BrewDog co‑founder James Watt has issued a detailed reflection on the sale of the company he helped build over nearly two decades and on the job losses that followed. In a public statement, he described the past week as “incredibly hard” and acknowledged the impact of the sale on staff and small investors.
Watt said he was “heartbroken” for team members who have lost their jobs and for the company’s “equity punks” who did not receive the return on their investment they had hoped for. He noted that he had dedicated around 20 years of his life to BrewDog, from its launch in 2007 through to early 2024 when he stepped down as chief executive.
He recalled starting the business at the age of 24 while working part‑time on a fishing boat and living in his father’s spare room, and said he had never run a business before. Over time, BrewDog grew from a small operation into a large beer brand that employed thousands of people and sought to challenge established players in the industry.
Watt reflected that the company’s high profile and rapid success changed how BrewDog was seen by the public, by the media and, in some respects, internally as well. He said that when an underdog strategy becomes so successful that the business is perceived as an incumbent, the original approach stops working, and acknowledged he should have recognised that shift earlier.
Looking back on key decisions, he said there were many things he would have done differently. He highlighted periods of rapid expansion and broad diversification, and said there were times when spending across the business was not controlled tightly enough. He also accepted that his responses to certain crises were not always consistent with how he would have wanted to act.
Across his 17 years in charge, he described experiencing highs, lows, successes, failures and significant risks. He commented that the mistakes made during that time have been felt more keenly than the comfort offered by the company’s successes. He added that he would have liked to protect every job and every equity investment, but ultimately was unable to do so.
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Watt said there is more to be said about the final chapter of BrewDog’s recent history, indicating he may share further details in the future. For now, he focused on thanking those affected. He told departing team members that they had helped build something that mattered and expressed regret that they could not be shielded from the outcome.
He also thanked the company’s equity investors for their belief in the business “when this was just two humans, one dog and a crazy idea”. He said it had been an honour and a privilege to dedicate his life to trying to build something significant for staff, investors and supporters, and apologised for not being able to deliver the outcome they had hoped for.
Watt concluded by saying that he still cares deeply about the company and regards it as an intrinsic part of his life. Although future chapters will now be written by others, he said he will continue to support the business from the sidelines.
