Watt says he has made an offer to buy back the craft beer business months after it was sold to a US company.

Brewdog co-founder James Watt says he has made an offer to buy back the craft beer business months after it was sold to a US company. At its peak, Brewdog had four breweries, about 100 pubs worldwide and was said to be worth more than $1bn. However, it was bought over by beverage and medical cannabis company Tilray earlier this year after collapsing with debts of more than £500m, leading to hundreds of job losses. Watt - who co‑founded the firm with Martin Dickie in Aberdeenshire almost 20 years ago - said investors in Brewdog's "Equity for Punks" scheme would receive shares "for free" if his takeover bid was successful. About 20,000 people invested in the scheme, typically spending about £500 on shares costing £20-30 each. They were left worthless as the firm collapsed. Watt stood down as chief executive in 2024 and moved to a newly created position of "captain and co-founder". Dickie left the company last year, citing personal reasons. Both had sold shares in the firm to a US private equity fund TSG in 2017, making £50m each. After leaving Brewdog, Watt launched a new beer brand, Second Best, offering nearly 20% of shares to people who lost money after investing in Equity for Punks.