Brewdog Co-Founder Plans New Beer Brand With Shares for Prior Investors

James Watt, who co-founded Brewdog with Martin Dickie in 2007, said he will give nearly 20 percent of shares in a new company to investors who received no return after the original firm entered administration. The Equity for Punks scheme raised £75 million and offered participants discounts, free birthday beer, and invitations to an annual event.

U.S. equity firm TSG Consumer Partners later acquired a 22 percent stake, it received preference shares that placed it ahead of earlier investors in any sale. Administrators reported that the subsequent sale preserved 733 jobs but resulted in 484 job losses and the closure of 38 bars.

Equity for Punks participants received no payout from that transaction.

3 percent of Second Best to former investors at no cost. He said their equity in the new company will rank equally with his own. "No catches, no cash required, and your equity in Second Best will always rank alongside my own," Watt said. He added that participants "will own it" while he funds and builds the business.

The company is still seeking required licenses and consents, and Watt said a launch date has not been set. He indicated the firm may begin with an alcohol-adjacent product before expanding into beer.