James Watt Offers to Buy Brewdog from Current Owner Tilray

James Watt has made an official offer to buy back Brewdog months after the craft beer company was sold to Tilray, The Bbc reported. Brewdog collapsed earlier in 2026 with debts of more than £500 million before Tilray completed the purchase. The collapse resulted in hundreds of job losses.

At its peak the company operated four breweries and about 100 pubs worldwide and was valued at more than $1 billion. Watt co-founded Brewdog with Martin Dickie in Aberdeenshire nearly 20 years ago. He stepped down as chief executive in 2024 and took the title of captain and co-founder.

Dickie left the company in 2025 for personal reasons. Both men sold shares to U.S. private equity firm TSG in 2017 and each received £50 million. About 20,000 investors participated in Brewdog's Equity for Punks scheme, typically buying shares priced at £20 to £30 for around £500 each.

Those shares became worthless after the collapse. After leaving Brewdog, Watt started a new beer brand called Second Best and offered nearly 20 percent of its shares to people who lost money in Equity for Punks. In an email to Second Best investors seen by BBC Scotland News, Watt wrote that if his bid succeeds, "everyone who has signed up to Second Best will own the same stake in Brewdog they once held.

Watt had previously attempted to repurchase Brewdog after its collapse but was outbid by Tilray. Watt recently apologized to staff and investors for management mistakes, including rapid diversification efforts.