Ballpark Holistic Dispensary is out in LoDo, having sold the store to Silverpeak dispensary group. Already the owner of the Dab dispensary at 2748 West Alameda, Silverpeak has converted Ballpark Holistic to a Dab location, as well.
With what's now a network of three dispensaries between Aspen and Denver, Silverpeak is preparing to take over two more stores in Louisville, according to partner and COO Lance Perryman, who declines to name them. The new stores are part of a statewide expansion that also includes the acquisition of Sappy Brands, a solventless marijuana extraction operation, and the likely purchase of Edibar, an edibles manufacturer owned by Perryman.
Ballpark Holistic's former owners didn't respond to requests for comment, but the company's website says that the brand will continue to operate as a wholesale marijuana grower.
While several cannabis deals that grabbed headlines in 2019 have since been terminated or haven't yet panned out in 2020, Perryman says that Silverpeak's plans, which were quietly put in motion last year, remain on track. In fact, he says, sales are up across the board at his stores.
"COVID-19 has changed things in a lot of ways, but we've been lucky enough to get these assets up and going," Perryman says, noting that sales at the Ballpark store have steadily increased since Silverpeak took over, despite the lack of baseball games and walk-in traffic. "The restaurant scene and homeless situation in the area have been challenges, but we've been doing cool things, like happy hours, to get customers in."
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The Dab's west Denver location is a popular spot for marijuana concentrate users; the store averages 700 customers each day, and many are there to take advantage of various hash deals, Perryman says. Ballpark Holistic was a well-known stop for concentrate deals, too, which is why he and his partners stuck with the Dab branding when they took over the dispensary at 2119 Larimer Street.
"They already had a great concentrate clientele downtown, so it was perfect fit," he explains.
Although Silverpeak is currently a privately held company, Perryman and his partners have their eyes set on going public as part of their quest to become one of the biggest marijuana operators in the state. In the meantime, the group is still looking for more acquisition targets as it maneuvers through the challenges of operating during a pandemic.
"We are private right now, but we are going down the path toward going public," Perryman explains. "We're kind of watching to see the results, but we are watching to see who's interested, as well."