Brewdog bought by American cannabis and beer business for £33m

BrewDog is to shut 38 bars with the loss of 484 jobs after they were not included in a £33m rescue deal by US firm Tilray, administrators for the Scottish brewer have said.

Tilray, which owns a raft of craft breweries in the US, said it has bought a number of BrewDog assets including the global brand and related intellectual property, UK brewing operation and 11 of its pub venues across the UK and Ireland.

It is separately negotiating deals to buy certain BrewDog assets in the US and Australia.

The Scotland-based brewer, which makes craft beer such as Punk IPA and Elvis Juice, closed its pubs on Monday as it sought to confirm a takeover.

Irwin D Simon, chairman and chief executive of Tilray Brands, said: “BrewDog is one of the most iconic, mission-driven craft beer brands in the UK.

“It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.

“As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth.

“BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”

The craft beer giant appointed New York-based restructuring specialists AlixPartners to oversee the sale process two weeks ago.

The news came after the Aberdeenshire-based company abandoned its state-of-the-art distillery last month, which opened in 2016, and axed its spirit brands.

In 2024, BrewDog posted losses of £37m in 2024 and announced job cuts across the business, including at its head office and brewery in Ellon.

The self-styled “punk” beer brand was founded by James Watt and Martin Dickie in 2007.

In an internal email, the company’s chief executive James Taylor confirmed there would be a series of meetings on Monday and Brewdog bars would be closed to comply with licensing issues.

Food and beer deliveries, as well as customer bookings have also been cancelled.

A spokesperson for Unite the union said Brewdog’s conduct was “a national shame”.

“Workers who are facing the possible collapse of their employer and the loss of their livelihoods have been told they will receive just 30 minutes’ notice for a consultation meeting — and management cannot even confirm the exact time it will take place,” the union’s Brewdog area manager said.

Brewdog co-founder James Watt stepped down as chief executive in 2024 after a series of controversies, including allegations of inappropriate behaviour and abuse of power by former employees.

Dickie announced his departure from the company and the alcohol industry for “personal reasons” in April last year.

Months later, the company said it would be closing ten of its bars, including its flagship bar on Aberdeen’s Gallowgate, the first bar opened by the company in 2010, and one in Dundee.