# 4 co-founders, a 5-month sale, and what came after · Worth Owning · Horizon

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![](/images/logos/mabels-labels-ivory.png)Worth OwningEp. 07

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Worth Owning · Episode 07

# 4 co-founders, a 5-month sale, and what came after

Hosted by **Krystyn Harrison** · With **Julie Ellis**, Co-founder, Mabel’s LabelsNov 2025 · 54 min

0:0054:00

Watch or listen on[Apple Podcasts](https://podcasts.apple.com/us/podcast/julie-ellis-%2412m-exit-4-co-founders-and-finding/id1830558138)[Spotify](https://open.spotify.com/show/5hOpLGuAecUP1KyJerEMwC)[YouTube](https://www.youtube.com/watch?v=heAhP-7m94w)

## A 17-tab diligence list, then the hardest part: leaving

Overview

In 2003, Julie Ellis and three other moms started making personalized kids labels in a basement. A tiny magazine mention and a feature on The View turned Mabel’s Labels into a real business, and the four ran it as co-CEOs for 13 years. They grew to about 40 people and sold to Avery, part of CCL Industries, in a $12M exit that took 5 months from first call to close.

Julie shares what made the company ready. They built their own label software early, brought in advisers who knew more than they did, and used a tight one-year plan and budget to keep four co-CEOs aligned. When Avery called, they were already asking who should lead the next era, and they always took the call. Julie ran the deal room and worked through a 17-tab diligence list and the EBITDA add-backs.

Then the part nobody prepared her for. After closing she took 3 days off, became an employee overnight, and soon struggled to see her place. Once she left, she got stuck. Her advice to owners two years out: set up the structures and processes, and spend the same effort on what you want next, because you have to add before you subtract.

Chapters

What you’ll learn

01How four co-CEOs stayed aligned with a one-year plan

02What a buyer’s diligence list asks for, even when you are ready

03How EBITDA add-backs can raise the price of a multiple-based deal

04Why you should plan what you add before you leave

Where does your business stand today?

[Get your Optionality Score →](/optionality-score)

## More on the episode

Episode 07Nov 2025 · 54 min

Note: Krystyn, Matt and their guests may hold interests in companies discussed in this episode. Worth Owning is not financial, legal, tax or investment advice, and is for informational purposes only. Do your own research and speak with your own professionals before making any financial decision.

[Where this shows up in your businessHave you planned what comes after the sale?The Exit Partnership prepares the business for the deal and you for the life after it, with a Partner who has been through both.See the Exit Partnership →](/exit-partnership)

![Julie Ellis](/images/guests/julie-ellis.jpg)

Guest

Julie Ellis

Co-founder, Mabel’s Labels

Julie Ellis co-founded Mabel’s Labels with three other moms in 2003, ran it as one of four co-CEOs, and sold it to Avery, part of CCL Industries. She later ran a children’s products business for its founder and now coaches leaders.

[mabelslabels.com](https://mabelslabels.com)

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