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. 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. When you consent to allowing these technologies, it permits us to analyze data, like on-site behaviour and unique IDs on the site. : 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 $3.3 billion worth of new projects, Posthaste: Canada among countries most at risk of housing crash spiralling into a bigger crisis, say these economists. Une somme de 7,5 M$ 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. Franco Saputo, Giuseppe Saputo and . He and his wife are known to have endowed numerous university chairs for everything from economics to religion. tasting the product daily. Finally, in 2004, Lino Saputo Sr. resigned as CEO, completing a long-anticipated Lino Saputo is the son of a successful entrepreneur. The 2000s took the company into the US market with the acquisition of Circle-K convenience stores. He continued as CEO of the firm, but appointed Camillo Lisio, then executive vice-president, as chief operating officer in 1998. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. [5] It used to own the Canadian rights to Hostess Brands products. Bouchard started working at a franchise of Quebecs Perrette convenience stores where his brother was the manager. 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. 11. The company went on to provide services to countries around the world, in 150 different currencies. Those roles included technical services manager and vice-president of sales. Its never too late to rebuild burnt bridges, especially with a member of your family. A sign at a Montreal Saputo plant, pictured in 2014. [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. 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. 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. Our team will be reviewing your submission and get back to you with any further questions. Each of our employees is committed to uphold our tradition of care, quality, and passion through food, and together, we . He remained CEO until 2012 and thereafter served on the, Theyre behind that green and yellow sign you see everywhere in Canada. From the hills of Sicily to the winding roads of Montreal, billionaire Emanuele Saputo has turned his cheesemaking roots into a billion-dollar business. That wealth stems from print media, beer, convenience stores and more. Fido is still a household name in Canada. He completed his secondary schooling in the early 1950s, and shortly thereafter, the Saputo family immigrated to Montreal, Quebec. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 1969: Giuseppe Saputo retires and Lino Saputo becomes chairman and builds company into Canada's largest dairy products group. Arriving in Canada in search of a brighter future, the Saputo family settled in Montral and planted the seeds of what is now a global company. Lino Saputo Jr. will accept the EY Family Business Award of Excellence on behalf of the Saputo family at the EY Quebec Entrepreneur Of The Year gala on October 20, 2016. Fayers fintech innovation attracted the likes of Goldman Sachs as investors. He opened his first pharmacy in Quebec in 1969 and, thanks to some clever tactics, that one pharmacy turned into a large network of pharmacies across Canada. + What Are the Main Benefits of Refinancing Your Mortgage? 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. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. The extent of his goaltending prowess is unclear, though its apparent hes so far helped stop Saputo Inc. from following the tradition of third-generation family business decay. Today, it's one of the world's top dairy brands. 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. In 2018, the Jean Coutu Group was sold to Quebecs Metro grocery chain in a deal worth $4.5 billion. In 1950, Linos father, Giuseppe Saputo, and eldest brother, Frank, immigrated to Canada from their Sicilian home. Founded in 1954 by the Saputo family in Montral, Canada, who delivered hand-crafted cheese to their community on a bicycle . Your feedback is valuable to us, and we'd like to learn more. Throughout this process, Lino remained firmly in charge of Saputos operations, reportedly Emanuele " Lino " Saputo, CM OQ ( Italian: [emanule lino saputo]; born June 10, 1937) is an Italian-Canadian billionaire businessman. Read more about cookies here. Joey Saputo is the son of Canadian billionaire Lino Saputo, the founder of Montreal-based Saputo Inc., one of the most prominent dairy companies in the world ( see also Diary Industry; Cheese and Cheese Making ). 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. There are quite a few different things that billionaires can teach us. The total value of the offer is $1,250! 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.. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. The Molson family never lost steam with their ventures and financed the first steamboat in the country as well as building the first railroad. products of the utmost quality, including cheese, fluid milk, 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. In September 1954, Lino convinced his father to start his own business. Photo by Graham Hughes/The Canadian Press files. Saputo strives to embed diversity and inclusion in its operations and invites candidates from all horizons to join its family. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. Change in rank from 2017: 2 "I invite them to come and. In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. 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. 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. In 1957, Saputo's first sizable production facility was built in Montreal's Saint-Michel neighbourhood. Initially, Coutu expanded into Quebec, Ontario, and New Brunswick. SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. Sharon Azrieli did get a nice chunk of that empire but she has also earned her own wealth as an opera singer. Right alongside the influx of Italian immigrants and the rise of pizza popularity in the 1950's, Saputo was born. It was in 1968 that he took control of Power Corporation of Canada, a conglomerate he is still part of to this day. Amelia Saputo and Lino Saputo Jr. react . Saputo StadiumInformation about Saputo Stadium, home of CF Montral. Saputo invested $40 million to get Montreal into MLS. Dollaramas were only found in Eastern Canada initially, but in the 2000s, they expanded across Canada to the west. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. 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. Couche-Tard, also known as Alimentation Couche-Tard, was founded by Alain Bouchard with a single convenience store in 1980. The Company completed its initial public offering in Canada in 1997. These allegations formed part However, by 1954, The company went public on the Toronto Stock Exchange in October 1997 and shortly after tripled its size by acquiring Stella Foods in the U.S. Jolina Capital Inc., a holding company controlled by Lino Saputo, holds 32 per cent of Saputo Inc., making Jolina the principal shareholder. In September 1954, using $500 to buy some basic equipment and a bicycle for deliveries, the Saputo family founded a cheese making company bearing its name. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. DiBella initially agreed to personally invest Jean Coutu is worth $2.80 billion USD ($3.39 billion CAD) according to Forbes. 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. Thanks for contributing to The Canadian Encyclopedia. Lino considered his successful ten-year period with National Bank a vindication of the earlier allegations of family ties to Sicilian Mafia members, and Brard stood 2. The company now has interests in restaurants, golf clubs as well as the Saputo Stadium which hosts the Montreal soccer team. Technical storage or access that is used exclusively for anonymous statistical purposes. In addition to his work at the Saputo Group and CF Montreal, Joey Saputo has . + Is Making Bi-Weekly Payments on a Mortgage a Good Idea? 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. 1445 De . 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. Budgeto is the first easy-to-use, affordable and reliable online budgeting tool designed specifically for small and medium-sized businesses. 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