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BrewDog co-founder and former CEO James Watt has formally submitted an offer to acquire the craft beer business from Tilray Brands through his new venture Second Best.

James Taylor has stepped down as chief executive of BrewDog, little more than a year after taking on the role.

Tilray Brands has confirmed its latest agreement to acquire certain BrewDog assets in the US, following its purchase of the craft beer group’s UK, Ireland and Australia operations earlier this month.

Tilray Brands has completed its acquisition of BrewDog’s Australia business, following its purchase of the brewer’s UK and Ireland platform last week.

Tilray Brands has acquired certain assets of BrewDog’s global platform, including the brand and related IP, UK brewing operations and 11 brewpubs in the UK and Ireland, for £33 million.

Scottish craft beer company BrewDog has closed all of its bars for the day today (2 March 2026), with an announcement regarding the sale of the business expected early this week.

BrewDog will cease spirits production at its Ellon distillery, refocusing on beer and ready-to-drink cocktails amid market pressures.

BrewDog has added a brand-new, functional alcohol-free beer, containing magnesium, balm extract and chamomile, to its portfolio.

BrewDog, the Scottish craft beer brand, is experiencing a substantial decline in its market presence, with nearly 2,000 pubs across the UK severing ties with the brand.