The Saputos are a big family, running an even bigger business.
With around 100 family members involved, Saputo Inc. is the largest dairy processor in Canada and one of the top 10 dairy processors in the world.
Patricia Saputo, a board member of Saputo Inc. and the Chief Financial Officer of Placement Italcan Inc., a holding company and family office, was the keynote speaker at this year’s Annual Business Family Day Celebration.
The event was organized by the Ivey Business Families Centre and the Canadian Association of Family Enterprise (CAFE) and brought prominent family businesses together to celebrate family-run businesses.
Carrying the name of a successful corporation gives family members a certain responsibility, Saputo told the audience. If a Saputo does something to jeopardize the name, there are implications.
“We teach our kids and our grandkids what it means to be part of this family and what it means to carry the Saputo name,” she said. “It’s all about education. We make them proud of who they are.”
Over the years, the family has learned the importance of balancing business with family. Saputo meetings could sometimes feel more like family gatherings, with all family members invited and plenty of food on the table.
“We didn’t just talk business during our meetings,” she said. “These times were more about what does it mean to be part of a family unit.”
The Saputo business has been passed on for generations, but the company doesn’t necessarily go to the oldest male family member – it goes to who wants it and who can handle it.
“You have to merit that position, you have to be capable, and you have to be able to take on those responsibilities,” Saputo said. “If you’re not, the whole family will suffer.”
The 2016 Family Enterprise of the Year Award
Following Saputo, John M. Rasenberg took the stage to accept the award for Family Enterprise of the Year for his company, J.M.R. Electric Ltd.
“I hope we can be an example to other families just as past award winners have been an example to us,” Rasenberg said.
J.M.R. is a family-owned and operated electrical and mechanical contracting company headquartered in Exeter, Ontario.
