BrewDog’s founder, James Watt, expressed deep sadness following the sale of the company to a US entity this week, a move that led to the closure of several bars and the loss of numerous jobs.
Tilray Brands acquired BrewDog for £33 million, resulting in the closure of 38 bars and the termination of 484 jobs that were not part of the deal. Investors who participated in BrewDog’s crowdfunding rounds, known as “equity for punks,” also did not receive any returns.
In a social media post after the sale announcement, Watt admitted to facing a challenging week and acknowledged that there were many aspects he would have handled differently.
Watt, who co-founded BrewDog in Aberdeenshire in 2007, stepped down as CEO in 2024 but remained as the company’s “captain and co-founder.” Expressing sorrow for the affected team members and investors, he reflected on the company’s journey, highlighting both successes and shortcomings.
Tilray will now oversee BrewDog’s assets, including its brewery in Ellon, Aberdeenshire, and The Hop Hub distribution center in Motherwell, Lanarkshire. Only 18 franchise BrewDog bars, both in the UK and internationally, will remain operational.