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James Watt, co-founder of the Scottish craft beer company Brewdog, is currently under scrutiny after contacting former shareholders as part of his attempt to regain control of the firm. Complaints have been filed with the UK’s Information Commissioner’s Office (ICO), which is now reviewing the situation. These complaints arose due to concerns about how Watt obtained the contact information of previous investors, raising potential violations of data protection laws.
Earlier in the year, Brewdog was acquired by the US-based drinks company Tilray in a transaction valued at approximately £33 million. This acquisition followed the craft brewer’s financial collapse, burdened by debts exceeding £500 million, which resulted in the closure of 36 bars and left around 200,000 crowdfunding shareholders with worthless shares. Tilray’s purchase included Brewdog’s brand, intellectual property, UK breweries, and ownership of 11 bars. Meanwhile, Watt stepped down as Brewdog’s chief executive in 2024 and assumed the role of “captain and co-founder.”
Just months after the acquisition, Watt launched a bid to repurchase Brewdog through his new venture, Second Best. He claimed that 43,000 so-called equity punk investors supported this effort, but some of those contacted expressed confusion over how their details had been obtained. The Guardian reported that these investors’ concerns pointed toward a possible breach of the General Data Protection Regulation (GDPR), with the ICO responsible for enforcing these data privacy rules confirming their investigation into the matter.
Tilray has since denied involvement in Watt’s outreach to former shareholders, emphasizing that the equity punk shareholder data was not included in their acquisition and remains with Brewdog plc, which is in administration. A Tilray spokesperson stated that the company only acquired a customer database of individuals who had consented to receive Brewdog communications, and they have not authorized or participated in any contact made by Watt’s new company. They assured that their management team takes data privacy seriously and has not shared any data with external parties or former Brewdog directors
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