Brewdog

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 million
• Sector: Consumer Goods
• Investor/Acquirer: Tilray Brands
• Advisor: AlixPartners
• Notable 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.