Grow Group (“Grow” or “the Company”), a leading UK MHRA-licensed medical cannabis manufacturer and distributor, today announces that it has completed a recapitalisation of its balance sheet, strengthened its leadership team and, following the completion of the transition to its UK manufacturing facility, expects to generate healthy EBITDA in 2027.
The recapitalisation, completed on Tuesday 3 November 2026, comprises:
- £2.0m of new cash equity for working capital, subscribed principally by existing shareholders.
- £10m in debt converted to equity or maturity extended.
New leadership
Clare Holliday joins Grow as co-CEO. Clare was previously Head of Cannabis at IPS Pharma and led our joint venture alongside Pierre Van Weperen, building it to be one of the UK’s largest cannabis importers and distributors. Clare will lead the business alongside Pierre, previously Grow’s UK Managing Director, as co-CEOs. Ben Langley, who founded Grow in 2017 and has led the company as CEO since then, remains a Non-Executive Director of the Company having successfully closed the recapitalisation efforts.
Grow Group’s UK manufacturing facility is now fully operational. Image Credit: Marwan Elgamal (www.endo.agency)
UK manufacturing transition complete
These measures mark the final stage of Grow’s transition to the UK cannabis manufacturing facility it acquired with Avida Medical in July 2025. The facility is now fully operational and is delivering rapid growth. It is expected to drive Grow to strong EBITDA positivity in 2027.
The facility is now releasing new “generation 2.0” medical cannabis product SKUs every month. The expanding range gives prescribers and patients more choice, with every product made in Grow’s own UK facility.
Focus on partnerships and growth
The restructuring was supported principally by existing shareholders and lenders. A parallel M&A process attracted strong interest from strategic and financial parties. Grow has chosen to remain independent and will focus on converting that interest into strategic partnerships and further investment.
Clare Holliday, co-CEO, said: “We’re launching new products every month, all manufactured in our own UK facility, which gives prescribers and patients more choice and consistent quality, in addition to our best-in-class portfolio of cannabis flowers. I’m delighted to be joining Pierre and the team as that pipeline gathers pace.”
Pierre Van Weperen, co-CEO, said: “Moving manufacturing in-house was the biggest change in Grow’s history, and it’s now delivering. Volumes at the site are growing quickly, and we expect it to take the business to strong EBITDA generation in 2027.”
Ben Langley, Founder and Director, said: “The recapitalisation was one of the most multi-faceted processes I’ve been involved with but the result is fantastic. I’d like to thank our existing shareholders, new shareholders, and lenders, whose new money, debt conversion and extended terms have put Grow on a firm footing and maintain our independence. The interest we received from potential partners shows the value of what the team has built. I’m thrilled to announcement Clare’s appointment and Pierre’s promotion and look forward to supporting them both from the board as they turn that interest into growth.”
