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Brewdog co-founder James Watt makes offer to buy back the brand
Watt says investors in Brewdog’s “Equity for Punks” scheme would receive shares “for free” if his takeover bid succeeds, after Tilray acquired the company earlier this year.
BBC Business reports that Brewdog co-founder James Watt has made an offer to buy back the craft beer business months after it was sold to US company Tilray earlier this year.
The outlet says Brewdog had previously peaked with four breweries and around 100 pubs worldwide, and was later bought by Tilray after collapsing under debts of more than £500m, a process that led to hundreds of job losses.
Watt said investors in Brewdog’s “Equity for Punks” scheme, which attracted about 20,000 people who typically spent around £500 for shares priced at £20 to £30 each, would receive shares for free if his bid is successful.
BBC Business also notes that Watt stood down as chief executive in 2024, and that he previously launched a new beer brand called Second Best offering nearly 20% of shares to people who lost money in the scheme.