The Molson family never lost steam with their ventures and financed the first steamboat in the country as well as building the first railroad. [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. Before Saputo Inc. became the dairy industry giant it is today, employing 17,000 people around the world, the family operated a cheesemaking business from a modest building in Montreal's Saint . 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. Watch highlights from the Nov. 1 announcement ceremony. Saputo was born in Montelepre, Sicily, Italy, in 1937, to Giuseppe Saputo, a cheesemaker, and his wife Maria. Company - Public (SAP) Industry: Food & Beverage Manufacturing. They helped retailers, both online and offline, process credit and debit payments without the help of banks and credit card companies. Hes been the head of a major political party and is the head of one of Canadas biggest media empires. Although Alain Bouchard opened the first Couche-Tard convenience store alone in 1980, he was joined shortly after by DAmours and two other founders. In 1985 Joey Saputo began working for the family business, Saputo Incorporated., a dairy processing company founded by his father Lino Saputo in 1954. Two years later, Lino came to join Giuseppe and Frank with his mother, Maria, and five other siblings. Giuseppe Saputo, an Italian cheesemaker, immigrated with his family to Montreal in the 1950s. Technical storage or access that is used exclusively for anonymous statistical purposes. Lino is an enthusiastic car collector, particularly of vintage Cadillacs and other classic cars. In 2017, the company was sold to a private equity firm for just over $400 million with Fayer staying on as CEO. The company expanded from that point until it went public in 1997. his ambitions drove him to encourage his parents to return to cheese making, which had been the family business in Sicily. Although Molson Coors is now a publicly-owned company, the family still plays a major role in its Canadian operations. His son Lino Saputo Jr. was named "Canada's Outstanding CEO of the Year" for 2019 by the Financial Post. 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. A family business that started in Montreal in the early 1950's, the company has grown over the past decades into a publicly traded multinational enterprise (Saputo Inc., 2017). 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 retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: 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. Get a $25 bonus when you open an investment account with Canadas most- popular robo-advisor. AT SAPUTO, YOU WILL. You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. There was an error, please provide a valid email address. Its shares declined 9% in 2017 and 5.9% year over year, though revenues were still up 9% as of August. First and foremost, its through the due diligence process that we recognize how important it is to integrate effectively. The Company has completed 36 acquisitions since it became publicly traded in 1997. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. He wanted to create his own performing arts shows in Canada before he left for Europe at the age of 18. 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. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. Saputo products at a discounted price; We support employment equity. Giuseppe (Joseph) Saputo was born in 1905 in Montelepre, a town some thirty kilometers from Castellemmarre del Golfo, birthplace of Joe Bonanno. One client turned into ten, and then 100, and a decade later they found themselves on the Toronto Stock Exchange raising funds to buy out smaller IT companies. Saputo quickly established itself in Montral's Italian community. Completed over 30 acquisitions since becoming a publicly traded company. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). 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. He is the founder of the Canadian cheese manufacturer Saputo Inc. Saputo went through considerable growth in the 1960s and 1970s as demand for its products increased. 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. : 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. Rosalia will be lovingly missed by her five daughters, Caterina, Maria, Enza, Josie and Valentina and her sons-in-law Raffaele and . Invest with this $0 fee online broker pioneer! And yet over 70 years Saputo Inc., started by a family of Italian immigrants, has grown swiftly into an international dairy behemoth. Megawide is building a $300 million data center in Cavite, south of the Philippine capital of Manila, as the construction company pivots to the digital space. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. Listen to Down to Business for in-depth discussions and insights into the latest in Canadian business, available wherever you get your podcasts. Despite, Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. 1957 1445 De . Lalibert was inspired by a childhood visit to the Ringling Brothers Circus. Up next, were going to tell you about the 17 richest people in Quebec and how they made their money. 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. "The SHIFT Centre for Social Transformation will support tomorrow's social entrepreneurs to solve critical issues . By CB Staff At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. Change in rank from 2017: 2 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. Lino Saputo is the son of a successful entrepreneur. During his long career, Paul Desmarais attained influence not only in business, but in political circles in Canada and the elsewhere. Using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheesemaking company bearing its name. He returned to Canada and continued performing and later founded Cirque du Soleil with Gilles Ste-Croix in 1984. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Joey Saputo began working for the family business in 1985, Saputo Inc., a dairy processing company founded by his father Lino Saputo in 1954. December 24, 2015, Rich 100 rank: #5 Born in Berlin, Stephen Jarislowsky left Nazi Germany for the Netherlands, then France, before immigrating to the United States in the 1940s. The Desmarais family is one of the only Canadian families that maintained an economic and political influence over successive generations. 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. 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. The next issue of Financial Post Top Stories will soon be in your inbox. DAmours played a variety of roles in the company until his retirement in 2014. By moving to Montreal, the family followed a well-established trend for Italians immigrating to Canada. Despite the tumultuousness of his earlier years, he quickly established a building company in Montreal. 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. 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. 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. Today Couche-Tard stores can be found all over the world. According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. [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. 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? 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 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. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. 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