Tilray, the US cannabis manufacturer that bought BrewDog earlier in the year, has urged drinkers to give the brand a “second chance” and announced a £50 million investment in its pubs, beers and working conditions, CityAM has reported.

Speaking at an event in BrewDog’s flagship bar in Waterloo, London, Tilray’s chief executive Irwin Simon announced a refresh of the company following its collapse earlier in the year and subsequent £33 million sale.

Simon blamed “negative” media reports and persistent fears the company would shut down for the “horrible” sales figures during the brand’s transition. BrewDog’s sales are still lower than this time last year, Simon said, but have increased steadily since its acquisition.

The brand reset will include the launch of 11 new beers and be accompanied by a new multi-million-pound marketing campaign, titled Choose Craft, set to go live 5 October.

The refresh also includes new executive, including Josh Beasley as chief marketing director, Gemma Hampton-Stone as managing director of bars and hospitality, Ridesh Sharma as category director and Faisal Khan as commercial director for beverages and rest of the world.

Tilray bought BrewDog in March after it fell into administration. The deal included its intellectual property, global brand and UK brewing operations, as well as 11 of its bars in the UK and Ireland. The remaining 38 bars were closed with immediate effect.

In addition, some 200,000 crowdfunders who bought into the brand’s ‘Equity for Punks’ fundraising model were unable to recoup their investment.

Cofounder and previous BrewDog executive James Watt, who was accused of fostering a toxic work culture at the business in 2021, said in July that he intended to launch a bid to retake the brand and return equity to those who lost out.

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