BrewDog’s founder James Watt says he is “heartbroken” for those who have lost investments after the company was taken over by a US firm this week.
Mr Watt also shared his sadness for those who had lost their jobs at the Scotland-based brewer and said there are “so many other things I would have done differently”.
Tilray Brands acquired BrewDog in a £33 million deal, which led to 38 bars being closed and the loss of 484 jobs.
The deal meant left those who had invested in BrewDog through its “equity for punks” crowdfunding rounds empty-handed.
Mr Watt co-founded craft beer giant BrewDog in Aberdeenshire in 2007 with the brand growing rapidly afterwards.
He stepped down as chief executive in 2024 to become its “captain and co-founder”.
On Wednesday, he shared a post on social media saying this week had been “incredibly hard”.
He said: “I am heartbroken for all of the hard working and passionate team members who have lost their jobs.
“I am heartbroken for all of our brilliant equity punks who did not get the return on their investment they wanted.”
He continued: “I was 24, working part time on a fishing boat, and still living in my dad’s spare room when we started BrewDog. I had never run a business before, I had no idea what I was really doing and I just made it all up as I went along.
“When an underdog strategy works so well that people perceive you as the incumbent, that strategy breaks down, and I should have recognised that earlier.
“With the benefit of hindsight there are also so many other things I would have done differently.
“At times we expanded too fast, diversified too broadly and I feel that I did not respond to certain crises that we faced (and we faced many) in a way that was authentic to who we were.”
Mr Watt also spoke of his regrets at being unable to save jobs and investments.
He said: “I would have loved to save every single job and every single equity punk investment. Ultimately, I couldn’t. That will stay with me.
“To our team members leaving this week: thank you. You helped build something that mattered. I am sorry we could not protect you.
“To our equity punks: thank you for having the conviction to believe in the business when this was just two humans, one dog and a crazy idea.”
BrewDog’s 18 franchise bars in the UK and internationally will continue to operate following the company purchase.
The Tilray deal will see it take control of BrewDog facilities including its brewery in Ellon, Aberdeenshire, and The Hop Hub, a national distribution centre in Motherwell, Lanarkshire.
