A York-based wellness business with a retail outlet in Harrogate has secured investment from a company co-founded by double Olympic taekwondo gold medallist Jade Jones OBE, in a deal intended to accelerate its growth and expand its manufacturing operations.
HempWell Ltd has agreed a deal with JJ Double Gold, which has acquired an equity stake in the business. The agreement involves a phased multi-million-pound investment over the next three years, with HempWell targeting a valuation of £10 million by 2029.
The investment is expected to support the expansion of HempWell’s production capabilities, including plans to acquire a manufacturing facility on the outskirts of York and introduce a dedicated production line for nutraceutical gummies.
HempWell sells CBD-based wellness products and has three retail outlets, in York, Brighton and Harrogate, alongside an online business serving customers internationally.
The partnership will also allow the company to expand beyond CBD into wider wellness markets, including products aimed at women’s health, sports performance and recovery.
Expansion plans
HempWell was founded in 2017 by husband-and-wife team Phil James and Lisa McWilliams. The company says it currently employs 15 people and has developed its business around the production, retail and marketing of CBD-led products.
Lisa McWilliams, chief executive of HempWell, said the investment would provide resources to increase manufacturing capacity, accelerate product development and enter new markets.
Lisa McWilliams, chief executive of HempWell Ltd, said: This is a hugely significant milestone for HempWell and one that marks the beginning of an exciting new chapter. We’ve built a strong, trusted brand and a loyal customer base, and this investment gives us the opportunity to take that success to the next level.
JJ Double Gold was co-founded by Jones and technology entrepreneur Richard Groves, who also founded digital consultancy Active Digital.
Jones said she was looking forward to working with HempWell as it expanded its business.
Jade Jones OBE, co-founder of JJ Double Gold, said: HempWell has a wealth of expertise in this area, and I’m excited to be part of the journey and help take the business to the next level.
The companies also intend to make greater use of technology and artificial intelligence as the business grows, including in production, fulfilment and customer service.
Harrogate connection
HempWell opened its Harrogate retail outlet in 2025, adding the town to its existing locations in York and Brighton.
The proposed manufacturing expansion is centred on the York area. The companies have not announced how many additional jobs the investment could create, the precise value of the investment or the size of the equity stake acquired by JJ Double Gold.
The £10 million valuation is a target for 2029 rather than a confirmed valuation under the agreement.
Further details of the investment and the proposed manufacturing facility have not yet been announced.