Silverpeak Corp, one of the larger cannabis retail chains in Colorado, is selling its seven stores and a cultivation license, MJBizDaily has confirmed.
The assets will go on the market Thursday, according to the brokerage handling the sale.
The stores include five adult-use retail licenses and leases in Denver, Glenwood Springs, Louisville and Parachute as well as two dual retail licenses and accompanying leases in Denver and the Silverpeak’s flagship location in Aspen, according to marketing materials from San Diego-based brokerage Green Life Business Group.
In 2023, the seven stores generated revenue of $16.2 million and Silverpeak’s 25,000-square-foot cultivation operation in Basalt generated revenue eclipsing $5.1 million, according to marketing materials.
Green Life CEO Drew Mathews said he expects the assets to fetch $16 million-$20 million in the private sale.
Interested buyers must submit offers by June 20.
“Everyone has to submit their best offer by then,” Mathews told MJBizDaily, “and then the seller will review them and move forward.”
Green Life Business Group, which has completed more than 300 cannabis business transactions, is representing the receiver in the ongoing liquidation of High Times.
Chris Casacchia can be reached at chris.casacchia@mjbizdaily.com.
