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BrewDog’s ‘Equity for Punks’ fuelled its rapid rise – but may have contributed to its struggles

By Ross Brown, Professor in Entrepreneurship and Small Business Finance, University of St Andrews
Craft brewer and pub chain BrewDog recently closed some of its pubs in a push to cut operating costs. Given it is partly owned by private equity firm TSG Consumer Partners, the loss-making firm is likely to face further organisational upheaval. After all, private equity firms generally specialise in cutting costs and selling assets.

This downsizing is indicative of the widespread demise of the on-trade beer market (that is, venues that…The Conversation


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