The entrepreneur who founded CBD gin brand Muhu on a shoestring £1,000 budget has revealed she cashed out in a deal understood to be worth a total of seven figures.
The gin brand, which former journalist Sally Wynter launched in late 2019 with a core sweet hibiscus flavour tipple, was quietly snapped up by American drinks firm Next Frontier Brands after less than a year on the market in September 2020.
Since the sale Wynter has kicked off a new business advising entrepreneurs and SMEs on bootstrapping, growth strategy and fundraising.
“Every part of the journey – including the exit – was a huge learning experience,” she told The Grocer.
“To go full-circle, especially as a solo entrepreneur, was an invaluable experience I will never forget and puts me in great stead for my next venture.
“Regardless of the craft boom, the industry today is extremely tough without money and connections,” she added. “The traditional route to market (on-trade seeding first, off-trade second) is just not viable for most small brands. Largely, brands doing well are focusing their time, effort and money online.”
However, since the sale – and Wynter’s exit from the business – the fate of the Muhu brand itself is not clear.
At the time of writing, it was not possible to order the gin from the brand’s website.
Neither was the product to be found on the Food Standard’s Agency’s recently published list of food and drink products linked to credible novel foods applications – currently a necessity for CBD products to remain on the market.
The Grocer has approached Next Frontier Brands – whose portfolio also includes Lincolnshire-based Bottomley Distillers, Snow Leopard Vodka, and coffee brand KonaRed – for comment.
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