The company has acquired the global BrewDog brand and related intellectual property, as well as the UK brewing operations and 11 bars. Under the deal, completed via a pre-pack adminsitration, a total of 38 bars in the UK will close with immediate effect.
The 11 ‘profitable’ BrewDog bars it is taking on are located in Birmingham, Canary Wharf, Dogtap Ellon, Dublin, Edinburgh DogHouse, Lothian Road, Manchester, Paddington, Seven Dials, Tower Hill, and Waterloo.
The £33m price tag is considerably lower than the $2bn valuation that was placed on the company at the height of its popularity.
Tilray confirmed the acquisition today (2 March), saying it ‘presents a significant opportunity for growth in the UK and previously untapped international markets’. It believes the assets acquired are expected to generate annual net revenue of $200m and adjusted EBITDA of between $6m and $8m.
“BrewDog is one of the most iconic, mission-driven craft beer brands in the UK,” says Irwin D. Simon, chairman and chief executive officer of Tilray Brands, who was previously president and CEO of Hain Celestial, which owned UK food brands including Ella’s Kitchen, Hartleys, Tilda, New Covent Garden, and Linda McCartney.
“It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.
“What makes BrewDog truly special has always been its brewers, its brewpubs and its passionate community of beer fans.
“As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth.
“BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”
Tilray, whose current drinks portfolio includes several craft breweries in the US that it acquired from Molson Coors in 2024, and Anheuser‑Busch InBev in 2023, says it is also separately negotiating to acquire BrewDog assets in the US and Australia.