Copyright 2023 St. Joseph Communications. December 24, 2015, Rich 100 rank: #5 . Today, it's one of the world's top dairy brands. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. [7] In 2008, Saputo acquired Neilson Dairy from George Weston Limited for C$465million. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. [1][2], The company has expanded predominantly through mergers and acquisitions. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. Telesystem sold a lot of its cellular assets at the beginning of the 2000s. 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. cooperatives, Agrifoods International Co-operative (known more commonly as Dairyworld). Like the acrobats in his shows, Guy Lalibert seems to always land on his feet as a businessman. 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. 5.0 Job work-life balance Salary/Benefits 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.. Between the two of them, and with the help of a single phone, they started drumming up business for their company. Saputo. [14] It acquired all the remaining shares in March 2017. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. 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. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. [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. 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. Open a new chequing account with the BMO NewStart Program and get $400 welcome bonus, no account fees for a year and other freebies. History Of CF Montreal: Founded In 1992. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? The Saputo family runs an international dairy products company and is headquartered in Montreal. 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. It all started with Selim Rassy who immigrated to Canada from Lebanon in 1910. [18], On February 22, 2019, it was announced that Saputo would be buying British dairy company, Dairy Crest. 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. The couple also contributed to the foundation of an Italian Canadian community centre in Montreal,
in Cooksville, Ontario. Giuseppe Saputo, a cheesemaker, immigrated with his family to Montreal in the 1950s from Italy. [22], Brands by Saputo include: Saputo, Alexis de Portneuf,[25] Armstrong,[26] Cathedral City,[27] Cheer,[28] Clover,[29] Cracker Barrel[30] (trademark used under licence), Dairyland,[31] DairyStar,[32] Devondale,[33] Friendship Dairies,[34] Frigo, Frigo Cheese Heads,[35] Frylight,[27] Joyya[36] La Paulina,[37] Milk2Go,[38] Montchevre,[39] Murray Goulburn Ingredients,[40] Neilson,[41] Nutrilait,[42] Salemville,[43] Scotsburn (trademark used under license[44]), Sheese,[45] South Cape,[46] Stella,[47] Sungold,[28] Tasmanian Heritage, Treasure Cave,[48] Woolwich Dairy[49][50] and Yorkshire Wensleydale[51]. 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.. According to Forbes, Richard Fortin is worth $1.10 billion USD ($1.33 billion CAD). Change in rank from 2017: 2 At Saputo, our best comes from our people. 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. 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. The company expanded into the energy sector in 2004 and two years later expanded into the wine and spirits sector. The family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. 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. Saputo Inc. is a Canadian dairy company based in Montreal, Quebec, founded in 1954 by the Saputo family. He is the founder of the Canadian cheese manufacturer Saputo Inc. Saputo dairy products are found all over Canada. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. I can confidently say that I have surpassed nearly all my dreams. Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. Armstrong Cheese was formerly an independent cheese maker in Armstrong, British Columbia, which was acquired by Dairyworld in 1997. According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). 4750, Rue Sherbrooke East, Montreal, Quebec H1V 3S8 Canada. Fortins business prowess has been widely demanded. 1957 [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. All Rights Reserved. Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. 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. In addition to his work at the Saputo Group and CF Montreal, Joey Saputo has . Saputo Inc. was founded with $500 and a bicycle. After Saputo obtained the brand, it closed the plant in Armstrong. [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. According to Canadian Business, Charles Sirois is worth $1.19 billion. The company went on to provide services to countries around the world, in 150 different currencies. Completed over 30 acquisitions since becoming a publicly traded company. As a result the stadium would carry the name Saputo. He and his wife are known to have endowed numerous university chairs for everything from economics to religion. 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. Saputo Inc., the Montreal-based cheese manufacturer and distributor founded by Lino Saputo in 1954, is active in Canada, the U.S., Argentina, the U.K. and Australia, and the company is. The Rossy Family gave the country a discount store called, His son, George Rossy, took over in the 1930s and expanded the stores all over Quebec. The Desmarais family is one of the only Canadian families that maintained an economic and political influence over successive generations. He would be Lino's inspiration and motivation to start his own company. As of 2019. tasting the product daily. Charles Sirois bought out his fathers business in 1978 and that was the beginning of his empire. 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 business tripled its size after it went public in 1997, dominating markets in Canada, the. He went to a variety of schools there including Harvard. 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. until reading about it in local newspapers. Nonetheless, the family company long lived under the shadow of its purported link to Bonanno the company was even raided in 1972 by Montreal police. He went on to work for the Provi-Soir convenience store chain. He belongs to the dropout class of billionaires like Mark Zuckerberg and Bill Gates. Despite, Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. He founded, They wanted to provide IT consultancy services to businesses grappling with how to best utilize their IT resources. 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. Factory on St-Michel street in Montreal. The company did not make either father or son available for an interview, saying Lino Sr. is enjoying his well-earned retirement, while Lino Jr. was too busy. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. Une somme de 7,5 M$ a t offerte sous forme de donation de la famille Saputo, alors qu'un montant de 9,5 M$ a t financ sur une priode de 25 ans. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). Yet the Saputo family claimed that they had been unaware of Bonanno's reputation, and canceled the deal as soon as they learned of Bonanno's mafia connections. 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. Combined, Saputo Inc.s brands generate north of $14 billion in annual revenue. The Saputo Family is a Canadian family with strong Italian roots. 486 spot on the Forbes list of global billionaires. That wealth stems from print media, beer, convenience stores and more. 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. 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. [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. While Saputo Inc. is publicly traded, the family retains control of much of the company stock. 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. Welcome to, et bienvenue , r/Canada! According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. + 5 Reasons to Buy a Life Insurance Policy if You Have Children, + 6 Things Every Parent Should Know About Life Insurance, + How to choose a life insurance policy in Canada, + How to Get Cheap Motorcycle Insurance Quotes, + The Ultimate Guide to Dirt Bike Insurance, + The Ultimate Guide to Motorcycle Insurance, + What Does It Take To Be Pre-Approved For A Mortgage In Canada, + How To Shop For A Mortgage In Canada, Like A Boss, Using Your RRSP To Buy A House: Everything You Need To Know About The Home Buyers Plan, First Time Homebuyers in Canada: Everything You Need to Know Before Making Your Lifes Biggest Purchase, + First Time Homebuyers in Canada: Everything You Need to Know. 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". Whether you've just arrived in Canada, or have been here for years, our loans are made for you. In the sixties and seventies, Saputo went through a significant growth period, becoming Canadas most important mozzarella producer. Photo by Graham Hughes/The Canadian Press files. Some notable donations include $4 million for research into intellectual disabilities as well as a $3 million donation for research into cellular cancer treatment. Subscribe now to read the latest news in your city and across Canada. trend for Italians immigrating to Canada. [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. 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