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. One of Giuseppes sons, Lino, persuaded him to start a cheese-making business. 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. The Saputo family has a long history of meaningful philanthropy, beginning with Lino and Mirella who co-founded their foundation in 1979. Saputos growth strategy stresses patience: CEO Lino Saputo Jr. waited 12 years for the opportunity to snap up one of the biggest dairy operations in Australia, in 2014. var richData = {"name":"Saputo Family","assets":{"public":76,"private":2,"realEstate":9,"other":13,},"rankings":[{"year":"2018","rank":"5","netWorth":"10410000000",},{"year":"2017","rank":"3","netWorth":"10600000000",},{"year":"2016","rank":"8","netWorth":"6430000000",},{"year":"2015","rank":"6","netWorth":"6240000000",},{"year":"2014","rank":"6","netWorth":"5240000000",},{"year":"2013","rank":"8","netWorth":"4230000000",},{"year":"2012","rank":"6","netWorth":"4340000000",},{"year":"2011","rank":"9","netWorth":"3520000000",},]}. The Intern, Communications will be responsible for assisting in the development and deployment of internal and external communications strategies. He scraped together $500 in savings for [7][8], In 1988, Saputo expanded to the United States by acquiring two cheese plants. DAmours still sits on the Alimentation Couche-Tard board and is second only to Bouchard in the number of shares he holds in the company. Its stock soared for most of last year, climbing more than 50% and taking the family fortune to new heights. He is the founder of Future Electronics, one of the four largest electrical component suppliers in the world. 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. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. 1445 De . 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. 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. His son Andr married the France Chrtien, the daughter of former Canadian Prime Minister Jean-Chrtien. [1] Early life [ edit] Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. While we don't deliver cheese by bicycle anymore, the same artisan spirit carries on to this very day. By moving to Montreal, the family followed a well-established trend for Italians immigrating to Canada. The story of Saputo starts in Italy in the first half of the 20th century where his father, Giuseppe Saputo, was an artisan cheesemaker. Franco Saputo, Giuseppe Saputo and . Emanuele (Lino) Saputo is an Italian-Canadian billionaire businessman who has an estimated net worth of $4.9 billion. 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. Paul Desmarais III, the son of Paul Jr., is vice president of Power Corporation, and he heads the companys massive investment in financial technology (fintech) including control of Wealthsimple. 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. 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. The Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. St. Joseph Communications uses cookies for personalization, to customize its online advertisements, and for other purposes. Saputo StadiumInformation about Saputo Stadium, home of CF Montral. Clment is passionate about finance. . As in the 1960s and 1970s, no direct evidence of those ties was discovered. 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 2018, Scotiabank became the proud owner of Jarislowsky Fraser in a transaction valued at $950 million. Saputo Inc. chief executive Lino Saputo Jr., speaks during the companys annual general meeting in Laval, Que., in 2019. Born in Berlin, Stephen Jarislowsky left Nazi Germany for the Netherlands, then France, before immigrating to the United States in the 1940s. Early Life and Establishment of Saputo Inc. Before entering the sports world, Saputo began his business career in 1985 with Saputo Inc., a dairy processing company founded in 1954 by his father, Emanuele "Lino" Saputo. Hints and clues to help you with today's Wordle. . [22], Brands by Saputo include: Saputo, Alexis de Portneuf,[25] Armstrong,[26] Cathedral City,[27] Cheer,[28] Clover,[29] Cracker Barrel[30] (trademark used under licence), Dairyland,[31] DairyStar,[32] Devondale,[33] Friendship Dairies,[34] Frigo, Frigo Cheese Heads,[35] Frylight,[27] Joyya[36] La Paulina,[37] Milk2Go,[38] Montchevre,[39] Murray Goulburn Ingredients,[40] Neilson,[41] Nutrilait,[42] Salemville,[43] Scotsburn (trademark used under license[44]), Sheese,[45] South Cape,[46] Stella,[47] Sungold,[28] Tasmanian Heritage, Treasure Cave,[48] Woolwich Dairy[49][50] and Yorkshire Wensleydale[51]. It is believed that a large part of the companys success comes from the fact that it is able to purchase large inventories and hold onto them for its customer base. Saputo became chairman of the board and president of Saputo Inc. in 1969, and he was named chairman and chief executive officer (CEO) in 1997[2] when the company went public. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. Although a lot of his fortune did end up tied to his philanthropic foundation, his children also got a piece of it. The Impact was the first Canadian club, and the . Saputo is one of the top 10 dairy processors in the world, with products sold in over 60 countries. Debts Repayment Calculator (Avalanche Method), 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. If you are a Home delivery print subscriber, unlimited online access is. You may not be familiar with his name, but youve definitely visited one of Bouchards more than 15,000 convenience stores around the world. According to the companys corporate history, the family used $500 to buy equipment and a bicycle for deliveries in September 1954. New to Canada? He later went on to become the full owner of Molson Brewery in Montreal. 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. Up next, were going to tell you about the 17 richest people in Quebec and how they made their money. At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. Get a $25 bonus when you open an investment account with Canadas most- popular robo-advisor. Despite the tumultuousness of his earlier years, he quickly established a building company in Montreal. 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. He has become a major player on the poker circuit and has also purchased his own island in French Polynesia. Alain Bouchard, along with his wife Sandra Bouchard, have a charitable foundation called the Sandra and Alain Bouchard Foundation. [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. 1957: Saputo opens its first company-owned cheese factory in Saint Leonard, a Montreal suburb. Search and display advertising arent the only parts of the marketing landscape that have changed over the past three years. Overall, Saputo Inc. posted revenue of $14.2 billion for the fiscal year ended March 2021 (down slightly from $14.9 billion in 2020), with $6.1 billion of 2021 revenue coming from the U.S., its largest geographic source of sales. Create an account or sign in to continue with your reading experience. The companys immense growth has propelled the founding Saputo family into the ranks of billionaires. Telesystem sold a lot of its cellular assets at the beginning of the 2000s. He is the founder of the Canadian cheese manufacturer Saputo Inc. Philip Fayer was studying at Concordia University when he founded a payment processing company in 2003, with the help of co-founder Lester Hernandes. Fortins business prowess has been widely demanded. The Saputo family likes to think big: The company is the largest cheese maker in Canada, third largest in both the U.S. and Argentina, and fourth in Australia. From there he was given more responsibility by the chains main office to find places to set up new locations. CF Montral is a Canadian professional soccer club based in Montral, Qubec, Canada.The club competes in Major League Soccer (MLS) in the Eastern Conference.Founded in 1992 as the Montral Impact (French: Impact de Montral), the team began play in MLS in 2012 as an expansion team, the league's nineteenth franchise and third Canadian club.. Saputo Jr., now in his mid-50s, has been with the family-controlled company for 33 years, including nearly two decades as chief executive. Between the two of them, and with the help of a single phone, they started drumming up business for their company. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. Bonanno agreed to invest $8,000 in exchange for a 20 per cent stake in the firm. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Hardbacon 2023 Bacon Financial Technologies Inc. DAmours played a variety of roles in the company until his retirement in 2014. Right into the 21st century, much of Linos interests remained in overseeing the growth of Saputo Inc. And yet over 70 years Saputo Inc., started by a family of Italian immigrants, has grown swiftly into an international dairy behemoth. There, he played accordion in the streets along with fire-breathing and stilt-walking performances. Saputo family has a long history of meaningful philanthropy, beginning with Lino Mirella! His fortune did end up tied to his philanthropic foundation, his children also got a piece of it later... 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