BrewDog co-founder James Watt faces ICO complaints over shareholder data use in buyback bid

The UK Information Commissioner's Office (ICO) is evaluating complaints against BrewDog co-founder James Watt after he contacted former shareholders in an effort to buy back the collapsed craft brewer, the BBC and The Guardian reported on 17–18 July 2026. The complaints allege that Watt used personal data without a lawful basis, raising potential breaches of the General Data Protection Regulation (GDPR).

Watt stepped down as BrewDog CEO in 2024 and sold the company's brand, intellectual property, UK breweries, and 11 bars to US cannabis and drinks firm Tilray in March 2026 for about £33 million. The deal followed a collapse that left the brewer with debts exceeding £500 million and rendered shares of roughly 200,000 crowdfunding investors worthless. On 15 July 2026, Watt announced a bid to repurchase the company through his new venture, Second Best, claiming support from 43,000 former investors.

Several former shareholders who received emails from Watt told The Guardian they did not understand how he obtained their contact details. Marc Knox, a former equity punk, said: "I got the email last Sunday and I kind of laughed. I wasn't thinking about complaining but I talked to a friend, looked online and saw there were lots of people saying the same thing: 'How has this joker got my details?'"

Watt denied any wrongdoing, stating: "A communication was sent to my fellow shareholders in BrewDog following legal advice, using lawfully obtained data, and in connection with their legitimate interests as shareholders." He did not explain how the contact details were obtained.

The ICO confirmed it is aware of the matter. "We are aware of an incident involving BrewDog and we are assessing the information provided," an ICO spokesperson said. The regulator can impose fines or compel changes in data practices if it finds a GDPR breach.

Tilray, which now operates the BrewDog brand, distanced itself from Watt's actions. A company spokesperson said Tilray "did not acquire Equity for Punks shareholder data as part of its acquisition of the BrewDog brand and assets; that records system remains under the control of BrewDog plc (in administration)." The spokesperson added that Tilray did not "authorise, facilitate, or participate in the communications reportedly sent to former Equity for Punks investors" and that no data held by Tilray had been shared with external entities or former directors.

Ravi Naik, legal director at data protection specialist AWO, said the case raises significant questions. "I can understand why the individuals have complained to the ICO," he said. "There seem to be questions to answer and the ICO should explain if they plan to take action on these complaints."

As of 18 July 2026, no formal regulatory decision had been announced, and Watt had not issued a public statement addressing the complaints beyond his initial denial. Tilray has stressed that the BrewDog brand is not for sale and plans to reject Watt's takeover efforts.