On this Wikipedia the language links are at the top of the page across from the article title. At Saputo, we work hard to create an environment where everyone feels supported, heard, and able to do their best. 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. They expanded into Ontario with the acquisition of Beckers and Macs stores in the 1990s. He belongs to the dropout class of billionaires like Mark Zuckerberg and Bill Gates. This businessman speaks five languages and has a collection of honorary doctorates. 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. He scraped together $500 in savings for Canada's Outstanding CEO of the Year 2019: Lino Saputo Jr. Whos David Cheriton? However, by 1954, This company specialized in paging devices, which were the techiest of tech at that time. Fido was a hit and Rogers Wireless bought the company in 2004 for $1.4 billion dollars. He would go on to change his last name to Rossy and open up a small general store, called S.Rossy, in Montreal. He went on to work for the Provi-Soir convenience store chain. Joey Saputo's age is 58. Signing up enhances your TCE experience with the ability to save items to your personal reading list, and access the interactive map. 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. I love that pressure and I love that responsibility, he told the Post. Stade Saputo got built in 2007 to serve as the new home of the Montreal Impact, who were back then still playing in the NASL. In the early 1950s, members of the Saputo family, led by Giuseppe, a cheesemaker, immigrated to Canada from the Italian village of Montelepre. Dollarama, which went public in 2009 under the ticker DOL, now have a market capitalization of more than $17 billion dollars. The company did not make either father or son available for an interview, saying Lino Sr. is enjoying his well-earned retirement, while Lino Jr. was too busy. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. That wealth stems from print media, beer, convenience stores and more. Lino grew the company in the following decades, taking it public in 1997; today its products are sold in more than 40 countries. The stadium came at a cost of CA$ 17 million, of which CA$ 7.5 got donated by the Saputo family, owners of the Impact. 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 Saputo Family. Businessman most famous as the President of the Canadian professional soccer team the Montreal Impact. Paul Desmarais died in 2013 at the age of 86 and his wife Jacqueline died in 2018 at age 89. According to Forbes, Emanuele Saputo is worth $5.70 billion USD ($6.9 billion CAD). At the tender of age of 29, Alain Bouchard opened his own convenience store in 1980 at the age of 29. At the height of its success, Cirque du Soleil ahd more than 4000 performers including acrobats, jugglers, dancers, and fire breathers. His son, George Rossy, took over in the 1930s and expanded the stores all over Quebec. Saputo produces, markets, and distributes a wide array of dairy Going from entreprenneur to banker, Desmarais made acquisitions in different sectors such as pulp and paper and media. Budgeto is the first easy-to-use, affordable and reliable online budgeting tool designed specifically for small and medium-sized businesses. . + The Ultimate Guide to Life Insurance Medical Exams. At Saputo, our best comes from our people. In 1990, he was promoted to president and chief operating officer of the Dairy Products Division for the United States. History Of CF Montreal: Founded In 1992. 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. According to Forbes, Bouchard is worth about $4.2 billion USD ($5.08 billion CAD). His son, Lino Jr., who has served as president and CEO since 2004, succeeded him as chairman. 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. The Saputo family immigrated to Montreal, Canada in the 1950s with teenaged Emanuele, and they continued their cheese business. Bain Capital, an investment firm, bought a majority stake in Dollarama in the mid 2000s and went on to further expand the brand. Second to Ontario when it comes to the provinces with the most billionaires, Quebec is home to some of the richest people in Canada and the world. [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. Joey Saputo was born on the 25th of September, 1964. Alimentation Couche-Tard has a market capitalization of $48.69 billion on the TSX. Saputo (SAP) Shares Cross Below 200 DMA In trading on Tuesday, shares of Saputo Inc (Toronto: SAP) crossed below their 200 day moving average of $48.13, changing hands as low as $47.32 per. Fido is still a household name 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? The elder Saputo's father, Giuseppe, founded the business in 1954 with $500 and a bicycle for deliveries after immigrating to Canada from Sicily. He also provides transportation to company employees in an effort to get more cars off the road. 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. 100 votes, 33 comments. Thanks for contributing to The Canadian Encyclopedia. With the addition of newspapers, magazines and television channels, he expanded into the rest of Canada and the US. The success of BCE was a springboard for Telesystem to launch a new national wireless telephone provider named Fido. Our team will be reviewing your submission and get back to you with any further questions. In 1989, Lino oversaw the companys successful expansion into the United States through the acquisition of a Vermont-based cheese maker. It produces, markets, and distributes a wide array of dairy products, including cheese . 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. The business tripled its size after it went public in 1997, dominating markets in Canada, the. 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. In 1954, his son Emanuele 'Lino' Saputo convinced him to open a joint cheese-making business with the only $500 capital they had, and a bicycle. trend for Italians immigrating to Canada. Photo by Ryan Remiorz/The Canadian Press files. Fayers fintech innovation attracted the likes of Goldman Sachs as investors. Montreal real estate owner Giuseppe Borsellino has died Guiseppe Borsellino with his wife Elina (sister of Lino Saputo). Visit our Community Guidelines for more information and details on how to adjust your email settings. Welcome to, et bienvenue , r/Canada! He would be Lino's inspiration and motivation to start his own company. They helped retailers, both online and offline, process credit and debit payments without the help of banks and, In 1955, he opened up the doors of what would become one of the worlds most successful investment firms, Jarislowsky Fraser Limited. Members of the Saputo family have just sold $7 million worth of shares in the Montreal trucking company TFI International. The Impact was the first Canadian club, and the . 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. According to Forbes, Robert Miller is worth $2.00 billion USD ($2.42 billion CAD). According to Forbes, Guy Lalibert is worth $1.20 billion USD ($1.45 billion CAD). At first, the 15-year-old Lino found the move difficult, and longed to return to Sicily. Over the next few years, the company bought stores across Canada and around the world, notably Perrette and Provi-Soir. Both foundations have made major contributions to hospitals, health, communities and education in Quebec, Canada and beyond. In 1997, it became a publicly traded company and tripled in size following the acquisition of Stella Foods in the US. [3], Saputo owns a significant stake in a trucking company, TransForce, and has extensive investments in real estate, forest products, hotels and golf courses. 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. Right into the 21st century, much of Linos interests remained in overseeing the growth of Saputo Inc. 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. New to Canada? SAPUTO ADDS NEW PLATFORMS IN AUSTRALIA AND THE UK. It was Power Corporations foray into insurance and financial services that made it one of Canadas largest companies. Among the top 10 dairy producers in the world, the $16-billion multinational Saputo sells its milk, cheese, yogurt and other goods under dozens of different brand names around the globe. Please try again. Company - Public (SAP) Industry: Food & Beverage Manufacturing. Former operations chief to the Savoie real estate family, Auger is chief executive of Crysalia, a Montreal-based consultant which started up in May. document.write(new Date().getFullYear()) Saputo Inc. All right reserved. Saputo, 82, has a net worth estimated at $6.5 billion and is one of the richest people in Canada. 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. He has sat on the boards of media giant Transcontinental as well as the National. 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