James Watt, the founder of BrewDog, has formally submitted an offer to buy back the UK business from US-listed Tilray Brands. The bid was made through his new venture Second Best, and Watt stated on LinkedIn that 43,000 equity punk investors have already joined the offer. If successful, registered punks would receive their BrewDog equity back for free, and Watt pledged to restore the Real Living Wage, bring back employee equity, and put the community at the heart of the business. Watt stepped down as BrewDog CEO two years ago, and Tilray had acquired BrewDog assets in the UK, Ireland, the US, and Australia earlier this year.
Tilray IncFounder bids to buy back BrewDog UK from Tilray, potentially reducing Tilray's asset base and value.