Aibonito, Puerto Rico
Amidst the beautiful mountain ranges of Aibonito, in Central Puerto Rico, lies an exemplary poultry farm, a family agribusiness project that has continued to grow from one generation to another with the support of Puerto Rico Farm Credit (PR Farm Credit).
Andrés Núñez founded Hacienda Carian 17 years ago. This poultry farm, dedicated to rotisserie chickens, has over 80,000 square feet in its processing plant and produces nearly 84,000 chickens six times per year for its main client, To-Rico, the leading fresh chicken brand on the island.
Hoping to extend his legacy to the next family generation, Don Andrés sold the poultry operation to his eldest daughter Grisel Núñez. The transaction was financed by PR Farm Credit and completed in November 2015.
Grisel has been a part of the business since her childhood years. As a professional, she decided to join the family business after an unforeseen change in her professional career. Grisel decided to help her father on a full time basis to further develop the poultry business. Having completed a B.A. in Business Management, Grisel took on the administrative aspects of the operation, and was responsible for obtaining government incentives available to agribusiness projects, as well as implement procedures to increase efficiencies and profitability to the overall business operations.
The farm buyout was achieved with a $600,000 financing package provided by PR Farm Credit, and the institution’s full support and financing feasibility allowed her to include operational improvements and capital required for the business to continue growing.
“PR Farm Credit has always kept an open door policy with us”, added Grisel. The entrepreneur says she is also thankful to have the institution by her side to provide technical support in evaluating and assessment of business proposals. “They are a vital factor for our business growth and development” she added enthusiastically.
Throughout the years, the institution also has financed the first poultry stables, along with repairs and improvements, the purchase of equipment and machinery, as well as some solar energy infrastructure in June 2015. The latter solar project has helped reduce the monthly cost of energy at Hacienda Carian from $2,000 to just below $150.
“Without the support of PR Farm Credit, it is quite possible that Hacienda Carian would not be in operation today. A farm such as ours needs to be working year-round, taking on constant improvement projects that need funding for its proper development and ready to meet poultry production goals and standards as deemed by the local market. In order to stay on top of the game, a strong support from a financial institution is vital”, Grisel Núñez concluded.