Tilray chief executive Irwin Simon told The Times he remained “really happy” with the decision to buy BrewDog for £33m.
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The US-listed group has used the additional investment to support cash flow, rebuild supply chains, rehire staff and carry out maintenance across the bar estate.
Simon said: “It’s a phenomenal brand, phenomenal assets, phenomenal opportunities. We probably put another £50m back into this business from a cash flow and an investment standpoint.
“We were the ones funding payroll and inventories, ingredients and stuff like that. It’s in a good place but there’s still a lot of work to do.”
Bar estate
Tilray has started using BrewDog’s UK bar estate as a platform for its wider drinks portfolio, with 24 American beers introduced, alongside changes to the food and spirits offer.
The group has also rolled out Hi*Ball, a new energy drink.
Simon said BrewDog gave Tilray a stronger route into the UK market than trying to build distribution for its US brands from scratch.
He said: “Do you know how hard it would have been for me or for Tilray to come to the UK and introduce our American brands without having BrewDog?
“We would have spent millions of dollars to get distribution and to get the consumer aware of it. This is a big, big plus for Tilray and a big, big advantage.”
BrewDog’s Inverurie bar reopened on Saturday, taking Tilray’s directly operated UK estate to 17 sites.
The site will trial a new community collaboration model, with local residents, former equity investors and community groups helping shape events and programming.
Future pubs
Simon said the business was exploring what the “pub of the future” could look like, including greater use of sports screens and leisure-led features such as golf simulators and shuffleboard.
A wider food menu overhaul is also planned.
Tilray is also understood to be looking at opportunities for BrewDog bars in international markets with large Scottish expatriate communities, including parts of Canada and the US East Coast.
Discussions are also reportedly taking place with potential partners in China, Japan, India and the Middle East.
Simon pointed to strong trade during World Cup fixtures and the presence of Scottish fans in the US as signs of renewed momentum for the brand.
Longer term, Tilray is also considering a revival of BrewDog’s distilling business, with around 1,700 barrels of whisky currently maturing.
