Brewdog founder James Watt bids to reclaim company from US owner Tilray Brands

City AM Published Jul 15, 2026 Reviewed Jul 17, 2026 ✓ Reviewed by citations.press editors

Brewdog was sold to Tilray Brands for £33 million despite once having a £2 billion valuation.

33000000 GBP · Brewdog sale price2000000000 GBP · Brewdog former peak valuation

Tilray Brands, a Nasdaq-listed firm, bought Brewdog in March and announced plans to expand the brand across the UK, the US and Australia and return it to a $1 billion valuation.

1000000000 USD · target valuation for Brewdog post-acquisition

43,000 investors in Brewdog signed up to shares in Second Best, the vehicle James Watt set up to offer them stakes in a new company.

43000 · investors who signed up to Second Best shares

The sale of Brewdog to Tilray Brands caused the closure of 38 UK locations and nearly 484 staff.

38 · UK locations closed following Brewdog saleabout 484 · staff affected by Brewdog sale closures

The Scottish entrepreneur is trying to reclaim the craft beer brand he founded from the US cannabis and beer giant that bought it for a fraction of its former valuation.

Brewdog founder James Watt has launched a bid to regain control of the craft beer firm he founded, just months after it was bought by US cannabis and beer company Tilray Brands.

The Scottish entrepreneur said on Wednesday that he has submitted a formal offer to buy Brewdog from Tilray Brands, the US cannabis and craft beer firm which now owns the pale ale maker.

This bid marks the latest twist in the dramatic Brewdog saga, which saw the craft beer firm sold for only £33m despite once fetching a £2bn valuation.

James Watt has launched the bid through Second Best, a vehicle he set up to offer shares to thousands of "equity punks" who had bought shares in Brewdog but gained nothing from its eventual sale.

The craft beer founder claimed that he would give each of these investors back their stake in Brewdog. He also pledged to restore the Real Living Wage to the company's workers and offer them shares in the business.

He said 43,000 of these investors have signed up to shares in the new company, which James Watt had said would create its own beer brands before announcing its surprise play for Brewdog.

"If our bid is unsuccessful, [our] full focus is on Second Best. If we succeed, Second Best will exist as part of Brewdog," he said.

James Watt is self-funding the takeover bid alongside a "partner" who he declined to name.

He founded the business in 2007 alongside school friend Martin Dickie. The company's rapid rise kickstarted the craft beer boom and was fueled by the investment of thousands of its customers.

James Watt and Martin Dickie both stepped away from the company in recent years after allegations, fiercely denied by the founders, of a toxic workplace and a "cult of personality" around James Watt.

Following the sale of Brewdog, James Watt had written of his "heartbreak" at the brand's downfall, claiming that he had narrowly missed out on a comeback bid for the company.

Tilray Brands, the Nasdaq-listed firm which bought Brewdog in March, had announced plans to expand the brand across the UK, the US and Australia and return it to a $1bn valuation.

Tilray, which is listed on the Nasdaq, has significant operations in Canada's cannabis market.

The sale caused the closure of 38 UK locations and nearly 484 staff.

Brewdog's chief executive, James Taylor, quit the business last week after little more than a year in the role.

It is understood that James Taylor will not be replaced with a new chief executive, with Tilray Brands execs poised to run the business as part of the firm's international operations.

This article was originally published by City AM ↗. citations.press indexes the source-backed facts above and links to the original. Something wrong? Corrections policy · Report an error