Scottish beer giant Brewdog has called in restructuring consultants Alix Partners, with rumours that the business may be sold off in parts.
Following a spate of difficult events for the brewer – including the closure of multiple pubs, the shutdown of its distillery in Ellon and ongoing public image problems – the business may now be looking for new ownership.
According to recent reports, the brewer called in the advisers to assess interest from possible bidders.
According to Sky News, which spoke to an insider, the company is now expected to be worth much less than the £2bn valuation previously announced.
Punk shareholders
Amid the flurry of news, particular dissatisfaction has been expressed by shareholders who became investors through Brewdog’s Equity for Punks scheme, launched in 2009.
If a sale goes through, it is anticipated that the approximately 220,000 individual shareholders could be left with worthless investments.
This follows seven rounds of crowdfunding in which investors contributed around £75m to the business.
Likewise, concern has been expressed by staff members who work at the brewer, said Unite the Union.
According to Unite, staff had received only a single email from senior management, with some finding out about the potential sale from the press.
Brewdog statement
In response to the news, the company said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company.
“Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed Alix Partners 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.”
It added that no final decisions had been made and that it would not comment on further speculation.
