BrewDog’s founder, James Watt, expressed deep sadness as the company was acquired by a US corporation, resulting in the closure of several bars and the loss of numerous jobs. Tilray Brands purchased BrewDog for £33 million, leading to the shutdown of 38 bars and the redundancy of 484 employees excluded from the deal.
Investors who participated in BrewDog’s “equity for punks” crowdfunding campaigns also faced disappointment. Watt shared his feelings on social media, describing the week as extremely challenging and acknowledging that he would have made different decisions given the chance.
Watt, who co-established the craft beer giant in Aberdeenshire in 2007, stepped down as CEO in 2024 to take on the role of “captain and co-founder.” He expressed sorrow for the dedicated team members who lost their jobs and the equity punks who did not see the desired returns on their investments.
Reflecting on the journey, Watt recalled the highs, lows, successes, and failures encountered along the way. He admitted to mistakes and noted that the company’s rapid expansion and failure to address crises authentically were regrets. Despite his desire to save every job and investment, Watt expressed his inability to do so.
Tilray will assume ownership of BrewDog’s facilities, including the brewery in Ellon, Aberdeenshire, and The Hop Hub in Motherwell, Lanarkshire. Only 18 franchise Brewdog bars, both in the UK and internationally, will remain operational. Watt thanked departing team members for their contributions and equity punks for believing in the business during its early stages.