Brewdog founder James Watt has submitted a formal offer to buy back the craft beer company from its current owner, Tilray Brands. Watt aims to return the company to its original investors and employees.
This development signifies a potential return of a prominent craft beer brand to its founder, aiming to rectify past investor outcomes and improve employee conditions.
Brewdog founder James Watt has launched a bid to regain control of the craft beer firm he co-founded. Watt submitted a formal offer to Tilray Brands, the US cannabis and craft beer company that currently owns Brewdog, to repurchase the business. This move follows Brewdog's sale for £33 million, a significant drop from its peak valuation of £2 billion. Watt is making the bid through his entity, Second Best, which was established to represent thousands of 'equity punks' who invested in Brewdog but did not benefit from its sale. Watt stated his intention to return each of these investors' stakes in Brewdog. He also committed to restoring the Real Living Wage for the company's workers and offering them equity in the business.