In a recent development, BrewDog’s founder, James Watt, expressed deep sorrow following the company’s acquisition by a US corporation. This transaction led to the closure of several bars and the loss of numerous jobs.
Tilray Brands acquired BrewDog for £33 million, resulting in the shutdown of 38 bars and the termination of 484 jobs that were not part of the deal. Individuals who had invested in BrewDog through the “equity for punks” crowdfunding rounds also faced disappointment.
In a social media post following the acquisition, Mr. Watt reflected on the challenges of the past week, admitting to regrets and acknowledging the difficulties faced. He mentioned the mix of highs, lows, successes, failures, and the unconventional journey of building BrewDog.
Initially co-founding BrewDog in Aberdeenshire in 2007, Mr. Watt transitioned from CEO to the role of “captain and co-founder” in 2024. Expressing his remorse for the impacted team members and investors, he emphasized the learning curve and the wish for different decisions in hindsight.
Mr. Watt highlighted the rapid expansion and diversification of BrewDog, recognizing missed opportunities in crisis management. He expressed regret for the inability to salvage jobs and investments, extending gratitude to the departing team members and equity punks for their contributions and belief in the company.
Under the new ownership, Tilray will assume control of BrewDog’s assets, including the brewery in Ellon and The Hop Hub in Motherwell. Only 18 franchise BrewDog bars will continue operations in the UK and internationally.