Former Curaleaf CEO Joe Bayern to Lead New MM Brands After BellRock Deal

Newly formed company MM Brands announced this week that it had purchased the assets of Denver-based multistate operator BellRock Brands out of receivership through an investment led by KEY Investment Partners. Former Curaleaf CEO Joe Bayern will serve as the new company’s incoming CEO.

BellRock, a multistate operator focused on consumer packaged goods, built a broad lineup of products for the consumer cannabis market, including edibles, infused beverages, topicals, tinctures, transdermal patches, concentrates and pet-focused CBD products. The BellRock portfolio boasted established names such as Dixie Elixirs, Rebel Coast, Défoncé and the popular Mary’s family of brands, including Mary’s Medicinals, Mary’s Nutritionals and Mary’s Tails. The company entered receivership in March 2024.

MM Brands’ purchase of BellRock assets was completed via an investment from KEY Investment Partners, a Denver-based asset manager with over $50 million in assets under management. Founded in 2018, the company provides investment management and client services to investors seeking to capitalize on the rapid growth of the U.S. cannabis market.

Currently, MM Brands products are available in 11 markets, including California, Michigan, Missouri and Maryland. Jordan Youkilis, founding partner of KEY Investment Partners, said the new company will leverage its strong brand heritage and the growing national conversation around cannabis, health and wellness, while differentiating its brands as responsible, education-focused industry leaders.

“The growing consumer interest in wellness products combined with the potential for cannabis rescheduling on the horizon makes this the perfect deal at the perfect time,” Youkilis said in a statement from the company. “Mary’s Medicinals is a powerhouse brand known for its science-driven approach to transdermal patches, topicals and tinctures that deliver precise, consistent dosing. We believe the current environment and rescheduling will really unlock its potential, and this will be a huge focus of the newly formed MM Brands with Joe at the helm.”

New MM Brands CEO Shares Plans for 2026

MM Brands has named former Curaleaf chief Joe Bayern as the company’s incoming CEO. In an online interview with IgniteIt, he shared the company’s strategy as it gets off the ground.

“The thesis here is to create a more brand-focused omni-channel CPG model than what typically exists with the big MSOs, vertically integrated players in the US cannabis industry,” Bayern said. “We are going to serve as a platform to try to create a compelling portfolio of brands to be able to meet the needs of consumers in the cannabis industry.”

The launch of MM Brands comes as the Trump administration weighs a proposal to reschedule cannabis under federal drug laws, while another initiative would launch coverage for CBD products for Medicare and Medicaid patients. Despite the positive atmosphere, however, Bayern is tempering expectations for change, citing his years of experience with the cannabis industry.

“I’ve learned at least one thing, which is, don’t speculate on what’s going to happen in timing in Washington, and don’t try to use logic or common sense to predict when bills will be passed,” he explained.

Even with this knowledge, however, Bayern says the current climate appears primed for change in 2026.

“This time around, there’s a lot more concrete discussion going on about how this is going to be implemented, especially as it relates to potentially rolling it out through Medicare and Medicaid for CBD and other minor cannabinoids,” he said.