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Source: Cannabrew

CBD drinks brand Cannabrew has secured £250,000 of asset finance to fund its expansion. 

The Lancaster-based business plans to use the funds to extend its range, expand in the US and Europe, and bring its production in-house, opening its own taproom in March 2023.

The taproom, which will be located next to Lancaster University, will provide “a comfortable and inviting atmosphere for students, locals, and visitors to enjoy our beers and learn more about the benefits of CBD”, said Cannabrew founder Elliot Horner. 

“We are really excited to finally be producing our own products. We had a great year in 2022 testing the marketplace with crafty beers through some great collaborations with other breweries.”

Cannabrew is planning a US launch for March 2023, and is currently setting up a distribution network there. It will also begin exporting to the Italian market this year

Horner, a former rugby player, started the business in 2019 after spotting a growing demand for CBD products, which he used to aid recovery.

Cannabrew raised more than £210,000 from crowdfunding in May 2021; its latest funding comes as CBD suppliers have been attracting major investment over recent months. 

Take CBD drinks brand Trip, which secured a £10m investment to fuel its rapid growth in November 2022; or wellness brand CBD One, which hit its £225k crowdfunding target in the same month.