In a remarkable demonstration of what can be achieved in the retirement village sector, not one but two New Zealand retirement village operators have been elevated to their stock exchange’s benchmark NZX 50 Index. Summerset Group with a market cap of $475 million and Metlifecare with a value of $560 million were selected as being worthy of Top 50 ranking on the New Zealand stock exchange. This means that their businesses are sufficiently large and financially stable to replace the transnational food giant Goodman Fielder, with brands like Helga’s and Vogel bread, White Wings and Praise, together with and NZ Refining, who were ejected.
Interestingly, it is Metlifecare that Aveo parent FKP has a significant interest in, and wants to emulate their business model and public listing with Aveo here in Australia.