The UK’s BrewDog, a prominent craft beer maker, has put itself up for sale, potentially leading to a break-up of the company after a period of sustained financial challenges. The move, announced on , sees the appointment of restructuring advisors AlixPartners to oversee a sale process aimed at securing future investment.
Founded in 2007 by James Watt and Martin Dickie, BrewDog rose to prominence as a disruptor in the beer industry, known for its Punk IPA and Elvis Juice brands. However, the company has faced increasing headwinds in recent years, culminating in five consecutive years of losses totaling £148 million since 2019. A pre-tax loss of £36.6 million was reported in 2024, an improvement from the £59.2 million deficit in 2023, but still falling short of a return to profitability.
The decision to explore a sale comes after BrewDog announced last month it was closing its distilling brands, raising concerns about job security at its facility in Ellon, Aberdeenshire. The company stated this move was intended to refocus its efforts on its core beer products. Approximately 1,400 people are employed across BrewDog’s operations, including breweries in Ellon, the US, Australia and Germany, as well as 72 bars globally.
A spokesperson for BrewDog emphasized that the sale process is a proactive step taken in response to a challenging economic climate. “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,” the spokesperson said. “Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business.”
The company’s financial struggles are underscored by stagnant revenue, which remained largely unchanged at £357 million in 2024, compared to £354.6 million the previous year. This lack of revenue growth, despite its global footprint, has contributed to the need for external investment. BrewDog’s largest shareholder, US private equity firm TSG Consumer Partners, which holds a 22% stake acquired in 2017, has already provided a £20 million loan to bolster the company’s finances. However, interest payments on its debt have risen significantly, reaching £17.3 million annually, with some debt carrying interest rates as high as 18%.
The potential break-up of BrewDog raises questions about the future of the company’s crowdfunding investors. Around 220,000 individuals invested in BrewDog through its “Equity for Punks” scheme, averaging an investment of £400 each. The outcome of the sale process will determine the returns, if any, these investors receive.
BrewDog’s situation reflects broader challenges within the craft beer industry, where growth has slowed and competition has intensified. The company’s decision to streamline its operations and seek new investment signals a recognition of the need to adapt to a changing market landscape. The appointment of AlixPartners suggests a willingness to consider all options, including a sale of the entire business or a restructuring that could involve the divestiture of certain assets.
The spokesperson for BrewDog reiterated that the company remains a leading force in the craft beer sector. “BrewDog remains a global pioneer in craft beer: a world-class consumer brand, the No 1 independent brewer in the UK and with a highly engaged global community,” they stated. “We believe that this combination will attract substantial interest, though no final decisions have been made.”
The sale process is expected to attract interest from a range of potential buyers, including other brewing companies, private equity firms, and potentially even larger beverage corporations. The outcome will likely have significant implications for the future of the craft beer industry in the UK and beyond. BrewDog’s breweries, bars, and venues will continue to operate normally throughout the process, the company has confirmed.
The company previously reported a £37 million loss in 2025 after slowing sales growth, prompting job cuts across the business in October of that year.
