EP347 From Basement Labels to a $12 Million Exit

What happens when four moms start making labels in a Hamilton basement and, 14 years later, get a call from a global industry giant? In this episode, host Colleen O'Connell-Campbell sits down with Julie Cole, one of the four co-founders of Mabel's Labels, to trace the full arc: from masking tape and permanent marker frustrations in the early 2000s, to building a fiercely loved e-commerce brand, to a reported $12 million acquisition by Avery Labels that closed in under six months. What makes Julie's story unique is the fact that she is still at Mabel's Labels a decade later, now as Senior Director of Public Relations, championing the brand she helped build. The conversation covers what buyers actually look for, why keeping your house in order is non-negotiable, how four co-founders (who were also family) navigated decisions without destroying relationships, and why selling your business does not have to mean falling out of love with it.

Key Takeaways:

Mabel's Labels was founded approximately 23 years ago by Julie Cole, her sister, and two university friends who married into the family. It started in a Hamilton basement solving a simple problem - kids were losing their gear, and there was no good labelling solution beyond masking tape and marker.

The four co-founders divided responsibilities by department (production, IT and finance, marketing, PR), which worked well early on but eventually created silos. Each founder became protective of their team's priorities, and the business reached a point where it needed one person overseeing the whole operation rather than four co-CEOs pulling in different directions.

Managing a co-founding team that is also family requires deliberate effort. The founders brought in a coach to navigate difficult growth decisions and to separate business disagreements from personal relationships - a practice Julie compares to Midday Squares' weekly "family therapy" sessions.

The acquisition by Avery Labels (a publicly traded company) happened fast - the initial call came in July, and the deal closed on New Year's Eve of the same year. Julie emphasizes this timeline is not normal and should not be expected.

Due diligence is where you can lose money. A letter of intent might come in at one number, but if the buyer finds problems, the offer shrinks. Julie's advice: keep your housekeeping in order from the start, not just when a deal appears.

The exit process is a full-time job. Having four co-founders meant on