Tilray CEO Rejects James Watt's Bid for BrewDog

BrewDog co-founder James Watt submitted a formal offer to buy back the craft beer company from Tilray Brands through his new venture, Second Best. Watt is personally funding the bid alongside an unnamed partner, claiming support from 43,000 registered equity punk investors. He pledged that if the acquisition succeeds, these investors would receive their equity back for free, the company would restore the real living wage, and an employee equity program would be reinstated.

Tilray Brands CEO Irwin Simon rejected the offer, stating that BrewDog is not for sale and remains an integral part of the organization's operations. Simon described the initial acquisition of BrewDog as one of the most exciting of his career and indicated that Tilray remains focused on reaching a valuation of over £1 billion.

Tilray Brands acquired BrewDog's global intellectual property, UK brewing operations, and select bars for £33 million in March 2026 after the firm entered administration. This process followed a significant financial decline for BrewDog, which saw its valuation drop from a peak of £2 billion and resulted in the closure of 36 UK bars and approximately 500 job losses.