Milo Shantz
From The Waterloo Way Wiki
Milo Shantz was born in the township of New Hamburg, Ontario in 1932 and was raised by hard working, industrious Mennonite parents. From a young age, Shantz showed a entrepreneurial spirit and willingness to take risk. At the age of 13, he started buying and selling pigs, and at the age of 21, along with a partner, bought 500 commercial meat turkeys. By 1958, he had made it a family business with his father and brother, and involved employees as shareholders. Shantz' early involvement in the poultry business led to the development of Hybrid Turkeys in 1970, with which he was actively involved with until 1981 when the company was sold to British Petroleum. Today, the company is one of the two major turkey breeding companies worldwide with 14 farms, two hatcheries and affiliate operations in Brazil, Hungary and Ireland.
In 1975, Shantz had a local investment in Hoffman Meats Ltd., buying the Hog Processing company along with Don Martin and Mark Hoffman as partners. The company was later sold to Gainers Inc., a meat packing conglomerate.
Soon in 1981, Milo Shantz founded the Mercedes Corporation, while the village was in somewhat of a state of disrepair. Shantz' interest in the village of St. Jacobs began with the opening of the Stone Crock Restaurant which was a former Zehrs. In the following twenty-five years, Shantz' involvements, through various companies and shareholder groups, have been extensive. The most notable of these include the St. Jacobs and Waterloo Farmers' Markets, the Ontario Livestock Exchange, the St. Jacobs Outlet Mall, a number of rental properties, and six long-term care homes for the elderly. Shantz vision has put St. Jacobs on the international tourism map. People were streaming to St. Jacobs to
learn about Old Order Mennonites and to learn more about their beliefs and theology. The more visitors who flocked in, the more opportunity there clearly was for re-adaptive use of old structures, redevelopment, and turning St. Jacobs into a countryside destination. By 1988, Mercedes Corporation and Stone Crock Inc., owned 17 of the 36 commercial properties in or around St. Jacobs. Mercedes with real estate assets of $27 million, had revenues of $16.4 million.
Then in 1997 Mercedes was sold to Consolidated Properties, a publicly-traded company on the Toronto Stock Exchange for $11.5 million. Milo Shantz served as chairman of Consolidated on the board of Directors to have control over the operations of Mercedes.
In 2001, Mercedes Holdings Corp., a newly-incorporated business owned by a group of investors that includes Milo Shantz and his brother Ross Shantz bought Mercedes Corporation for $10.2 million dollars and return the company to private ownership. Mercedes states this will put it in a better position to develop its tourist properties and nursing home business.
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Personal
Born in the township of New Hamburg, Ontario in 1932. Died January 6, 2009.
Grew up on a 40.5 hectare farm. Brother Ross Shantz has been involved with most of Milo Shantz's ventures and was the President of Mercedes Corporation.
Shantz married Laura(Martin)and they have 5 children.
Milo Shantz and his family belong to a modern branch of the Mennonite Conference of Eastern Canada. Unlike traditional Mennonites, Shantz does not wear just black or live without modern inventions. When asked about his wealth and lifestyle, Shantz reflected, "Materialism is something we, as Mennonites, think of constantly. We want to be good stewards of our possessions. In comparison to what I have available, I think I am trying to live a lifestyle in keeping with my beliefs."
Vision and Leadership
Shantz has said he received good advice just by listening to a lot of ordinary people, and he used some business practices he learned by watching a Mennonite group help entrepreneurs in Third World countries. Shantz applied this to the Stone Crock restaurant and the incubator role Mercedes Corp. played in getting artisans - most of them first-time business owners - established in the village to attract tourists.
In 1971, St. Jacobs was dying as a commercial centre. Shantz, the Mennonite Central Committee and the local chamber of commerce realized people were attracted to the area to see the horse-drawn buggies and get a glimpse of the culture of the Old Order Mennonites who lived in the area.
The goal, Shantz suggested, was not to garishly exploit the Mennonites as a tourist attraction, as entrepreneurs had done with the Amish around Lancaster, Penn., but to serve the tourists by doing something with downtown St. Jacobs.
"Here in Hespeler, I wish you could think of something cultural. . .that you could grab hold of," Shantz said. "That was awfully important to make the restaurant a success and, later, the village a success."
Innovation and Achievement
Milo has received a number of awards including the Order of Canada. He helped found Habitat for Humanity in Canada twenty years ago was a driving force in bringing U.S President Jimmy Carter to Waterloo in 1993, as part of the "Jimmy Carter Work Project".
On March 23, 1991, Shantz was honored for his contributions to the community at the annual Mayor's Dinner.
Milo Shantz was recognized by Wilfrid Laurier University where he was awarded an Honourary Doctorate of Laws in 1993.
Mercedes Corporation received the prestigious Business Achievement Award from the Ontario Chamber of Commerce.
CTV CKCO's Community Champion series has recognizing Milo Shantz with a story that air Thursday February 17th, 2006 during the CKCO News at six o'clock.
Growth Development Strategy
A fundamental ingredient in the businesses created and inspired by Milo Shantz has been employee ownership. From the beginning he sought out partners who were willing to share risk through investment. This concept has grown and expanded in line with the growth and development of Mercedes Corporation and the Stone Crock Inc. This same philosophy have been transferred to the small business tenants of St. Jacobs and the Farmers Market tenants. The concept has more than merit - it has results. In addition to the St. Jacobs Farmers' Market and Flea Market, Mercedes Corporation owns the Waterloo County Farmers Market, the St. Jacobs Factory Outlet Mall, the St. Jacobs stockyards and seven properties in the village of St. Jacobs, including the Riverworks and Mill Merchants buildings. Mercedes, and the businesses indirectly connected with, employs over 1,500 people. The majority of these are either share holders or are small business owners or vendors. Shantz has also pursued a strategy of fostering growth for new businesses that serve both visitors and townspeople. Many tenants that are just starting out their business were given the option to pay rent on a percentage of sales basis, allowing them to get established with relatively low overhead costs.
Community Involvement and Contribution
Shantz' marketing, financial and operational skills were critical to the development of St. Jacobs as an international tourist destination. This allowed the Waterloo Region to display its vibrant agricultural heritage of authentic Farmers Markets, hundreds of local shops and fine restaurants.
Shantz was also involved in numerous community and church related organizations, including the Mennonite Economic Development Association, which is leader in micro-enterprise development, and Habitat for Humanity which builds affordable housing around the world.
Mersynergy Charitable Foundation was created in 1983 as a vehicle through which to receive and distribute charitable gifts. The Foundation has close involvement with Mercare Homes, a residence for psychiatrically disabled individuals, foster care throughout Southern Ontario, the St. Jacobs Schoolhouse and Church Theatres, and the St. Jacobs Daycare.
Milo and Laura Shantz donated land at the corner of Weber St. and Benjamin Road to the Waterloo North Mennonite Church began which began as a "church plant" by the Inter-Mennonite Conference (Ontario), with special assistance from the Erb St. Mennonite Church, the St. Jacobs Mennonite Church and the Waterloo-Kitchener United Mennonite Church. File:Image:Example.jpgImage:Example.jpg
