Tilray Brands acquires BrewDog for US$44.1M
Deal preserves 733 jobs but 38 UK bars will close under administration process.
UK – Tilray Brands has acquired UK beer business BrewDog for £33 million (US$44.1 million), marking a significant expansion of its international brewing footprint.
Under the agreement, Tilray has purchased BrewDog’s worldwide intellectual property, its UK brewing operations and 11 bars located in London, Birmingham, Manchester and Dublin.
The deal also includes a bar in Ellon, Scotland, where BrewDog operates a brewery.
Tilray said it remains in discussions to acquire “certain” BrewDog assets in the United States and Australia, with those elements expected to be finalised under a separate purchase agreement within approximately 30 days.
Irwin Simon, chairman and CEO of Tilray, said: “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.”
Last month, BrewDog appointed AlixPartners to assess potential interest in the loss-making business. The Scotland-based brewer, founded in 2007, closed its bars on March 2 as it worked to finalise a transaction.
AlixPartners, which was appointed administrator to BrewDog’s UK entities, confirmed that 38 UK bars will close. The firm said the deal with Tilray “preserves” 733 jobs in the country but added that the majority bar closures will result in 484 redundancies.
Tilray stated that the acquired brewing and related operating assets are expected to generate annual net revenue of around US$200 million and adjusted EBITDA of US$6–8 million.
The US-listed group expects the business to become cash-flow positive from its 2027 financial year, beginning in June.
In 2024, BrewDog reported a loss of £34.1 million, compared with £62.7 million the previous year. Operating losses narrowed to £19.6 million from £45.6 million in 2023, while net revenue totalled £280.2 million, slightly below £280.9 million the year before.
Tilray has expanded its brewing operations in recent years, acquiring US brands from Anheuser-Busch InBev in 2023 and four breweries from Molson Coors Beverage Company in 2024.
Last month, the company also announced a brewing agreement with Carlsberg in the United States.
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