York wellness firm secures multi-million investment deal
Summarised from 2 outlets · Updated 21 Oct, 16:29 · Archive
HempWell Ltd, a CBD wellness business, has secured multi-million-pound investment from JJ Double Gold.
HempWell Ltd, a York-based CBD wellness company, has secured multi-million-pound investment and an equity partnership with JJ Double Gold, a natural nutrients brand co-founded by Olympic taekwondo medallist Jade Jones and tech entrepreneur Richard Groves. The deal includes phased funding over three years, with the aim of increasing HempWell's valuation to £10 million by 2029.
The investment will enable the company to expand its production capacity and acquire a new manufacturing facility near York. Plans include launching a dedicated nutraceutical gummy production line using advanced technology. HempWell's CEO Lisa McWilliams said the partnership brings 'complementary expertise, investment, and ambition' and gives the company 'the resources to significantly increase our manufacturing capability, accelerate product development, and enter new markets'.
The company, which operates a store in High Petergate in York, plans to diversify beyond CBD into mental health, women's health, and sports performance sectors, with increased investment in branding and marketing.
How it is being reported
- Equity deal to drive growth of York firm into £10million businessA health and wellness company has secured a “hugely significant” investment and partnership.York Press · 21 Oct, 15:31
- Equity deal to drive growth of York firm into £10million businessA health and wellness company has secured a “hugely significant” investment and partnership.Gazette & Herald (Malton) · 21 Oct, 15:31
In this story: HempWell Ltd · Jade Jones · Richard Groves · JJ Double Gold · Lisa McWilliams · York
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