Irwin Simon, chief executive of the US listed drinks and cannabis group, told The Times that the company is considering franchise agreements that could see some of the 38 pubs closed during BrewDog’s administration reopen under new operators.
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Tilray completed a £33m deal last week to acquire BrewDog’s brand, intellectual property, Aberdeenshire brewery and 11 bars in the UK and Ireland, preserving around 733 jobs. However, 38 sites closed with the loss of 484 roles.
Former BrewDog chief executive and co founder James Watt said last week he was “heartbroken” following the sale and resulting redundancies, saying he was “heartbroken for all of the hard working and passionate team members who have lost their jobs”.
Union Unite described redundant workers as “disposable pawns” and criticised the manner in which the redundancies were communicated.
International expansion
Simon said the acquisition provides Tilray with a platform to expand the BrewDog brand internationally while strengthening its presence in the UK market.
“This gave me a great brand, with the distribution, with the manufacturing and with the infrastructure,” he said.
“There is a lot to do here with BrewDog, but it ultimately was a good entry point for bringing some of our brands to the UK and Europe.”
The group is also in discussions to acquire additional BrewDog assets in the US and Australia, including breweries, bars and a hotel.
Smaller venues
Simon said Tilray is also considering reopening more UK sites directly, with talks under way about adding four further venues from the estate that closed during the administration process.
He suggested future bar openings would likely focus on smaller venues rather than large format sites.
“I think we have got to learn from the past mistakes that were made, but brew pubs have a major purpose for marketing,” he said.
While BrewDog had previously announced plans to shut its spirits division, Simon said the distillery could now be revived.
“That is back on the table and more than likely we will get that back up and going again,” he said.
Tilray is also seeking to maintain links with BrewDog’s community of more than 220,000 small shareholders, known as Equity Punks, who lost their investment following the administration.
Simon said the company would look to continue benefits such as discounts on beer and food and explore other ways to keep the group engaged as brand ambassadors.
