Brewdog co-founder James Watt launches bid to buy back beer firm

Brewdog co-founder James Watt launches bid to buy back beer firmImage source, Getty ImagesImage caption, James Watt stood down as Brewdog chief executive in 2024 Published30 minutes agoBrewdog 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. I invested £12,000 in Brewdog - I think I've lost it allPublished18 FebruaryInvestors doubt Brewdog founder's shares pledge for new beer brandPublished23 MayAbout 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.Former investors told the BBC that they were sceptical about those plans. Watt's email to investorsIn an email to those who signed up to the Second Best offer, seen by BBC Scotland News, Watt said he had made an official offer to buy back Brewdog.He wrote: "If successful, everyone who has signed up to Second Best will own the same stake in Brewdog they once held. For free."Watt added that the fi...