BrewDog co-founder James Watt has submitted a bid to buy back the craft beer company, just months after it was acquired out of administration by US-based Tilray. Watt announced the offer on LinkedIn, stating that his new beer firm, Second Best, has partnered with 43,000 so-called equity punk investors to pursue the acquisition.
Background of the Bid
The move comes after Tilray, a New York-based company, purchased BrewDog in March 2025, rescuing it from administration. The deal led to the closure of 36 bars in the UK and the loss of nearly 500 jobs. Watt's bid aims to reverse these outcomes and restore the company's original ethos.
In his LinkedIn post, Watt detailed the proposal: "If we succeed, every registered punk gets their BrewDog equity back, for free. We'd also restore the real living wage, bring back the team's equity, and put the community back at the heart of the business."
Equity Punks and Financial Impact
Approximately 20,000 individuals invested in BrewDog's Equity for Punks scheme, typically spending around £500 each on shares. These shares became worthless when BrewDog entered administration. Watt's bid would restore value to these investors, effectively giving them their equity back at no cost.
Watt emphasized the role of the community: "The punks and the crew built this company and BrewDog deserves to belong to them once more. Equity Punks, you backed me once. This time, I'm backing you."
Future Prospects
The success of the bid depends on Tilray's willingness to sell and regulatory approvals. If completed, the buyback would mark a significant reversal for the brand, potentially reinstating its independent status and community-focused approach.
