Executive Spotlight: Michael Beaudry

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mike Beaudry is the founder and CEO of HERBL, which has quietly become California’s largest distributor – with dozens of popular brands (Raw Garden, Select, and Garden Society, etc.) and 850+ dispensary customers. Mike came out of the natural foods space – he was president of UNFI as the organic industry came to the forefront. While Mike and HERBL are all about helping the CA cannabis industry grow to its fullest potential, Mike feels it’s equally important to ensure the success of the OG’s as this happens. HERBL is the largest supply chain and distributor of recreational cannabis in California serving 98% of all storefronts statewide. It has revenues of more than $250 million thus far in 2020; EBIDTA positive for 2020.

Full birth name: Michael Beaudry

Title: Founder and CEO

Company: HERBL Solutions (“HERBL”)

Years at current company: Four 

Education profile: 

High school was as far as I made it academically. My business education has always been in the real world. College was never a consideration and as an eager 18 year old fresh out of high school, I owned and operated a small Italian restaurant in Rhode Island that was financed by my parents. For the five years straight I worked 85+ hours a week–it was a crash course in learning how to run a business, and I didn’t know enough to stop. It was a business with a high failure rate and to me, failure was not an option. I bought it in 1982 and sold in 1987, and that was the education I needed to further my drive as an entrepreneur.

Most successful professional accomplishment before cannabis: 

Given where I am today, my most successful professional accomplishment prior to founding HERBL was certainly my time in the organic food space, and specifically as president of UNFI, the largest wholesale distributor of natural foods in the U.S. It prepared me for this endeavor in cannabis.

Cannabis is on the same trajectory of the boom of the organic foods space in the early 2000s, and the similarities are remarkable. Legalized cannabis is only here today because of all those who fought to establish it, and who never gave up on what they believed in. Like natural foods, cannabis has centered upon lots of smaller, quality brands developed by people passionate about their product and the plant. Today’s multi-billion natural food industry was also established by artisans who came together with a communal mission.

While president of UNFI, within ten years we rapidly scaled from a multi-regional company with $800 million in sales to a national company with $5 billion+ in the books. I see the enormous potential again now. With all that has transpired with the recent election and cannabis reforms, we are now more than ever on the cusp of the same boom.

Company Mission: To connect the cannabis community. 

Has the company raised any capital (yes or no): Yes

If so, how much?: Undisclosed 

Any plans on raising capital in the future? Yes

Most important company 5-year goal: In five years we’d like to have helped all of our partners, both brands and retail, meet each of their growth goals, and hence to be known for delivering exceedingly great services that create loyal customers, appreciative brands, and happy employees. I’d love to look back and feel we have lived up to our core principles of demonstrated passion, unrelenting integrity, flawless execution, and to have honored the legacy of California cannabis while helping create its future. 

 

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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