HempWell Ltd is set to enter an exciting new phase of growth following a landmark deal with JJ Double Gold, a fitness and recovery natural nutrients brand co-founded by double Olympic Taekwondo gold medallist Jade Jones OBE and tech entrepreneur, Richard Groves, of Active Digital.

JJ Double Gold has acquired an equity stake in HempWell in a move that will see a phased multi-million-pound investment over the next three years to accelerate HempWell Ltd’s growth ten-fold with the projected valuation of £10 million by 2029.

The investment will support a significant expansion of HempWell’s production capabilities, including the acquisition of a bespoke manufacturing facility on the outskirts of York and a major overhaul of its manufacturing infrastructure. Plans also include the introduction of cutting-edge technology for a dedicated nutraceutical gummy production line.

Bringing JJ Double Gold under the HempWell umbrella will enable the business to diversify into new markets and broaden its product portfolio beyond CBD (cannabidiol), with opportunities across mental health, women’s health, sports performance and recovery. The partnership will also support increased investment in branding and wider marketing activity as the business enters its next phase of growth.

Founded seven years ago by husband-and-wife team Phil James and Lisa McWilliams, HempWell has established itself as one of the UK’s leading privately owned CBD wellness businesses, building its reputation on transparency, natural ingredients and customer-focused service.

Lisa McWilliams, CEO of HempWell Ltd, explained: “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.

“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.”

The use of AI and the integration of cutting-edge technology will become more prominent in the future growth of the business, led by Richard Grove’s digital consultancy business, Active Digital.

Phil James, Director of HempWell, said: “Technology and AI will play an increasingly important role in future-proofing the business, allowing us to scale efficiently as we grow. From production and fulfilment through to how we understand and serve our customers, there are huge opportunities to use technology to make HempWell even more efficient and responsive.

The merger and investment will support HempWell’s ambition to become a significant UK player across the wider wellness, sports and recovery markets, while retaining its Yorkshire roots and continuing to invest in its people, products and manufacturing capabilities.