A York-based health and wellness company has secured a “hugely significant” investment and partnership.
HempWell Ltd, a CBD wellness business, has received a multi-million-pound investment from JJ Double Gold, a natural nutrients brand co-founded by double Olympic taekwondo gold medallist Jade Jones OBE and tech entrepreneur Richard Groves.
The deal includes an equity stake and phased funding over the next three years, aiming to increase HempWell’s valuation to £10 million by 2029.
Lisa McWilliams, CEO of HempWell Ltd, said: "This is a hugely significant milestone for HempWell and one that marks the beginning of an exciting new chapter.
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"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."
The investment will enable HempWell to expand its production capacity, acquire a new manufacturing facility near York, and upgrade its infrastructure.
HempWell Store Group Celebrations pic from left to right – Lisa McWilliams, Jade Jones, Richard Groves and Phil James (Image: Pic supplied)
Plans also include launching a dedicated nutraceutical gummy production line using advanced technology.
The partnership will allow HempWell, which has a store in High Petergate, to diversify into new markets beyond CBD, including mental health, women’s health, and sports performance.
It will also support increased investment in branding and marketing as the company enters its next stage of growth.
Ms McWilliams said: "The partnership with Jade and Richard brings together complementary expertise, investment, and ambition.
"It gives us the resources to significantly increase our manufacturing capability, accelerate product development, and enter new markets, while remaining true to our core values.
"We’re proud that a business which started here in York is now entering this next phase of growth, and we’re excited about what we can build together over the coming years."
Jade Jones OBE, co-founder of JJ Double Gold, said: "Now more than ever, there’s a growing demand from consumers for ethically sourced, effective wellness products.
"I know this as much as anyone, having used natural nutrients extensively throughout my Olympic and current boxing career and understand the benefits they can provide in supporting performance and recovery.
"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."
HempWell was founded seven years ago by husband-and-wife team Phil James and Lisa McWilliams and has become one of the UK’s leading privately owned CBD wellness companies.
The business employs 15 people and operates retail outlets in York, Brighton, and Harrogate, with an ecommerce platform serving customers worldwide.
HempWell follows a seed-to-shelf model, overseeing cultivation, processing, product development, retail, and marketing of its CBD-led supplements and creams.