?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. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. Together they expanded Couche-Tard from Montreal to across all of Quebec by acquiring many other chains. [19] The company was valued at C$1.7billion (975million). The Company has completed 36 acquisitions since it became publicly traded in 1997. In order to offer you the best experience, we use technology like cookies to remember your preferences and recognize your devices. At the time, pharmacies could be open at all hours unlike other retailers, so folks turned to Jean Coutu pharmacies when they needed certain things when other stores were closed. Immigrants are playing a major role on the list of the richest people in Quebec. 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 stadium was inaugurated in 2008 and built at a cost of $17 million. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. He also provides transportation to company employees in an effort to get more cars off the road. 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 family founded Saputo in 1954, and Emanuele Saputo became president of it in1969. Interest in the skilful, highly technical Spanish midfielder will only increase after a surge in form. [11] The firm announced in 2012 it would buy Morningstar Food for US$1.45billion. The company was on the verge of bankruptcy but Paul Desmarais put it on solid footing and expanded it by buying other bus lines in Ontarion and Quebec. According to Forbes, Pierre Karl Pladeau is worth $2 billion USD ($2.42 billion CAD). Comments may take up to an hour for moderation before appearing on the site. 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. Saputo retired in 2018, handing the reins of Saputo Inc. to his son, Lino Saputo Jr. Share: 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. I would say that weve looked at over 300 files and weve only made 31 acquisitions since we went public in 1997, so we have looked at a lot of files and weve walked away from a lot more files than weve materialized.. : Meet the Canadian billionaire who made an early bet on Google and calls himself cheap, Whos Joseph Tsai? A hockey fanatic, he built a private three-on-three rink thats also used for a yearly company hockey tournament. Lino grew the company in the following decades,. 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. Lino Saputo emerged from modest beginnings to develop one of the most prominent dairy companies in Canada Saputo In 1954, with only $500 for equipment and a bicycle for deliveries, the Saputo family founded their very own company bearing their name. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. Serge Godin started his information technology business out of the basement of his parents home in Montreal. products of the utmost quality, including cheese, fluid milk, Each of our employees is committed to uphold our tradition of care, quality, and passion through food, and together, we . 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. [5] It used to own the Canadian rights to Hostess Brands products. He is one of the lesser-known founders of Laval-based convenience store chain, 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. But in theearly 1990s, the company started buying out pharmacies in the United States. + Why Subprime Mortgages are Popular in Canada, + CMHC and Mortgage Default Insurance: The Secret No One is Telling You. Photo by Graham Hughes/The Canadian Press files. 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. 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 . Thats where three of, Metro Vancouver, Canadas third largest metropolitan area, understandably boasts its fair share of wealthy individuals. Fortin has established Lise et Richard Fortin, a foundation that provides money to a variety of causes including those that assist children and the elderly. 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. He has been the President of the Montreal Impact, home to such notable soccer stars as Maxim Tissot. In September 1954, Lino convinced his father to start his own business. 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. As a result the stadium would carry the name Saputo. 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. 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. The company says it has spent $9.1 billion to expand its operations since its 1997 initial public offering, including through 35 acquisitions, earning it a strong reputation for integrating and improving the many companies it has gobbled up. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. 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. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. Reviews and recommendations are unbiased and products are independently selected. 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. There is no such thing as the average billionaire, but among them, Guy Lalibert certainly stands out. They later went on to purchase the Montreal Canadiens hockey team as well as the Montreal Forum. Completed over 30 acquisitions since becoming a publicly traded company. "I invite them to come and. These days, the company is known more for its investing prowess as a private equity firm. 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. 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. I can confidently say that I have surpassed nearly all my dreams. 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. In the early 1950s, the Saputo family left their home town of Montelepre, Sicily, in order to start a new life in Canada. 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? Photo by Maria Laura Antonelli/ZUMA Press/Newscom. According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). Joey Saputo was born on the 25th of September, 1964. Future Electronics now has 168 locations around the world from Canada to China. + Fixed vs Variable Rate Mortgages in Canada: What Are the Differences? Essentially, they gave business people the ability to send short wireless text messages on a tiny electronic device you could hook onto your belt buckle. The acquisition of La Presse and other Quebec newspapers gave him political influence in Quebec. + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? Fortin is one of the founding partners in the Couche-Tard chain of convenience stores. [citation needed], In 2003, the firm continued to acquire businesses in the US and expanded into Argentina with the acquisition of Molfino Hermanos S.A.[10] That same year, while remaining chairman of the board Lino Saputo stepped down as president and CEO and was succeeded in this role by his son, Lino A. SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. He went from building duplexes to building skyscrapers and massive malls, many in Israel, to create a billion-dollar fortune. Revenue: $10+ billion (USD) Founded in 1954, 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 . First international inductee, Joey Saputo is a Canadian businessman and President of the Montreal Impact soccer team, which he founded in 1993. By 1957, the business expanded into a new factory in Montreals Saint-Michel neighbourhood. Type: Company - Public (SAP) Industry: Food & Beverage Manufacturing. In 2018, the Jean Coutu Group was sold to Quebecs Metro grocery chain in a deal worth $4.5 billion. The Rossy Family gave the country a discount store called Dollarama. He is responsible for communication at Hardbacon, and will entertain you with his articles about a wide variety of topics. According to Forbes, Serge Godin is worth $2.20 billion USD ($2.66 billion CAD). Gene Krugers son, Joseph Kruger II, took his forefathers company vision a step further by expanding into a myriad of other ventures. + How to Apply for a Business Credit Card (and Get Approved), + Best Credit Cards to Rebuild your Credit, + Everything you need to know about your credit score in Canada, + Tips to improve your credit rating in Canada, + What is a Credit Score? Saputo invested $40 million to get Montreal into MLS. Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. We ask you to keep your comments relevant and respectful. 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