"BrewDog has been sold to American firm Tilray Brands for just 33m, with close to 500 people being made redundant. In total, 38 bars across the UK will be set for closure, with the deal encompassing only 11 pubs along with the brand and brewing operations."
"After failing to turn a profit in recent years, BrewDog appointed administrators to oversee a sale, with Tilray - which owns a range of other craft brewing companies in its portfolio, along with businesses operating in the medical cannabis sector - emerging as the successful buyer."
"Following the closure with immediate effect of the 38 bars, there will be 484 redundancies - though 733 employees' jobs have been preserved under the terms of the sale, and will now become workers for Tilray Brands UK."
BrewDog, a beer-brewing company that failed to achieve profitability in recent years, has been acquired by American firm Tilray Brands for £33 million. The sale results in significant job losses, with 484 redundancies and the immediate closure of 38 bars across the UK. However, 733 employees retain their positions under the new ownership and will become Tilray Brands UK workers. The deal includes the brand, brewing operations, and 11 pubs. Tilray, which operates multiple craft brewing companies and medical cannabis businesses, emerged as the successful buyer after BrewDog appointed administrators to oversee the sale. Prior challenges included a £37 million loss the previous year and earlier closures of gin and vodka operations.
Read at www.independent.co.uk
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