BrewDog, the leading independent craft brewer behind brands including Punk IPA and Elvis Juice, has called in advisers to oversee a sale that could trigger a break-up of one of Scotland’s best-known businesses.
Sky News has learnt that the board of BrewDog has appointed AlixPartners, the restructuring experts, to field interest from potential bidders.
Sources said that AlixPartners had begun sounding out prospective suitors in the last few days, with a quickfire deadline for indicative offers understood to have been set.
A deal could see many of BrewDog’s roughly 220,000 individual shareholders, who became investors through its ‘Equity for Punks’ scheme, left with little return from their average outlay of about £400.
Others, however, made a significant return on their investment by selling their stock in previous funding rounds.
The company raised about £75m overall from the sale of shares to customers, offering perks such as discounts and early access to new craft beers.
Its first such crowdfunding took place in 2009, with the most recent in 2021.
The sale process comes amid tough conditions for independent brewers, with the group behind Black Sheep recently being sold through a pre-pack administration.
Founded in 2007, BrewDog earned a reputation for innovation, with founders James Watt and Martin Dickie frequently courting controversy with the brand’s marketing campaigns.
Mr Watt, who remains one of BrewDog’s biggest shareholders, is now reportedly considering a bid to buy the company back, with sources indicating that he is canvassing support from financial backers.
One insider said the company would now command a price tag of far less than a once-mooted valuation of £2bn, which had stoked hopes among investors of an eventual stock market listing.
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