James Watt, the co‑founder and former Chief Executive of BrewDog, is considering a bid to regain control of the Scottish brewer and bars group, as the business talks to advisers about its future.
The move was first reported by hospitality industry outlet Propel.
Watt stepped down as boss in May 2024 but stayed on the board in a non‑executive “captain and co‑founder” role. Day‑to‑day leadership later moved to Managing Director James Taylor.
Any bid would come amid ongoing restructuring at the Ellon‑based business, which posted a 2024 pre‑tax loss of about £37m – the fifth year in a row it has been in the red – and announced job cuts across several departments last autumn.
The group has also closed a number of UK sites after a strategic review, while signalling a push to concentrate bars into “destination hubs” and “community bars” for long‑term profitable growth.
BrewDog’s ownership has included US private‑equity investor TSG Consumer Partners since 2017, when TSG acquired around 22% of the business in a deal that valued the company at about £1bn.
An initial public offering has been floated periodically – at times at notional valuations around £2bn – but the business has more recently focused on cutting costs.
What happens next is unclear. No formal offer has been announced, there’s no timetable, and the company says it won’t comment on industry chatter.
