BrewDog co-founder James Watt makes a new bid to buy back parts of the craft beer business he helped create, according to multiple reports. The BBC and other outlets say Watt’s offer comes months after BrewDog was sold to a US company. Watt presents the bid as an attempt to regain control of the former beer operation and to restore ownership stakes to people associated with the brand, including so-called “equity punk” investors. The Independent reports Watt is facing complaints about his takeover plans, even as he launches the bid.
Several outlets describe the structure of the bid, saying that around 43,000 equity punk investors have joined forces to back the proposal. The Financial Times and others report Watt’s aim is to restore those investors’ stakes, while The Times and Telegraph describe the bid as an effort to buy back parts of BrewDog, including the former taproom business. Other coverage frames the bid in the context of Watt quitting as CEO before BrewDog went through financial distress and later sale.
