James Watt, the co-founder of Brewdog, has launched a bid to buy back the craft beer company he stepped away from two years ago, in a move that could return one of Britain's most controversial and successful entrepreneurs to the helm of the business he built.
Watt, who co-founded Brewdog with Martin Dickie in 2007, stepped down as chief executive in 2024 but retained a significant shareholding. The company has since struggled with rising costs, increased competition in the craft beer market and a valuation that has fallen sharply from its peak. Watt's bid, which is being backed by a consortium of private investors, would take the company private again after a period of public listing.
Brewdog's trajectory from a two-man operation in a Fraserburgh industrial unit to a global brand with bars from Columbus to Tokyo is one of the most remarkable business stories of the past two decades. But the company's journey has also been marked by controversy, including accusations of a toxic workplace culture, disputes with former employees and criticism of its marketing practices. Watt himself has been a polarising figure, praised by supporters as a visionary and dismissed by critics as a self-mythologiser.
The bid is expected to face scrutiny from shareholders who bought in at higher valuations and may resist a take-private at the current price. Watt said he believed the company's best future lay outside the public markets, where it could focus on long-term brand building rather than quarterly reporting.
The board said it would evaluate the proposal in the interests of all shareholders. A decision is expected within weeks.
Join in — free. Comments on Daily Junction are for members, so real names stay rare and bots stay out.
One field. We email you a 6-digit code — no password needed. Your comment is kept while you do it.
Under 13? You’ll need a parent’s OK first — it takes them one click.