- Founded in 1977 and headquartered in Aberdeenshire, Harbro is a leading animal feed supplier renowned for its expertise in precision nutrition and specialty feed solutions;
- With a manufacturing capacity of 280k tonnes that sees it serve over 8k farms across the UK, Harbro produces high quality feed for beef, sheep, pig and poultry;
- In January 2025, Harbro partnered with investment firm, Convent Capital, to grow its presence in the UK agriculture supply market;
- The UK livestock feed market is set to grow at a compound annual growth rate (CAGR) of 3.4% by 2029, driven by demand for high-quality animal products, and the need for balanced nutrition to boost livestock productivity and efficiency[1].
Glasgow, 04 June, 2025: OakNorth, the leading digital bank for entrepreneurs, by entrepreneurs, has provided a £7.5m revolving credit facility (RCF) to leading livestock feed manufacturer, Harbro.
Founded in 1977 and headquartered in Aberdeenshire, Harbro is renowned for its expertise in precision nutrition and specialty feed solutions and is focused on improving animal performance and its customers’ profitability. With a manufacturing capacity of 280k tonnes from sites based in Scotland and England, which sees it serve over 8k farms across the UK, the business produces high quality livestock feeds for beef, sheep, pig and poultry. Running alongside its manufacturing operations, Harbro also offers a convenient and efficient on-farm mobile milling, mixing, and processing service, which allows farmers to produce sustainable diets, utilising home-grown cereals. In January 2025, Harbro partnered with Convent Capital, an investment firm specialising in the agri-food sector, to grow its presence in the UK agriculture supply market. The £7.5m RCF from OakNorth will further support this long-term growth, including the refinancing of existing debt and the funding of working capital.
Ross Baxter, CFO of Harbro Group, commented on the transaction: “Building further on our recent partnership with Convent Capital, this funding from OakNorth will strengthen our financial position and gives us the flexibility to continue investing in innovation, sustainability, and expansion. Michael and the team at OakNorth operated at speed and showed a deep understanding of the agricultural sector, which made them the ideal partner for us, as we enter our next phase of growth.”
Michael McGregor, Director of Debt Finance at OakNorth, added: “Harbro is a market leader in an essential and resilient industry, with a proven track record of performance and sustainability innovation. The management team’s strategic vision, combined with Convent Capital’s backing and the expected growth in the livestock feed market over the next four years, positions the business well for both organic and acquisition-driven growth. We’re delighted to support its continued success and look forward to watching its growth journey in the future.”
ENDS
Notes to editors
[1] AHDB – Rising demand for livestock feed drives compound feed market growth
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $17bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
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[1] AHDB – Rising demand for livestock feed drives compound feed market growth