James Watt, co-founder of Scottish craft brewery Brewdog, is under investigation by the Information Commissioner’s Office following complaints related to his efforts to regain control of the company. The data protection authority stated it was reviewing information provided in connection with Watt’s activities.
Earlier this year, Brewdog was acquired by US drinks manufacturer Tilray in a transaction valued at approximately £33 million following the company’s collapse under debts exceeding £500 million. The acquisition resulted in the closure of 36 bars and rendered shares held by roughly 200,000 crowdfunding investors worthless. Tilray obtained Brewdog’s brand, intellectual property, UK breweries, and 11 bars through the takeover.
On Wednesday, Watt submitted an offer to repurchase Brewdog through his newly established beer company, Second Best, claiming that approximately 43,000 equity investors had joined forces to support the bid. However, multiple shareholders contacted by Watt reported uncertainty regarding how he obtained their contact information, prompting concerns about potential violations of general data protection regulations.
Tilray management rejected the buyback proposal, indicating the brand was not available for acquisition. The company stated it had not provided Watt with shareholder data from the Equity for Punks investment scheme, noting that such records remain under the control of Brewdog plc in administration. Tilray emphasized it acquired only a customer relationship management database comprising individuals who had explicitly opted into Brewdog communications, and that no data held by the company was shared with external parties or former directors.
Watt co-founded Brewdog with Martin Dickie in Aberdeenshire in 2007. The company previously operated four breweries and approximately 100 establishments worldwide, with valuations exceeding $1 billion at its height. Watt transitioned from chief executive to captain and co-founder in 2024.