BrewDog founder faces data watchdog probe over shareholder outreach
Complaints have been lodged with the UK Information Commissioner's Office (ICO) after BrewDog co-founder James Watt reportedly contacted former shareholders as part of efforts to regain control of the craft brewer. The ICO confirmed it is “assessing” information related to the complaints.
Background of the BrewDog takeover
Earlier this year, US drinks firm Tilray acquired BrewDog's brand, intellectual property, UK breweries, and 11 bars in a rescue deal worth about £33 million. The administration process led to the closure of 36 bars, affecting nearly 500 workers. The deal rendered shares of approximately 200,000 crowdfunding investors worthless.
James Watt's bid to buy back BrewDog
On Wednesday, Mr Watt made a fresh bid to repurchase the Scottish craft beer firm through his new beer company, Second Best, claiming that 43,000 so-called equity punk investors have united for the bid. However, The Guardian reported on Friday that several shareholders contacted by Mr Watt expressed confusion over how he obtained their contact details, raising concerns about a potential breach of the General Data Protection Regulation (GDPR).
ICO response and Tilray's stance
An ICO spokeswoman said: “We are aware of an incident involving BrewDog and we are assessing the information provided.” Mr Watt has been contacted for comment. Meanwhile, Tilray has stressed that the brand is not for sale and plans to reject Mr Watt's takeover efforts. A spokesman for Tilray clarified: “Tilray Brands did not acquire Equity for Punk shareholder data as part of its acquisition of the BrewDog brand and assets; that records system remains under the control of BrewDog plc (in administration). Tilray acquired only a customer CRM database comprising individuals who explicitly opted in to BrewDog communications. For the avoidance of doubt, Tilray Brands (trading as BrewDog) and its current management team have no involvement in, affiliation with, or responsibility for James Watt's business activities, including Second Best. Tilray Brands did not authorise, facilitate, or participate in the communications reportedly sent to former Equity for Punks investors and did not authorise the use of any acquired data for such purposes. We take data privacy with the utmost seriousness and can categorically confirm that no data held by Tilray Brands has been shared with external entities or former directors.”
History of BrewDog and Watt's role
Mr Watt co-founded BrewDog in Aberdeenshire in 2007, and the brand grew rapidly. He stepped down as chief executive in 2024 to become its “captain and co-founder.” The current situation marks a significant turn in the company's trajectory.
