What happened: US cannabis and drinks company Tilray purchased BrewDog's UK and Irish operations for £33m. The deal includes the brand, intellectual property, UK brewing, and 11 bars, but 38 bars will close, costing 484 jobs.
Why it matters:
- Significant job losses affect nearly 500 BrewDog employees in the UK and Ireland.
- Early investors and crowdfunders in BrewDog face losses as the company’s assets change hands.
MNN Take: The acquisition reflects ongoing consolidation in the drinks industry, with Tilray focusing on key assets while closing less profitable locations. This impacts staff and investors connected to BrewDog’s UK and Irish operations.
Sources: Guardian UK