Less than a year after being ousted from leadership posts at California-based MedMen Enterprises, former CEO Adam Bierman and ex-President Andrew Modlin have found a route back into the legal marijuana industry – working for a separate cannabis company headquartered in Santa Barbara.
According to multiple industry sources, the MedMen co-founders have been working for several months with Coastal Dispensary, which holds retail, delivery, distribution and manufacturing licenses in multiple cities around Southern California and the Central Coast.
Coastal is co-owned by Colorado cannabis entrepreneur Josh Ginsberg, who co-founded Denver-based marijuana chain Native Roots. Ginsberg and Bierman reportedly have a longstanding relationship.
Bierman and Modlin’s under-the-radar return has been met with skepticism – and amazement – that the two could find a home in the industry, given their high-profile fall from grace that garnered a feature story in Politico last May.
But some industry officials note there’s a reason multistate operator MedMen had such a meteoric rise to fame and fortune, which suggests Bierman and Modlin could bring value to Coastal.
Former MedMen staffers involved
Details surrounding Bierman and Modlin’s roles with Coastal remain sketchy, in part because company executives didn’t respond to multiple Marijuana Business Daily requests for comment.
Bierman and Modlin also could not be reached for comment.
But industry sources said the two have assembled a team of former MedMen employees and brought them to work for Coastal, in part to facilitate expansion plans for their newfound corporate home.
“It’s building the retail identity. I think it’s putting together the brand and stuff like that. They’re trying to grow and scale,” said a former Coastal contractor who requested anonymity to speak freely to MJBizDaily. “(Bierman is) definitely helping them scale that out.”
Published: March 03, 2021
Founder & Interim Editor of L.A. Cannabis News