the richest people in Quebec. 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. 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. He completed his secondary schooling in the early 1950s, and shortly thereafter, the Saputo family immigrated to Montreal, Quebec. Combined, Saputo Inc.s brands generate north of $14 billion in annual revenue. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. The Saputo family has always mainained that they were unaware of Bonanno's Mafia involvement and were only acquainted with his business partner John DiBella of the Grande Cheese Company. 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. 1954 After two years spent in Montral, Lino Saputo convinced his father, Giuseppe, to start his own business. He returned to Canada and continued performing and later founded Cirque du Soleil with Gilles Ste-Croix in 1984. Joey Saputo's age is 58. 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. 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. 2. He has sat on the boards of media giant Transcontinental as well as the National Bank of Canada. A total of 40,000 shares of the [] That quick success had to do with the fact that back then private payment processors were a fairly new thing. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. Im mindful of that every single day so I dont take anything for granted at all. 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Telesystem later partnered with Bell Cellular and together they became as BCE Mobile Communications. [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. The Company completed its initial public offering in Canada in 1997. The Saputo family runs an international dairy products company and is headquartered in Montreal. and Lino Saputo, which donates money to a wide range of causes, particularly helping sick and disabled children, women and seniors. 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. 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. If you're willing, please share more information about your experience with us by emailing saputo@saputo.com. He would be Lino's inspiration and motivation to start his own company. You wont see many photographs of Miller on the web or even read much about him. Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. 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. 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. Factory on St-Michel street in Montreal. 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. + Mortgage Prepayment Options: The Pros And Cons. I love that pressure and I love that responsibility, he told the Post. Newcastle United are reportedly targeting the signing of FC Barcelona winger Raphinha this summer, as part of a 300 million ($319 million) spending spree. At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. The company went on to provide services to countries around the world, in 150 different currencies. 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. The couple also contributed to the foundation of an Italian Canadian community centre in Montreal, Prequalify in 5 minutes or less! Unauthorized distribution, transmission or republication strictly prohibited. Reflects change since 5 pm ET of prior trading day. trend for Italians immigrating to Canada. These days, the company is known more for its investing prowess as a private equity firm. 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. December 24, 2015, Rich 100 rank: #5 A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. 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. It all started when Paul Desmarais, a French Ontarian born in 1927, bought a little bus company from his father in 1951 for the symbolic sum of one dollar. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). Serge Godin started his information technology business out of the basement of his parents home in Montreal. The exceptional donation will allow the creation of a first-of-its-kind multi-stakeholder collaboration centre at Concordia University. After Saputo obtained the brand, it closed the plant in Armstrong. Photo by Maria Laura Antonelli/ZUMA Press/Newscom. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. 4750, Rue Sherbrooke East, Montreal, Quebec H1V 3S8 Canada. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: The Saputo family was reportedly unaware Bonanno was a Mafia boss He is the founder of the Canadian cheese manufacturer Saputo Inc. 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. At Saputo, our best comes from our people. Saputo. This businessman speaks five languages and has a collection of honorary doctorates. Get 20% off your annual subscription! "I invite them to come and. In 1954, his son Lino convinced him to start a business. One of the top 10 dairy processors in the world, with products sold in over 50 countries. 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. Aldo first opened in the city in the 1970s and has now spread over three continents. 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. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. 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. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. And thats the second part of the companys success focusing on customer retention and happiness. The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. Saputo, the son of an immigrant cheesemaker, had become a billionaire, philanthropist, and head of Quebecs richest family. Whether you drink beer or not, youve likely heard of Molson. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. A short five years later, Bouchard bought a Quebec regional chain of convenience stores called Couche-Tard, and Alimentation Couche-Tard was born. Considering its global reach, billions of dollars in sales, and the wealth of its founding family, Saputo Inc. is not an overly well-known Canadian company. Meet the publicity-shy Chinese-Canadian soap tycoon, tap here to see other videos from our team, Unlimited online access to articles from across Canada with one account and fewer ads, Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on, Enjoy insights and behind-the-scenes analysis from our award-winning journalists, Support local journalists and the next generation of journalists, Daily puzzles including the New York Times Crossword, Access articles from across Canada with one account, Share your thoughts and join the conversation in the comments, Get email updates from your favourite authors. His father was a master cheesemaker in the small village where they lived in Sicily, Italy. According to Forbes, Serge Godin is worth $2.20 billion USD ($2.66 billion CAD). But since an abrupt drop in November 2016, when reports emerged that the company was issuing new shares at a below-market valuation, the company has struggled to rebound. On this Wikipedia the language links are at the top of the page across from the article title. extended shelf-life milk and cream products, cultured products and until reading about it in local newspapers. The club was granted a franchise in the American Professional Soccer League (APSL), which was considered the highest level of professional soccer in North America at the time. Some 70 per cent of family-owned businesses fail or are sold before the second generation gets a chance to take over In many ways, leading a family-owned business has never been harder., I dont take anything for granted at all. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. 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. Saputo dairy products are found all over Canada. 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. SAPUTO. The storage or technical access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). The Saputo Family is a Canadian family with strong Italian roots. Saputo became chairman of the board and president of Saputo Inc. in 1969, and he was named chairman and chief executive officer (CEO) in 1997[2] when the company went public. 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. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. In 1997, it became a publicly traded company and tripled in size following the acquisition of Stella Foods in the US. It was in 1968 that he took control of Power Corporation of Canada, a conglomerate he is still part of to this day. I can confidently say that I have surpassed nearly all my dreams. 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 has sat on the boards of media giant Transcontinental as well as the National. We are Canada's general-theme subreddit. Joey Saputo was born on the 25th of September, 1964. Though they expressed shock about Bonannos criminal ties and immediately broke off the deal, the Saputo family would occasionally struggle with allegations of Mafia connections. Fortins business prowess has been widely demanded. 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 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. According to Forbes, Richard Fortin is worth $1.10 billion USD ($1.33 billion CAD). 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. 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.. 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. In 2011, he was made an Officer of the National Order of Quebec. Signing up enhances your TCE experience with the ability to save items to your personal reading list, and access the interactive map. Today, it's one of the world's top dairy brands. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. [4], Saputo committed C$7.5million towards the construction of Montreal Impact's Saputo Stadium at Olympic Park in July 2006. Among the top 10 dairy producers in the world, the $16-billion multinational Saputo sells its milk, cheese, yogurt and other goods under dozens of different brand names around the globe. We encountered an issue signing you up. The roots of Sharon Azrielis fortune go back to when her father, David Azrieli fled Poland at the beginning of WWII and eventually ended up in Montreal in his early 30s. While we don't deliver cheese by bicycle anymore, the same artisan spirit carries on to this very day. 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. Fortins business prowess has been widely demanded. Revenue: $10+ billion (USD) 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 dairy ingredients. 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