BrewDog Explores Strategic Investment Options as Financial Pressures Mount

Scotland’s prominent craft beer operator BrewDog has engaged restructuring specialists AlixPartners to conduct a structured evaluation of potential investment opportunities, a move that could result in a significant change of ownership for the Aberdeenshire-based business.

The development comes as the hospitality sector continues to navigate difficult trading conditions, with the business having endured five consecutive years of financial losses. In 2024, the company recorded a loss of £34.1m, though this represented an improvement from the £62.7m loss the previous year.

Founded in Ellon in 2007 by James Watt and Martin Dickie, the business has expanded internationally with brewing operations across Scotland, the United States, Australia and Germany, alongside more than 70 bars worldwide. The company’s workforce currently stands at approximately 1,400 employees.

In a statement addressing the appointment, BrewDog emphasised that the initiative follows twelve months of cost management and operational efficiency improvements during 2025. The business characterised the decision as a calculated measure aimed at reinforcing the brand’s long-term viability and operational stability.

Management confirmed that trading would continue without disruption across all sites, with bars and production facilities maintaining normal operations throughout the evaluation period. The company anticipates generating considerable market interest, though no final determinations have been reached regarding the business’s future structure.

The announcement represents the latest chapter in a turbulent period for the craft beer brand. Last month, BrewDog confirmed the closure of its spirits division, BrewDog Distilling Co., bringing an end to production of brands including Lonewolf gin, Abstrakt vodka and Duo rum Just Drinks. The company also implemented redundancies across its operations in October, citing challenging market dynamics.

James Watt stepped down from the chief executive position in 2024 though remains a significant shareholder, whilst co-founder Martin Dickie departed the business last year. US private equity firm TSG Consumer Partners currently holds a 21 per cent stake following its 2017 investment.

The situation carries particular significance for the approximately 220,000 individual investors who purchased shares through the company’s Equity for Punks crowdfunding programme , many of whom contributed around £400 per person. The investment vehicle raised roughly £75m between 2009 and 2021, offering shareholders benefits such as discounted products and priority access to new releases.

A spokesperson for Brewdog said: “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.”