BrewDog’s founder, James Watt, expressed deep sadness following the acquisition of the company by a US corporation this week, leading 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 484 job redundancies that were not part of the deal. Investors who participated in BrewDog’s crowdfunding rounds under the “equity for punks” scheme also faced disappointment.
In a social media post following the acquisition announcement, Mr. Watt described the week as incredibly challenging, acknowledging that there were many aspects he would have handled differently. Watt, who co-founded BrewDog in Aberdeenshire in 2007, transitioned from CEO to “captain and co-founder” in 2024.
Expressing sorrow for the team members who lost their jobs and the equity punks who did not see the returns they desired, Watt reflected on the company’s journey, noting both successes and failures. He admitted to the challenges of managing rapid expansion and responding authentically to crises faced by the company.
Despite regrets over the inability to save jobs and investments, Watt thanked departing team members for their contributions and expressed gratitude to equity punks for their early belief in the business. Tilray will now oversee BrewDog’s facilities, including the brewery in Ellon, Aberdeenshire, and The Hop Hub in Motherwell, Lanarkshire. Only 18 franchise Brewdog bars will continue operating in the UK and internationally.
