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 484 job redundancies excluded from the deal.
Investors who participated in BrewDog’s “equity for punks” crowdfunding rounds were left with no returns. Watt shared his emotional turmoil on social media, acknowledging the challenges and mistakes faced during the company’s journey.
Having co-founded BrewDog in 2007, Watt transitioned from CEO to “captain and co-founder” in 2024. He expressed sorrow for the dedicated team members who lost their jobs and the equity punks who didn’t see the desired returns.
Reflecting on BrewDog’s evolution, Watt admitted to the highs, lows, successes, failures, and missed opportunities along the way. He regretted the rapid expansion, broad diversification, and inadequate crisis management that deviated from the company’s core values.
Despite his desire to save every job and investment, Watt recognized the limitations faced. Tilray will now oversee BrewDog’s operations, including its brewery in Aberdeenshire and distribution center in Lanarkshire, with only 18 franchise bars continuing operations.
In a tribute to departing team members and loyal equity punks, Watt expressed gratitude for their contributions and belief in BrewDog’s vision from its humble beginnings.