BrewDog’s founder, James Watt, expressed his deep sadness following the recent acquisition of the company by a US firm, 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 the dismissal of 484 employees who were not included in the deal. Investors who supported BrewDog through crowdfunding initiatives also faced losses.
In a social media post after the acquisition, Watt admitted that the week had been extremely challenging, reflecting on the decisions he would have made differently throughout the company’s journey.
Watt, who co-founded BrewDog in 2007 and stepped down as CEO in 2024, expressed sorrow for the dedicated team members who lost their jobs and the equity investors who did not see the desired returns.
He reminisced about the humble beginnings of BrewDog and acknowledged the mistakes made along the way, mentioning the rapid expansion and failure to address crises authentically.
Despite regrets about not being able to save jobs and investments, Watt thanked departing team members for their contributions and equity investors for believing in the business from its early stages.
Tilray will now oversee BrewDog’s facilities, including its brewery in Ellon and The Hop Hub in Motherwell, while only 18 franchise BrewDog bars will continue operations.
As part of the deal, BrewDog’s founder expressed gratitude to all those involved in the company’s journey and expressed remorse for the losses faced by employees and investors.