Tilray – ‘we expect BrewDog to be cash flow positive in 2027’, sees clear path to rebuilding towards its prior valuation of more than $1bn: New York-based brewer and cannabis producer Tilray – which paid £33m to buy BrewDog’s global intellectual property rights, its Aberdeenshire brewery and 11 of its UK bars in a pre-pack administration at the start of March – has said it expects the business to be cash flow positive in 2027 and is set to invest in a “brewpub of the future” at one of its existing locations. Six weeks following the acquisition, Tilray, which subsequently acquired BrewDog’s operations in the US and Australia, said it has moved with “speed and discipline to stabilise and strengthen the platform, positioning the brand for its next phase of growth”. Tilray said it has stabilised brewing volumes, maintained service levels across channels to ensure consistent stock availability, and has begun onboarding new distribution and strategic partners to support expansion. Tilray chief executive Irwin Simon said: "Our priorities are clear: strengthen BrewDog, accelerate innovation, and scale our global beverage platform. We are already taking decisive steps to reinvest in the BrewDog brand, innovation pipeline, and brewpub experience, and we see a clear path to rebuilding BrewDog towards its prior valuation of more than $1bn. We are executing against a focused plan to expand BrewDog across the UK, Australia, and the United States, while further developing the brand in key growth markets, including the Middle East and India. At the same time, we are leveraging our infrastructure and distribution network to scale our broader beverage portfolio and support the growth of our American craft brands in the UK and global partners like Carlsberg across the US. This is about unlocking incremental volume, expanding distribution, and increasing utilisation across our platform to drive sustainable, long-term growth.” Tilray said it expects the BrewDog business to be cash flow positive in 2027 and is making targeted investments in the brand and the “revitalisation and modernisation of its existing brewpub estate – areas that have seen limited investment in recent years”. Tilray said: “This provides a strong foundation to enhance performance through targeted operational improvements and focused brand building. These efforts are centred on reimagining the brewpub experience to better connect with today's consumers while positioning the brand for long-term relevance. By elevating the in-venue experience with modern activations, strengthening brand engagement, and aligning with evolving consumer preferences, as part of this, Tilray will invest in a ‘brewpub of the future’ at one of its existing locations, allowing it to analyse, assess and recommend future changes in its brewpub network. Tilray is building a more compelling BrewDog platform for the future.” Tilray said it is also seeing strong and growing demand for its American craft portfolio in the UK, creating “near-term opportunities to expand distribution and build brand presence across the market”. Building on this momentum, the company said it plans to launch its Hi*Ball Energy drink in the UK in May, “further broadening its beverage offering and capturing incremental consumer demand within the fast-growing functional beverage category”.

Propel launches Unlimited Plus option for Premium subscribers: Propel has launched a new Premium Unlimited Plus option for Propel subscribers. The Unlimited Plus option, which costs £1,995 plus VAT per annum, has some amazing additional benefits to the unlimited option which costs £995 plus VAT. Subscribers get four free tickets to Propel’s paid-for conferences – Excellence in Pub & Bar (19 May), Operational Excellence (9 July) and Talent & Training (15 October) – and the opportunity to run one free sponsored message or situation vacant notice during the year on the newsletter. Existing subscribers can upgrade immediately if they want and the clock starts again on their year. The additional benefits are worth circa £2,500. Propel managing director Paul Charity said: “The Premium subscription is like a loyalty club, and these additional benefits are a response to the requests for a fuller package of benefits. Existing subscribers can upgrade straightaway – and their year's membership re-starts. We have held the price of Premium membership for four years whilst adding benefits. Existing price points and benefits carry on – this is simply a chance to enjoy even more benefits.” Email: kai.kirkman@propelinfo.com to sign up for Premium.