Exclusive – James Watt considering bid to buy back BrewDog: James Watt, who co-founded BrewDog with Martin Dickie in 2007, is considering launching a bid to buy back the Scottish brewer and retailer, Propel has learned. Propel understands that BrewDog, which is backed by San Francisco-based TSG Consumer Partners, has been working with advisors on its future options and Watt is weighing up whether to make a bid to take back control of the business. The company, which currently operates more than 100 bars and hotels across the world, alongside its brewing operation, reported turnover of £357m in 2024. Last October, BrewDog announced job cuts across its business after posting a £37m loss in 2024. It was the fifth year running that the company has posted pre-tax losses – now totalling £148m. The announcement came after the departure of BrewDog co-founder Dickie and the closure of ten bars across the UK after a strategic review, with the business looking to position its bar portfolio under – “destination hubs” and “community bars” for “long-term, profitable growth”. BrewDog also rowed back on plans to become a public company as chief executive James Taylor said he was plotting a return to growth underpinned by “sensible financial discipline”. A flotation has long been mooted for the business with suggestions of a valuation of about £2bn. In April 2017, BrewDog offloaded a 22% stake to TSG in a deal valuing the craft brewer at circa £1bn. Watt and Dickie, who started the business in Dickie’s mum’s garage in Aberdeenshire, reportedly took away £100m each from the deal. Watt stepped down as chief executive of the business in May 2024 but remained on the company’s board in the new role of “captain and co-founder”. Watt said at the time: “Seventeen years ago, Martin and I founded BrewDog in Martin’s mum’s garage. With two humans and one dog we set out on a bold mission to make other people as passionate about great beer as we are. Little could I have imagined that this journey would see us build the world’s leading craft beer business, operate in more than 70 countries, create a unicorn, ship more than one billion cans of beer and be fortunate enough to work with such amazing people every single day. As a team we have won gold medals at the world beer cup, opened showstopping locations all over the planet, turned the beer industry on its head, continually taken a stand for the things we believe in, created thousands of jobs, broken crowdfunding records and continually strived to build the best company we possibly could. For almost two decades pretty much every second of my waking existence has been focused on this amazing business. Being able to co-found and then lead BrewDog and our fantastic team has been the greatest privilege and the best adventure I could ever have wished for. After 17 fantastic years as chief executive, I have decided to transition into a new role in the business, one of ‘captain and co-founder’. In my new role I will remain as a board member, a director and I will also be part-time strategic advisor to the business and our leadership team. Furthermore, I will retain my BrewDog shareholding.” BrewDog and Watt declined to comment. BrewDog features in the Who’s Who of UK Hospitality, which is one of six databases exclusive to Premium Club subscribers. The next edition will be released on Monday (26 January) and feature 1,387 companies. The companies, listed in alphabetical order, have their most recent developments reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.