Give BrewDog second chance, says new owner as it invests £50m

US cannabis and drinks firm Tilray, which acquired BrewDog in March, is urging consumers to give the struggling brand "another chance" as it commits over £50m to improve the company's beers, pubs, and working conditions. Tilray, led by CEO Irwin Simon, purchased BrewDog for £33m in March after the company had fallen into administration due to five years of losses and controversies surrounding founder James Watt's management style.

Some workers accused Watt of creating a "toxic work culture" in 2021, after which he resigned in 2024. Simon stated that Tilray is attentive to the concerns of BrewDog's customers and staff, having raised salaries this year. The company is also working on launching new beers and investing in its brewery in Aberdeenshire to enhance the quality and dependability of existing lines.

Over £1m worth of beer that failed to meet quality standards has been discarded, according to Simon. Tilray, a long-term investor aiming to expand the company, is considering buying more British craft beers and possibly reviving BrewDog's shuttered distillery business if there is sufficient market demand in the UK. Despite earlier reports that BrewDog creditors would not receive full repayment of the £190m they are owed, Tilray has covered expenses related to key suppliers to maintain continuity with items like ingredients.

The deal, in which Tilray acquired BrewDog's brand, intellectual property, UK breweries, and 11 bars, rendered the shares of over 200,000 crowdfunding investors worthless. However, these "equity punks" continue to receive perks such as discounted beer, and some were invited to ask questions at BrewDog's relaunch. Simon emphasized that while BrewDog beers won't be priced as low as £2 Bud Light from Wetherspoons, the company's craft beers deserve a second chance.

The American CEO highlighted the company's unique entrepreneurial and nimble nature, contrasting it with larger corporations like Anheuser-Busch. Simultaneously, Tilray is planning an advertising campaign around the slogan "choose craft" and has launched a new ad campaign criticizing Watt, featuring phrases like "No More Cunning Stunts.

Just Great Beer" and "A Little Less Allegation" alongside its Punk IPA and Elvis Juice. Tilray also published a statement outlining its dedication to BrewDog's future, promising sensible working practices, community initiatives, and a people-first approach.