James Watt bids to buy back BrewDog

James Watt, the laminitis of BrewDog, has tabled a bid to bargain backmost the UK concern helium founded astir 20 years ago.

Watt posted quality of his connection for BrewDog, present owned by US-listed Tilray Brands, connected LinkedIn.

"We person formally submitted our connection to bargain BrewDog," Watt wrote. "The connection was made by Second Best and sent to Tilray Brands."

Watt announced plans to found a caller venture, dubbed Second Best, successful May.

Three months earlier, drinks and cannabis supplier Tilray struck a bid of deals to bargain BrewDog assets successful the UK, Ireland, the US and Australia.

Just Drinks has approached Tilray for comment.

Watt, who has said helium tried to bargain BrewDog earlier its merchantability to Tilray, received disapproval successful the aftermath of the US group's acquisition of the brewer and barroom operator's assets.

Under his leadership, BrewDog's Equity for Punks crowdfunding strategy raised wealth for the business, with the past fundraising circular taking spot successful 2021.

However, according to reports, the alleged equity punk investors received nary instrumentality aft Tilray stepped successful to bargain the loss-making BrewDog.

When Watt announced helium was mounting up Second Best, helium said helium was readying to allocate up to 19.3% of the caller concern to the erstwhile BrewDog punk investors for free.

In today's LinkedIn post, Watt said "43,000 equity punks person already joined the bid".

He added: "If we succeed, each registered punk gets their BrewDog equity backmost for free. We'd besides reconstruct the Real Living Wage, bring backmost the team's equity and enactment the assemblage backmost astatine the bosom of the business.

"The punks and the unit built this institution and BrewDog deserves to beryllium to them erstwhile more."

Watt stepped down arsenic BrewDog CEO 2 years ago. Fellow co-founder Martin Dickie near the concern past year. They were some shareholders astatine the clip of the transactions with Tilray.

US private-equity steadfast TSG Consumer Partners owned 21% of BrewDog aft investing the brewer successful 2017.

"James Watt bids to bargain backmost BrewDog" was primitively created and published by Just Drinks, a GlobalData owned brand.