BrewDog’s founder, James Watt, expressed deep sadness following the sale of the company to a U.S. firm this week. The acquisition by Tilray Brands for £33 million led to the closure of 38 BrewDog bars and the loss of 484 jobs that were not part of the deal. Investors who participated in BrewDog’s crowdfunding rounds, known as “equity for punks,” also faced disappointment.
In a social media post after the sale, Watt admitted to the challenges of the week and acknowledged the mistakes made along the way. Watt, who co-founded BrewDog in Aberdeenshire in 2007, transitioned from CEO to “captain and co-founder” in 2024.
Expressing his sorrow for the affected team members and investors, Watt reflected on the company’s journey, citing both successes and failures. He recognized the rapid expansion and diversification missteps that led to certain crises not being addressed authentically.
Watt regretted his inability to save jobs and investments, expressing gratitude to departing team members and equity punks for their contributions. Tilray will now oversee BrewDog’s brewery in Ellon and The Hop Hub in Motherwell, while only 18 franchise BrewDog bars will remain operational.
Watt concluded with a heartfelt message, appreciating the dedication of the team and investors during BrewDog’s evolution from a small startup to a well-known brand.