BrewDog’s founder, James Watt, expressed deep sadness as the company was acquired by a US corporation, leading to the closure of several bars and the loss of numerous jobs. Tilray Brands purchased BrewDog for £33 million, resulting in the shutdown of 38 bars and the termination of 484 jobs that were not part of the acquisition deal.
Investors who participated in BrewDog’s crowdfunding initiatives known as “equity for punks” also faced disappointment as they did not receive any returns on their investments. In a social media post following the acquisition announcement, Watt admitted to the challenges faced during the week and acknowledged that there were aspects he would have handled differently.
Watt, who co-founded BrewDog in Aberdeenshire in 2007, stepped down as CEO in 2024 and assumed 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 company’s journey, Watt highlighted the highs, lows, successes, failures, and the steep learning curve he navigated as a novice business owner.
Despite the regret of not being able to save every job and investment, Watt thanked the departing team members for their contributions and the equity punks for their belief in BrewDog’s vision from its humble beginnings. Tilray will now oversee BrewDog’s operations, including its brewery in Aberdeenshire and The Hop Hub in Lanarkshire, while only 18 franchise BrewDog bars will remain operational in the UK and internationally.