Tilray Brands has completed its purchase of Scottish craft brewer BrewDog's UK brewing operations, global brand, intellectual property, and 11 brewpubs for £33 million (~$44 million) following the company's administration. The deal preserves 733 jobs but results in 484 redundancies and the closure of 38 UK bars, with separate talks ongoing for US and Australian assets.
On March 2, 2026, administrators AlixPartners oversaw the sale of key BrewDog assets to Canada-headquartered Tilray Brands after the company entered administration amid years of financial struggles, including a £37 million deficit in 2025. Founded in 2007 by James Watt and Martin Dickie in Aberdeenshire, Scotland, BrewDog grew into a global brand known for beers like Punk IPA, Hazy Jane, and Lost Lager, with four breweries and around 100 pubs worldwide. However, it faced setbacks such as job cuts in October 2025, the closure of 10 UK bars earlier that year, backlash over paying only the legal minimum wage in 2024, allegations of a toxic culture, Watt stepping down to a co-founder role, and Dickie departing in 2025 for personal reasons.
Tilray announced the completion of the £33 million (~$44.3 million) transaction on March 4, which includes UK production facilities in Birmingham, Manchester, London, the Dogtap brewery in Ellon, Scotland, the Hop Hub distribution center in Motherwell, Lanarkshire, and 11 strategic brewpubs in locations including Birmingham, Canary Wharf, Edinburgh, Manchester, and Dublin. AlixPartners noted that no offer during the sales process would have preserved the company in its entirety.
The assets are projected to generate about $200 million in annual net revenue and $6-8 million in adjusted EBITDA for Tilray by fiscal 2027, bolstering its global beverage platform—already including brands like Alpine Beer, Atwater Brewery, Blue Point Brewing, Montauk Brewing, and SweetWater Brewing—to around $500 million in revenue, with Tilray's overall business reaching $1.2 billion annualized.
Irwin D. Simon, Tilray's chairman and CEO, said: “BrewDog is one of the most iconic, mission-driven craft beer brands in the U.K. As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth.”
The deal excludes 38 UK bars, leading to their immediate closure and 484 job losses, while 18 franchise bars will continue operating independently. BrewDog's German operations, including a Berlin brewery and bar, face liquidation. Equity crowdfunding investors (Punks), who raised £75 million since 2009, and other small shareholders receive no return, unlike preferred shareholder TSG Consumer Partners. Union Unite described it as a 'devastating day,' with general secretary Sharon Graham stating, “BrewDog workers built this brand. They deserved respect. Instead, they were treated as disposable pawns.”
Tilray is separately negotiating acquisitions of BrewDog's US and Australian assets, with a US deal expected within 30 days. US operations include the DogHouse brewery and hotel in Canal Winchester, Ohio; a restaurant in New Albany; and a location at John Glenn Columbus International Airport. Earlier this year, on January 23, BrewDog closed its Franklinton and Short North taprooms in Columbus, with the former site now listed for lease. Tilray has not detailed potential impacts on Ohio operations.
