economy
February 16, 2026
BrewDog sale plan leaves some ‘equity punk’ investors steaming
About 220,000 people could be left empty-handed if a deal prioritizes the company’s private equity backer
TL;DR
- BrewDog is considering a sale or breakup, causing anger among its "equity punk" shareholders.
- Around 220,000 small investors who contributed £75m through crowdfunding may lose their investments.
- The private equity firm TSG, which invested in 2017, is expected to be prioritized in any deal.
- BrewDog has experienced five years of losses and a recent fall in sales.
- The company's reputation has been tarnished by allegations of a "toxic" workplace and the departure of co-founder James Watt.
- James Watt, who stepped down in 2024, is reportedly exploring options to buy back part or all of the business.
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