Big news from across the pond
It’s been quite an adventure for the UK-based global brewery brand known as BrewDog. The brewery, now nearly 20 years old, has always lived life on the edge, like a fire-juggling high-wire artist in a penguin costume. A few weeks ago, the world learned that BrewDog was shopping itself around. Today, we learned that Tilray Brands has acquired BrewDog’s global brand and intellectual property.
The king of beer acquisitions
Craft beer fans might recognize Tilray Brands as the global cannabis company making significant forays into the beer industry by acquiring once-craft brands from the likes of Anheuser-Busch and Molson Coors. (Read our stories about Tilray’s maneuvering here.)
Today’s report on Brewbound points out that Tilray’s acquisition of a “distressed” beer brand should come as no surprise. Most notably, in 2023, Tilray acquired eight once-craft beer brands from Anheuser-Busch for $83 million, which was dimes on the dollar compared to what A-B paid for the collection of brands that included 10 Barrel Brewing, Redhook Brewery, Widmer Brothers, Shock Top, and others.
One brewery, 11 pubs, $44 million
This deal sees Tilray acquire BrewDog’s brewing operation in Scotland as well as 11 pubs across the U.K. and Ireland. BrewDog also has locations in Australia and the USA. Tilray intends to acquire those assets as well, with negotiations already underway and a separate deal expected to close in about 30 days. The company reports that it operates 90 pubs globally. All of the UK pubs were closed on Monday, reports say.
“BrewDog is one of the most iconic, mission-driven craft beer brands in the U.K.,” Tilray CEO and chairman Irwin Simon said in a release announcing the deal. “It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer. What makes BrewDog truly special has always been its brewers, its brewpubs and its passionate community of beer fans.”
Iconic, yes, but BrewDog certainly comes with a reputation. The company has a colorful and somewhat dodgy past. It is fair to say that BrewDog’s reputation as an employer is dubious. Among other incidents, that reputation includes allegations of inappropriate conduct that led to the resignation of the company’s CEO, Martin Dickie, in 2024.
“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,” Simon said in the press release. “BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”
The deal with Tilray is reportedly worth £33 million (approx. $44.2 million). In 2017, BrewDogs sold a 22% stake in the company to a private equity firm. That deal earned the company’s two founders, James Watt and Martin Dickie, a $100 million payday. Brewbound is covering this developing story here (paywalled).
