BSP Life, the leading life and health insurance provider in Fiji, has announced the divestment of 40% of shares in Future Farms Pte Limited (trading as Rooster Poultry), a prominent poultry producing company, to the Fiji National Provident Fund (FNPF).
Michael Nacola, Managing Director at BSP Life, said, “This strategic transaction marks a significant milestone for the two largest institutional investors in the country and we are delighted to partner with our national provident fund on this high performing asset. Future Farms Pte Limited is one of our success stories and a blue-chip investment. 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.
The Rooster brand complies with globally recognised standards under its ISO9000 certification and supplies major supermarkets, hotels and restaurants across the country. The business has significant growth plans, including exports and expansion into other product lines. FNPF’s acquisition of shares is timely and will support this endeavour.”
Mr Nacola added, “The Rooster brand has also been active in community engagement. Through major sponsorships, it has supported up-and-coming talent, particularly in women’s rugby. Just as importantly, the committed team of around 400 staff who are predominantly based in Ba, have supported the growth of the Ba economy.”
FNPF Chief Executive Officer Mr Viliame Vodonaivalu said: “FFL serves as another strategic investment for the Fund, aligning with our portfolio diversification and ensuring sustainable returns for our members. This acquisition is timely as it capitalises on the resilience and rapid growth in the consumer staples sector.”
“The Fund is committed to responsible investing, prioritizing companies that demonstrate strong corporate citizenship and environmental stewardship. Rooster Poultry exemplifies these values through its proactive approach to sustainability, community engagement and ethical governance, making it an ideal investment choice. Our decision to invest in Rooster Poultry followed an extensive due diligence process, ensuring that it aligns to our investment objectives and long-term value creation for our members,” said Mr. Vodonaivalu.
“We’re excited about this partnership and look forward to capitalizing on more opportunities together.”
Rooster Poultry is renowned for its commitment to excellence and quality, having scooped the President’s award in 2018 and 2021 and achieved international ISO 9001:2015 Quality Standard and ISO 22000:2018 Food Safety Standard Certification.