BrewDog has been sold to a US brewer and cannabis group as part of a £33 million deal to save the troubled craft beer brand.
Tilray, which owns a raft of craft breweries in the US, said it has bought a number of BrewDog assets including its UK brewing operation, meaning 11 of its pub venues across the UK and Ireland will remain open.
But, 38 bars which were not included in the deal are still set to close and will result in the loss of 484 jobs, BrewDog said.
Tilray is separately negotiating deals to buy certain BrewDog assets in the US and Australia.
The Scotland-based brewer, which makes craft beer such as Punk IPA and Elvis Juice, closed its pubs on Monday as it sought to confirm a takeover.
Irwin D Simon, chairman and chief executive of Tilray Brands, said: ‘BrewDog is one of the most iconic, mission-driven craft beer brands in the UK.
‘It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.
‘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.’
This is a breaking news story. More to follow.
