Brewdog co-founder James Watt bids to buy back UK and Australian operations

Published Jul 17, 10:41 AM UTC

James Watt, co-founder of Brewdog, has made a surprise bid to buy back the craft beer company's entire UK and Australian operations from current owner Tilray Brands. The bid, launched through his vehicle Second Best, excludes Brewdog's US arm. Watt aims to return ownership to the 43,000 retail investors ("equity punks") and employees who held shares before the company was sold to Tilray in March for £33 million, a steep drop from its former £2 billion valuation. The bid follows Brewdog's sale and the collapse of many UK bars into administration. However, Tilray has stated that Brewdog is "not for sale." Additionally, Watt faces potential investigation by the UK's Information Commissioner's Office after former investors complained about how he obtained their contact details for the offer.