Key facts
- BrewDog co-founder James Watt has made a bid to buy back the craft beer firm.
- Watt's offer is being made through his new beer firm, Second Best.
- The bid follows Tilray's acquisition of BrewDog in March.
- Watt claims 43,000 'equity punk' investors have joined forces for the bid.
- If successful, Watt promises to return BrewDog equity to investors for free.
- The bid also aims to restore the real living wage and bring back team equity.
BrewDog co-founder James Watt has made a bid to buy back the craft beer firm he helped establish, just months after it was acquired by US company Tilray Brands. Watt revealed on LinkedIn that his new beer firm, Second Best, has tabled an offer, claiming that 43,000 'equity punk' investors have united to support the bid.
The move comes after Tilray's acquisition of BrewDog in March, which rescued the company from administration. That deal led to the closure of 36 bars in the UK and resulted in nearly 500 workers losing their jobs. Watt stated that if his bid is successful, every registered 'punk' investor will receive their BrewDog equity back for free. He also pledged to restore the real living wage, reinstate the team's equity, and re-center the business around its community.
Approximately 20,000 individuals invested in BrewDog's 'Equity For Punks' scheme, typically spending around £500 each for shares that became worthless when the company entered administration. Watt co-founded BrewDog in Aberdeenshire in 2007, and the brand experienced rapid growth. He stepped down as chief executive in 2024, taking on the role of 'captain and co-founder'. Watt has previously apologized for "mistakes" made during his tenure and expressed heartbreak over job losses and lost investments following the Tilray takeover.