Cattle breeding firm looking to expand after landing six figure funding package

Philip Halhead

A Lancashire-based global genetics business and well-known pedigree cattle breeder is set to expand with the support of a six-figure funding package.

Norbreck Genetics has agreed a funding deal with the HSBC.

Established in 2003 by third generation Lancashire farmer Philip Halhead, the business supplies bull semen, as well as live pedigree cattle, to agriculture markets in the UK and worldwide.

With the backing of the bank, the business has partnered with Semex, a long-term customer, to provide bulls for a major stud farm development in Hungary.

The partnership will allow Norbreck Genetics to double its supply of high quality bull semen for beef and dairy farmers in Europe, North America and Turkey over the next 18 months.

Following the investment, the business expects to increase its revenue by 20 per cent over the next 12 months, as well as growing its team at its base in Lancashire.

Norbreck Genetics also plans to increase its herd of female British Blue cows, which are in high demand.

This will involve an increase in the supply of both live pedigree cattle and embryos for the dairy and beef sectors.

In addition, the business plans to scale up the use of IVF to increase the speed and reliability of breeding.

Philip Halhead, founder and managing director of Norbreck Genetics, said: “The beef and dairy industry is under pressure due to the rising costs of production, so lowering the cost of our products without compromising on quality is vitally important for us to remain at the forefront of the industry.

“To do this, we’ve developed a modern and dynamic business model that makes us nimble and allows us to make strategic partnerships.

“With HSBC UK’s financial backing we’re now ideally positioned to increase our reach to customers across the globe and drive investment into new ideas and new practices.”

Andrew Smith, HSBC UK’s agriculture director for Lancashire, added: “Philip is a true entrepreneur and has grown the business year-on-year ever since he founded it.

“He has a great ability to provide farmers and suppliers what they want for their cattle breeding programmes; doing it through predicting trends and changes to this highly scientific and rapidly developing genetic-based sector.

“The HSBC UK agriculture team and I look forward to seeing the business develop these new market opportunities and are delighted to be able to support Norbreck Genetics as it moves forward to the next level.”

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