Give BrewDog second chance, says new owner as it invests £50m
Summary
The US company Tilray bought the UK craft beer brand BrewDog for £33 million after the company went into financial trouble. Tilray is investing more than £50 million to improve BrewDog’s beers, pubs, and working conditions, while aiming to restore the company’s reputation and grow its business.Key Facts
- BrewDog entered administration after five years of losses and staff complaints about work conditions.
- Tilray purchased BrewDog in March 2024 for £33 million, including the brand, UK breweries, and 11 bars.
- The investment includes improving beer quality, launching new beers, and enhancing working conditions.
- Over £1 million worth of beer that failed quality checks was discarded by Tilray.
- About 38 bars closed with 440 staff losing jobs; Tilray has reopened 5 bars and plans to open more in prime locations.
- BrewDog’s previous owner, founder James Watt, stepped down in 2024 amid workplace culture controversies.
- Crowdfunding investors lost their shares but still receive some benefits like discounted beer.
- Tilray aims to increase BrewDog’s annual sales from £225 million towards £350 million and improve profitability.
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