BrewDog’s founder, James Watt, expressed deep sorrow following the recent acquisition of the company by a US corporation. This transaction led to the closure of numerous bars and the loss of hundreds of jobs.
Tilray Brands acquired BrewDog for £33 million, resulting in the closure of 38 bars and the redundancy of 484 employees who were not part of the deal. Additionally, individuals who had invested in BrewDog through crowdfunding rounds known as “equity for punks” were left with no returns.
In a social media post following the acquisition, Watt shared that the recent events had been extremely challenging, acknowledging that there were many aspects he would have handled differently.
Watt, who co-founded BrewDog in Aberdeenshire in 2007, transitioned from the role of chief executive to that of “captain and co-founder” in 2024. He expressed deep sadness for the dedicated team members who lost their jobs and the equity punks who did not see the desired return on their investments.
Reflecting on BrewDog’s journey, Watt mentioned the highs, lows, successes, failures, and the steep learning curve he faced as a young entrepreneur. He admitted to making mistakes and not always responding authentically to the challenges the company encountered.
Despite regrets about not being able to save jobs and investments, Watt expressed gratitude to the departing team members and equity punks for their contributions and belief in the company during its early stages.
Under the new ownership, Tilray will oversee BrewDog’s facilities, including its brewery in Ellon, Aberdeenshire, and The Hop Hub distribution center in Motherwell, Lanarkshire. Only 18 franchise BrewDog bars across the UK and internationally will remain in operation.