Brewdog

Acquirer: Tilray Brands

American cannabis and craft beer company Tilray Brands has acquired UK craft brewer BrewDog out of administration for £30m.Summary of transaction details:Value: £30mSector: Consumer GoodsAdvisor: AlixPartnersKey Entities: BrewDog, Tilray Brands, HSBCLocation: United KingdomNote: The transaction involved Tilray Brands acquiring a number of BrewDog's brewing facilities and bar operations following the Scottish brewer's entry into administration under AlixPartners, resolving portions of secured creditor debt held by HSBC.

Acquirer: James Watt (via Second Best)

Brewdog founder James Watt has submitted a formal offer through his vehicle Second Best to acquire the craft beer company from Tilray Brands, potentially returning ownership to its original shareholders and workforce.Summary of transaction details:Value: Not disclosedSector: Consumer GoodsAdvisor: Not disclosedKey Entities: Brewdog (Target), James Watt / Second Best (Acquirer), Tilray Brands (Seller)Location: United KingdomNote: The proposed buyback follows Tilray's earlier acquisition of Brewdog at a significantly reduced valuation, with Watt seeking to restore brand equity and employee ownership after a period of controversy and decline.

Acquirer: Tilray Brands

US cannabis and drinks company Tilray Brands has acquired craft beer pioneer BrewDog for £33 million following the company's administration and subsequent collapse, securing its global brand, intellectual property, UK brewing operations, and 11 select UK pubs.Transaction details:Value: £33 millionSector: Consumer GoodsInvestor/Acquirer: Tilray BrandsAdvisor: AlixPartnersNotable context: The insolvency process and administration resulted in the closure of 38 bars, the loss of 484 jobs, and left unsecured creditors—including major entities like Lord’s Cricket Club, West Ham United, Meta, and Microsoft—with significant shortfalls totalling £190m to £208m, while equity punk crowdfund investors received no returns.Strategic rationale: The acquisition provides a strategic asset acquisition for Tilray Brands to expand its global beverage portfolio by integrating established craft beer brands such as Punk IPA and Elvis Juice. Under new leadership, Tilray has deployed a multi-million pound marketing campaign and invested nearly £50m to restructure operations, distance the brand from past cultural controversies under co-founders James Watt and Martin Dickie, and re-energize the business with a people-first approach and sustainable practices.