Nearly 500 jobs to be lost in BrewDog’s takeover by American firm Tilr

Nearly 500 jobs are expected to be lost when craft beer giant BrewDog is taken over by an American cannabis firm.

One MP has branded the move “disastrous” for workers, while crowdfund investors look set to be left empty handed.

Tilray Brands, which produces medicinal cannabis and craft beer in the US, has acquired the Scottish brewer for £33m after it fell into administration on Monday.

The move looks set to see the loss of 484 jobs and the closure of 38 bars.

BrewDog’s 18 franchise bars in the UK and internationally will continue to operate, however.

Some 733 jobs in the UK will also be spared, transferring over to Tilray.

The move will see the US firm take control of BrewDog facilities including its brewery in Ellon, Aberdeenshire, and The Hop Hub, a national distribution centre in Motherwell, Lanarkshire.

The brewer, which makes craft beer such as Punk IPA and Elvis Juice, closed its pubs on Monday as it sought to confirm a takeover.

In February, consultants AlixPartners were called in to oversee a strategic review and sale process for the business.

On Monday, however, they confirmed that the firm would be put into administration.

Founder James Watt was among parties to hold talks in a bid to secure a potential takeover.

Investors in BrewDog’s “equity for punks” had raised concerns after weeks of uncertainty about the business’s future.

It was one of a number of crowdfunding initiatives set up by the firm before 2021.

Administrators confirmed that any investors would be left empty handed by the deal.

Clare Kennedy, a partner and managing director at AlixPartners said: “As one would expect over the past two weeks, we have received significant interest in the BrewDog business…