Is James Watt considering buying back Brewdog?
James Watt, who co-founded Scottish brewery Brewdog in 2007, is reportedly considering a bid to buy back the beer and bar business.
According to reports in Propel, Brewdog, which is backed by US-based investment firm TSG Consumer Partners, is working with advisors on its future options and Watt is considering whether to make a bid to take back control of the business.
Job cuts and losses
The company, which operates its brewery in Scotland as well as more than 100 bars and hotels all over the world, has reported turnover of in 2024 of £357 million, according to Propel.
Last October, Brewdog reportedly announced job cuts across the business following a £37 million loss in 2024 which, according to Propel, marked the company’s fifth year running of posting pre-tax losses which are now totalling £148 million.
The announcement followed news of the departure of Brewdog’s other co-founder Martin Dickie as well as the business closing 10 of its UK venues.
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Brewdog managing director James Taylor recently said he was enacting “sensible financial discipline” with regard to running the company.
Still its ‘captain’
Propel has outlined that a flotation has been mooted by the business with suggestions of a valuation of about £2 billion and highlighted how in April 2017, Brewdog offloaded a 22% stake of the business to TSG in a deal valuing the business at circa £1 billion. Both Watt and Dickie reportedly took away £100 million each from the deal.
Watt stepped down from the role of chief executive in May 2024 but remained on the board in the role of “captain and co-founder” and in the part time role retained both his shares as well as ability to be an advisor to the business.
Brewdog has not quashed the rumours, but instead has chosen to “decline to comment” on the matter and told db it “wouldn’t comment on industry speculation”.
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