Brewdog put up for sale
Scottish beer and bar giant Brewdog has called in restructuring consultants AlixPartners in a move that could see the business being broken up and sold off in parts.
According to reports from Sky News, Brewdog, the brewer behind brands such as Punk IPA and Elvis Juice, has called in the advisers to assess interest from potential bidders and oversee a sale.
Distillery closure and rumours of Watt returning
The advisors, AlixPartners, have already reportedly started looking at potential buyers over the last week and a tight deadline for offers is said to have already been set.
Last month, Brewdog revealed it was closing the distillery at its headquarters in Ellon, Aberdeenshire, shuttering the business indefinitely. This coincided with rumours that James Watt, who co-founded Brewdog in 2007, was reportedly considering a bid to buy back the beer and bar business.
Brewdog, which has approximately 220,000 individual shareholders who became investors through its ‘Equity for Punks’ scheme, could be left with very little return from their average outlay of about £400 dependent upon the deal made.
In selling shares to beer fans and offering perks such as discounts and early access to new beers, Brewdog is said to have raised around £75 million from such activities. In 2009, its first such crowdfunding round took place and was followed by another round of crowdfunding in 2021.
Mounting losses, bar closures and job losses
According to Sky News, one insider said the company would now be worth far less than a previous valuation of £2 billion, which had given investors hope the business would eventually become listed on the stock market.
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Back in 2017, TSG Consumer Partners took a 21% stake in Brewdog in a move Witt hinted at a unicorn valuation of approximately US$1 billion.
However, since then, Brewdog has faced mounting losses and has been forced to close 10 UK bars and cut staff. Last year, for instance the business reported a £37 million loss in turnover which marked the company’s fifth year running of posting pre-tax losses which are now totalling £148 million.
Brewdog still has a 4% share of the UK off-trade grocery market in terms of value and owns 72 bars all over the world and employs approximately 1,400 people.
Its four breweries, which are based in Scotland, the US, Australia and Germany, could potentially be sold separately from the rest of the group as part of the deal AlixPartners decides upon.
‘No final decisions have been made’
Speaking about its next moves, the company has said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company. Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business. This is a deliberate and disciplined step with a focus on strengthening the long-term future of the Brewdog brand and its operations.”
According to the company, Brewdog “remains a global pioneer in craft beer: a world-class consumer brand, the No.1 independent brewer in the UK and with a highly engaged global community. We believe that this combination will attract substantial interest, though no final decisions have been made. Our breweries, bars, and venues continue to operate as normal. We will not comment on any further speculation.”
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