In November, Rip Current Brewing co-founders, Paul Sangster and Guy Shobe, announced they were accepting offers from parties interested in investing in or acquiring their eight-year-old company, which includes a brewery in San Marcos and tasting room in North Park, and was named Very Small Brewery of the Year at the 2015 Great American Beer Festival. The duo was open to a wide range of offers, from people interested in joining the ownership team to entrepreneurs looking to acquire the company. The latter may have resulted in the end of the Rip Current brand, in name or simply as locals have come to know it. As it turns out, deals have been struck which will change up the ownership team, and that assemblage’s ambition is to double down on the brand through an upcoming full-scale reboot.
Sangster and Shobe received a great deal of interest in the company from numerous parties in and outside of San Diego County. In the end, two new investors were brought into the fold while a pair of original owners, Managing Partner and Brewmaster Sangster and John Boro, expanded their ownership percentages and now have the majority stake.
“Since we had a number of interested parties, we looked for potential partners with the right interests, skills and, most importantly, strong passion for craft beer,” says Sangster. “The two new owners have been around the San Diego beer scene in different capacities. Manny Ortiz and Matthew Holden have both had an interest in purchasing and operating a brewery for some time. They plan to participate in a broad variety of ways throughout the business, starting with leveraging their strong backgrounds in finance and accounting. Don’t be surprised to see them behind the bar or chatting with customers at both of our locations.”
Like Sangster, Boro and Shobe, newcomers Ortiz and Holden come with sturdy homebrewing roots and are longtime beer lovers. Enough that, when the opportunity to join the Rip Current team presented itself, they followed their passions with healthy, enthusiastic bids.
“I’ve been a homebrewer and fan of Rip Current for a few years now,” says Holden. “When the chance came to become a partner in this award-winning brewery, I couldn’t pass on the opportunity to be part of it and see what the future holds.”
Says Ortiz, “For me, it was important to pair up with the right team, one that shares the same philosophy, puts quality above quantity and has a vision for growth.”
The restructure also involves outgoing partners, the most notable of which is the aforementioned Shobe, who approached Sangster about opening a brewery after he was named the top homebrewer in the world at the 2011 National Homebrewers Competition. Since then, he has been highly involved behind the scenes, overseeing key aspects of the company’s day-to-day operations.
“Guy has been instrumental in our finding and creating the brewery and our North Park location, and has performed a number of roles within the business. He will be truly missed by the Rip Current family,” says Sangster. “This change will allow him to pursue his other passions. We wish him all the best and suspect you’ll see him at our taprooms when his busy schedule allows.”
“My decision to sell my interest in Rip Current was not an easy one. It’s definitely bittersweet, and I think when you start a business and take it from a concept to a somewhat-mature brand, you put so much into it that, when you decide to walk away, you leave a part of your soul behind,” says Shobe. “But I’m extremely proud of the brand we created, the wide array of quality styles we continue to produce, and how the San Diego craft-beer scene has embraced us. I will be eternally grateful for all the loyal, overly complimentary customers and, especially the hard-working Rip Current employees I’ve encountered along the way.”
Sangster says the ownership team’s immediate focus will be on navigating the pandemic and governmental regulations pertaining to it while planning for growth beyond the COVID-19 era. When appropriate, updates will be made to Rip Current’s advertising and branding. On the beer front, they will mix the old with the new.
“Our fans can still look forward to enjoying their favorite beers we have made over the years along with some new combinations of flavors and ingredients,” says Sangster. “We believe this change will help us get through this challenging period and focus on making great products that are in-tune with changing market demands.”
Rip Current Brewing’s headquarters is located at 1325 Grand Avenue, Suite #100, in San Marcos and its satellite tasting room and kitchen is located at 4101 30th Street in North Park