Michael Latifi

Michael Latifi is an Iranian-Canadian businessman and entrepreneur who founded Sofina Foods Inc., a Markham, Ontario-based manufacturer of processed protein products, in 2006, becoming its Chairman and CEO. His company acquired Lilydale in a C$130 million deal in 2010,[1] and Santa Maria Foods ULC, an importer and distributor of specialty Italian brands, in 2012.[2]

Through the investment company Nidala (BVI) Limited, which is controlled by Latifi, he invested £200 million (around 270 million USD or C$350 million) in McLaren Group.[3][4][5] This makes him a 10% stakeholder in McLaren Group.[6]

As Michael is the father of Nicholas Latifi, the Canadian racing driver currently serving as Force India’s F1 development driver, the big investment led to speculations that Nicholas could be pushed from F2 racing into a more prominent role with McLaren. However, McLaren CEO Zak Brown has said this has not been part of any conversation prior to investment.[4]

References

  1. ↑ "Sofina Foods to Acquire Lilydale in $130M Deal - Foodservice and Hospitality Magazine". foodserviceandhospitality.com. Retrieved June 10, 2018.
  2. ↑ "Sofina Acquires Santa Maria - Foodservice and Hospitality Magazine". foodserviceandhospitality.com. Retrieved June 10, 2018.
  3. ↑ Daan de Geus (May 21, 2018). "Father of F2 Racer Nicholas Latifi Becomes McLaren Group Shareholder in $270M Deal - The deal has nothing to do with his son's racing career, however". TheDrive. Retrieved June 10, 2018.
  4. 1 2 Scott Mitchell; Jack Benyon (May 29, 2018). "Nicholas Latifi: Dad's McLaren investment paints wrong picture of me". Autosport. Retrieved June 10, 2018.
  5. ↑ Trackworthy (May 22, 2018). "Canadian Michael Latifi Buys $350 Million Stake in McLaren Group". wheels.ca. Retrieved June 10, 2018.
  6. ↑ Reuters report (May 21, 2018). "Canadian businessman Michael Latifi becomes 10 per cent shareholder in McLaren with £203m investment". The Daily Mail. Retrieved June 10, 2018.
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