The New York-based cannabis and lifestyle giant secured the Aberdeenshire-founded firm for £33 million in a pre-pack administration deal.

While the move preserves the brand’s intellectual property and its core brewing operations in Ellon, it signals a painful contraction for the company’s extensive Scottish footprint and its famously loyal “Equity Punk” investor base.

The human cost of the transition is significant, with 484 redundancies announced across the UK as 38 bars shutter their doors with immediate effect. The impact is felt keenly in Scotland, where nine outlets have closed, including two each in Glasgow and Aberdeen, alongside bars in Edinburgh’s Cowgate, Inverurie, Perth, St Andrews, and Stirling.

Only three Scottish sites survived the cut: the flagship brewery taproom in Ellon and two Edinburgh locations on Lothian Road and at the Doghouse. These closures represent a stark decline for a business that, at its 2017 peak, was valued at approximately £900m.

For the 220,000 small-scale shareholders who collectively injected £75m into the “Equity for Punks” crowdfunding schemes, the administration likely marks the total loss of their financial stakes.

Co-founders James Watt and Martin Dickie, along with private equity firm TSG Consumer Partners, also face seeing their holdings wiped out. Despite the financial wipeout, Tilray has indicated an interest in maintaining certain community benefits, such as bar discounts, to appease a fan base that was instrumental in BrewDog’s global ascent.

Tilray’s leadership aims to refocus the brand on its craft beer roots and return the Motherwell distribution centre and Ellon brewery to profitable growth.

Irwin D. Simon, chairman and CEO of Tilray Brands, said: “BrewDog is one of the most iconic, mission-driven craft beer brands in the UK. It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.

“What makes BrewDog truly special has always been its brewers, its brewpubs and its passionate community of beer fans.

“As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth. BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”

Mr Simon continued: “Tilray’s management brings operational and strategic expertise, a diversified global beverage infrastructure and a disciplined investment approach needed to unlock BrewDog’s next phase of growth.

“In addition, my team and I have significant experience in the UK market where we previously built an c. $1.5 billion consumer packaged goods business at my prior company with beloved brands, including Ella’s Kitchen, Hartleys, Tilda, New Covent Garden and Linda McCartney.

“With the BrewDog acquisition, our total global beverage platform is expected to grow to c. $500 million in annual revenue, creating one of the largest diversified craft beverage platforms globally.”

He concluded: “Through this expanded platform, we see significant growth opportunity for BrewDog through broader distribution and the ability to invest back into brand and innovation, while introducing Tilray’s complementary beverage brands into international markets. On a combined basis, we expect Tilray’s diversified global business to reach c. $1.2 billion in annualised revenue.”