James Watt launches hangover drink - and the first 20,000 customers can own a stake in it
The first 20,000 Fool's Fix customers will have the opportunity to claim 100 shares in Fool's Fix for free, so that 10% of the business will be owned by its first 20,000 customers.
Brewdog co-founder James Watt expressed frustration over the lack of press coverage regarding his new venture, a drink aimed at preventing hangovers. In a LinkedIn post, Watt lamented, "Normally, if I cough loudly, three journalists file copy about it. Yesterday we did a world first and the press said nothing. 'Not a peep. Total silence.'"
The craft beer entrepreneur has launched several new projects since Brewdog's sale to US cannabis company Tilray in March for £33 million, a fraction of its £2 billion valuation in 2020. Watt had attempted to prevent the acquisition with his own bid, which aimed to save jobs and reinstated the Real Living Wage. In July, he offered to buy Brewdog back from Tilray, but the offer was rejected.
Since the sale, Watt has been working to regain the trust of the "equity punks" who invested in Brewdog and missed out on returns from the Tilray deal. He has offered free shares in his new company, Second Best, to these investors and is also providing a 10% stake in the new soft drink, Fool's Fix, to its first 20,000 customers.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
