Ballast Point Brewing Secures New Majority Investment from RMD Group and Cypress Ascendant

Ballast Point Brewing Co., the San Diego-based pioneering brewery born within the hopped walls of San Diego’s Home Brew Mart and approaching its 30th anniversary, today announced it has accepted a new majority investment by fellow longtime San Diego-based nightlife and hospitality operators, RMD Group. RMD Group joins multi-strategy investment firm Cypress Ascendant in guiding the future growth and development of Ballast Point alongside its current leadership, bringing decades of experience in managing some of the most energetic and impressive restaurant, nightlife, and hospitality concepts in Southern California to the forefront.  

“We’re tremendously excited about the new energy and expertise RMD Group and Cypress Ascendant are bringing to Ballast Point,” said Brendan Watters, co-founder and CEO of Kings & Convicts Brewing Co. “Our focus is on continually elevating Ballast Point, and bringing in a great local operator, and the financial structure to facilitate that evolution through long-standing relationships makes us especially eager for the future. Both RMD and Cypress Ascendant have been behind-the-scenes collaborators of ours for years, and now that we’ve formally brought them into the Ballast Point family, the sky’s the limit on what we hope to achieve together as we take Ballast Point to the next level,” he said. 

The investment aligns with RMD Group’s deep commitment to creating impactful and innovative hospitality experiences in San Diego, and to expanding its portfolio and enhancing its offerings by serving as the operator of one of the best beer brands in one of the biggest brewing cities in America. Cypress Ascendant’s investment will not only provide financial structure for the Ballast Point brand, but will also create synergies for Ballast Point with Cypress Ascendant partner companies. Collectively, the new partnership aims to strengthen Ballast Point’s offerings and elevate its tasting room experience, further cementing it as one of San Diego’s most beloved breweries for years to come. 

“This strategic move marks a significant, collective milestone for Ballast Point, RMD Group and Cypress Ascendant, and opens up new opportunities for growth and innovation for all parties,” said RMD Group Partner Mike Georgopoulos. “We’re excited to play a larger role in the evolution of Ballast Point’s history and to carry on Ballast Point’s great legacy into the future with great experiences and outstanding beer.”

“Cypress Ascendant is proud to bring much more than a financial investment to the Ballast Point brand,” said Cypress Ascendant CEO Bill Trzos. “We’re dedicated to driving large-scale value by also serving as a connecting partner, creating an ecosystem that will enable Ballast Point to grow strategically and with a focus on long-term growth throughout Southern California and beyond.”

The partnership is expected to drive synergies between RMD Group, Cypress Ascendant, and Ballast Point, including refreshed physical taproom spaces and new menu offerings that better align with the superior quality of Ballast Point’s acclaimed beers, as well as upgrades and additional developments that will delight Ballast Point enthusiasts and loyal patrons alike. Customers can look forward to experiencing elevated hospitality for which RMD Group is known, paired with the craftsmanship that has made Ballast Point a favorite among beer connoisseurs.

With this investment, Ballast Point Brewing Co. reaffirms its commitment to remaining focused on growing with the help of local investment and team expertise. Both companies are excited about the possibilities that lie ahead and are dedicated to delivering unparalleled experiences to consumers through this partnership.

About Ballast Point Brewing Co.

What started in 1996 as a small group of homebrewers who simply wanted to make great beer evolved into the team of adventurers known today as Ballast Point. A pioneering brewery born within the hallowed, hopped walls of San Diego’s Home Brew Mart, the complete art of the craft swims in the DNA of Ballast Point and informs both what’s inside and on the can. On March 2, 2020, Ballast Point officially returned to its iconic independent roots under the new ownership of San Diego-headquartered Kings & Convicts Brewing Co., and continues to be an internationally recognized leader in the industry with 5 taproom locations in California. From bringing a hoppy twist to a porter or adding four types of malt to its amber ale, to creating the breakthrough gold-medal winning Sculpin IPA, Ballast Point is known for adding its touch and asking if there’s a better way. With an emphasis on R&D and innovation, Ballast Point brews over 50 styles of beer and is distributed in select markets across the US and internationally. For more information, visit www.ballastpoint.com and follow our journey on Instagram and Facebook.

About Kings & Convicts Brewing Co.

Kings & Convicts is a privately held company headquartered in San Diego, CA. Conceived by an Englishman and an Aussie, Kings & Convicts started brewing for the public in 2017 and was built on the freedom of anti-authority and the spirit of fellowship. They brew ales and lagers inspired by the tales of convicts, royalty and the undercurrent of American gangsters. Every beer tells a story. Kings & Convicts’ beer is available on draft and in cans at its taproom and in bars and restaurants across Chicagoland and southern Wisconsin. For more information, follow along on Instagram and Facebook and visit www.kingsandconvicts.com.

About RMD Group

A driving force in the hospitality industry, RMD Group is a dedicated team of professionals with a proven approach for launching and operating successful nightlife, restaurant, and destination venues. The group was formed by three partners driven by a passion for hospitality who have built a team that brings extensive expertise in all areas of consulting, including strategy, marketing, development, management, accounting, systems, event sales and design. RMD Group works with the most talented and inspiring minds in the industry to elevate each venture to its maximum potential.

About Cypress Ascendant 

Cypress Ascendant is a highly diversified, small-market, boutique investment group with holdings across a range of Real Estate and Finance, Hospitality and Entertainment, as well as Consumer Goods. Relationships and connectivity are the cornerstones of the firm, backed by institutional-grade expertise and a founder-driven ethos. Cypress combines structured fund strategies with bespoke investment vehicles to drive outsized returns in areas where innovation meets overlooked opportunity. For more information, visit www.cypress-ascendant.com.