Meet the top family businesses driving Canada’s economy

Family businesses account for half of the country’s private-sector GDP and employ about 7 million workers

Marjo Johne  •  Canadian Family Offices
Published Jun 12, 2021  •  Last updated Jun 21, 2021  •  1 minute read
Food retailing giant George Weston Ltd. is the biggest family business in Canada. Pictured are the late W. Galen Weston, Hilary Weston and son Galen Weston.
Food retailing giant George Weston Ltd. is the biggest family business in Canada. Pictured are the late W. Galen Weston, Hilary Weston and son Galen Weston. Photo by Patrick McMullan

Family-owned businesses are a major driver of wealth and growth in Canada, accounting for half of the country’s private-sector GDP and employing about 7 million workers, according to a 2019 report from the Conference Board of Canada.

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On a global scale, Canada’s family-owned businesses continue to hold their place among the world’s elite. The country’s wealthiest family business, George Weston Ltd., climbed four spots on the Ernst & Young and University of St. Gallen Global Family Business Index, to a ranking of 32 in 2019, up from 36 in 2017.

Meanwhile, Power Corp. of Canada, which has the Desmarais family as a majority shareholder, rose up the list to 39, from 46 in 2017. Two companies – Husky Energy Inc. and Samuel, Son & Co. – fell off the list but were replaced by list newcomers ATCO Ltd. and Quebecor Inc.

Here are Canada’s top family businesses, based on the 2019 Global Family Business Index:

George Weston Ltd.

Weston family
Family’s share of company: 63.15%
Global rank: 32

Power Corp. of Canada SV

Desmarais family
Family’s share of company: 59.19%
Global rank: 39

Empire Company Ltd.

Sobey family
Family’s share of company: 61.86%
Global rank: 94

Fairfax Financial Holdings Ltd.

Watsa family
Family’s share of company: 85%
Global rank: 100

Bombardier Inc.

Bombardier family
Family’s share of company: 49.78%
Global rank: 101

Rogers Communications Inc.

Rogers family
Family’s share of company: 91%
Global rank: 152

Canadian Tire Corp. Ltd.

Billes family
Family’s share of company: 61.40%
Global rank: 163

Jim Pattison Group Inc.

Pattison family
Family’s share of company: 100%
Global rank: 175

Saputo Inc.

Saputo family
Family’s share of company: 43%
Global rank: 207

McCain Foods Ltd.

McCain family
Family’s share of company: 100%
Global rank: 247

Shaw Communications Inc.

Shaw family
Family’s share of company: 78%
Global rank: 427

ATCO Ltd.

Southern family
Family’s share of company: 84%
Global rank: 447

Quebecor Inc.

Péladeau family
Family’s share of company: 75.28%
Global rank: 484