7-digit figure for UK gin start-up

Gin entrepreneur Sally Wynter has just announced that she sold her CBD-infused gin Muhu last year for a “seven-digit figure” to Colorado-based New Frontier.

Wynter herself would be the first to admit it was close to a miracle that Muhu was created. She had no experience, no friends or family with money, no co-founder, no positive role models, and launched Muhu in her bedroom on a tiny £1,000 budget in 2019.

She was inspired to create the sweet hibiscus flavoured gin after a trip to Thailand. Muhu is infused with CBD, the non-psychoactive component of cannabis, to provide a more relaxing experience.

The future, however, of Muhu is uncertain. The company which bought it is now being sued by a number of plaintiffs for $427 million, according to the Daily Camera.

The lawsuit claims that Next Frontier Holdings bought hemp processor Treehouse Organics using an asset purchase agreement in 2020.

Payments on the notes were due Sept. 30, 2021, and Dec. 31, 2021, according to the lawsuit, and were not paid even though the defendants received a $10 million loan from a company, Jupiter Wellness Inc, and used the money, the lawsuit alleges, to buy two other companies. The lawsuit does not mention which companies these are.

New Frontier and subsidiaries have been in a growth mode in recent years and have added executives to its board and added brands to its line-up of products.

After 30,000 bottles of Muhu were sold, supply issues exacerbated by the pandemic forced Next Frontier Brands to alter the recipe and since then it has not come back to market.

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