Significant milestone | FNPF acquires 40 per cent Rooster shares

Source: The Fiji Times
Author: Timoci Vula

The Fiji National Provident Fund (FNPF) has acquired 40 per cent shares of Future Farms Pte Ltd, trading as Rooster Poultry -- a move that will benefit the Fund and its 400,000-plus members.

Rooster Poultry's parent company BSP Life made the announcement yesterday saying the strategic transaction marked a significant milestone for the two largest institutional investors in the country.

"The Rooster brand has become a household name and has grown significantly in the last decade supporting our national ambition to be self-sufficient in poultry and reducing the need for imported product," BSP Life managing director Michael Nacola said in a statement.

Mr Nacola said while Rooster complied with globally recognised standards under its ISO9000 certification, and supplied major supermarkets, hotels and restaurants across Fiji, added the blue-chip investment also has significant growth plans, including exports and expansion into other product lines.

"FNPF's acquisition of shares is timely and will support this endeavour."

FNPF chief executive officer Viliame Vodonaivalu said an extensive due diligence process was conducted to ensure the investment aligned to their objectives and long-term value creation for members.

He said Future Farms served as another strategic investment for the Fund, aligning with its portfolio diversification and ensuring sustainable returns for members.

He added the timely acquisition will capitalise on the resilience and rapid growth in the consumer staples sector.

"The Fund is committed to responsible investing, prioritising companies that demonstrate strong corporate citizenship and environmental stewardship," Mr Vodonaivalu said.

"Rooster Poultry exemplifies these values through its proactive approach to sustainability, community engagement and ethical governance, making it an ideal investment choice.

"We're excited about this partnership and look forward to capitalising on more opportunities together."