BrewDog Co-Founder James Watt Considers Buyback as Firm Goes on Sale
James Watt, the co-founder of BrewDog and once dubbed the 'worst boss in the world', is reportedly considering a bid to buy back the craft beer company after it was put up for sale. Watt, who stepped down as CEO in 2024 but remains the largest shareholder, is understood to be canvassing support from financial backers to launch a potential offer.
Financial Struggles and Restructuring Efforts
The Scottish brewer, known for popular beers like Elvis Juice and Punk IPA, has appointed restructuring experts AlixPartners to seek potential investors. This move comes as BrewDog faces significant financial challenges, having posted pre-tax losses for five consecutive years, with cumulative losses reaching £148 million. The company's valuation is now thought to be far lower than its once-mooted £2 billion price tag, according to insider reports.
In response to declining popularity, BrewDog closed ten bars across the UK in July, including its first pub in Gallowgate, Aberdeen, near its Ellon headquarters. Last month, the company also announced the closure of its distilling brands, raising concerns about job losses at its facility in Ellon, Aberdeenshire.
Watt's Controversial Leadership and Possible Return
Watt's potential return to the helm would mark a significant shift, coming two years after he resigned as CEO following a 17-year tenure marred by controversies. He founded BrewDog in 2007 with friend Martin Dickie from a garage, but his leadership has been criticized for fostering a 'culture of fear' and 'toxic attitudes' towards junior employees, as alleged by former workers in 2021.
In 2022, Watt faced accusations of inappropriate behaviour and abuse of power from former BrewDog USA employees, who claimed his actions made them feel 'uncomfortable' and 'powerless'. Although lawyers for Watt denied these claims, a complaint to Ofcom over a BBC documentary exposing the allegations was dismissed in February 2024.
Despite the controversies, Watt has highlighted positive aspects of his leadership, such as gifting 20% of his shares to the team, providing £250,000 gifts to employees and their families, and rejecting a salary during the pandemic. He has also been described as the 'Darth Vader of CEOs' for his aggressive management style.
Personal Life and Public Image
Watt, married to Made In Chelsea star Georgia Toffolo since last year, has a personal fortune estimated at £425 million with his wife, according to an August 2025 report. His lavish lifestyle was highlighted in December 2024 when he led a stag party in Aberdeenshire that racked up a £159,000 bill at a whisky bar, though it is unclear who paid.
BrewDog's rise to fame was fueled by publicity stunts orchestrated by Watt, including driving a tank through the City of London and projecting his naked image onto the Houses of Parliament. However, the company's recent struggles have overshadowed these antics.
Current Operations and Future Prospects
Currently, BrewDog operates 72 bars worldwide and four breweries. A spokesperson for the company stated that the appointment of AlixPartners is part of a 'structured and competitive process' to evaluate investment options, emphasizing BrewDog's status as a 'global pioneer in craft beer' with a 'highly engaged global community'. They added that no final decisions have been made and operations continue as normal.
In 2024, BrewDog sparked further controversy by announcing it would no longer hire new workers on the real living wage, instead paying below the legal minimum wage. As Watt explores a buyback, the future of the brand remains uncertain amid ongoing financial and reputational challenges.
