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Scottish craft beer giant Brewdog could be sold off after bosses called in financial experts to look for new investors.
Consultants Alix Partners have been brought in to oversee the sales process which could lead to the businesses being broken up.
Brewdog, which was founded by friends James Watt and Martin Dickie in 2007, has breweries and pubs around the globe, including about 60 in the the UK.
The company said it had taken the decision after "operating in a challenging economic climate" in order to focus on the "long-term strength and sustainably" of the company.
A spokesperson for Brewdog said: "Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business.
"This is a deliberate and disciplined step with a focus on strengthening the long-term future of the Brewdog brand and its operations."
The spokesperson added they expect to attract "substantial interest" and breweries and bars will continue to operate as normal.
AlixPartners refused to comment on the sales process.
Last month, the company halted production of gin and vodka brands at its distillery in Elgin, Aberdeenshire, in order to "sharpen" the businesses focus.
Earlier in the year it announced the closure of 10 bars across the UK, including its flagship pub in Aberdeen.
The company currently employs around 1,400 people and has breweries in Ellon as well as in the US, Australia and Germany.
In recent years it has made headlines for its marketing campaigns and workplace culture.
In 2024, the firm faced a backlash after revealing it would no longer hire new staff on the real living wage, instead paying the lower legal minimum wage.
Watt later stood down as chief executive officer and moved to a newly-created position of "captain and co-founder".

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