Key facts
- BrewDog's new owner, Tilray, is investing over £50 million in the company.
- Tilray bought BrewDog for £33m in March.
- BrewDog collapsed into administration with creditors owed about £190m.
- Founder James Watt left the company in 2024.
- Tilray's CEO Irwin Simon stated that pay for BrewDog staff has been increased.
- Tilray has reopened five of the 38 bars that closed.
BrewDog's new owner, US company Tilray, is injecting over £50 million into the struggling craft beer business, aiming to improve its products, pubs, and employee conditions. Tilray acquired BrewDog for £33 million in March after the company entered administration due to years of losses and controversies surrounding its founder, James Watt.
Tilray's chief executive, Irwin Simon, stated that the company is addressing customer and staff feedback, including increasing pay. Investments are being made in the Aberdeenshire brewery to enhance the quality of existing beers, with over £1 million worth of substandard beer having been discarded. Simon indicated that Tilray is a long-term investor focused on growth and is considering expanding its portfolio with other British craft beers, potentially reviving BrewDog's closed distillery.
Administrators recently confirmed that creditors, owed approximately £190 million, will not be fully repaid. However, Tilray has reportedly covered costs for some key suppliers to ensure operational continuity. The March deal, which included BrewDog's brand, intellectual property, UK breweries, and 11 bars, rendered the shares of over 200,000 crowdfunding investors worthless, though they retain benefits like discounted beer.
During a brand relaunch event, Simon acknowledged that BrewDog's craft beers would not match the low prices of budget options like Bud Light, emphasizing the company's entrepreneurial and nimble approach compared to larger corporations. Of the 38 bars that closed, Tilray has reopened five and plans to open more in prime locations. Simon expressed confidence that BrewDog can overcome past negative publicity and return to its previous annual sales of £350 million, from its current £225 million, and achieve profitability.