What is happening in the BrewDog sale process right now?

AlixPartners is taking early, indicative bids with options that include selling the brand, brewing sites, and bar estate separately. The company is responding to losses and tax pressure, so bidders may pair equity with new debt. A fast timetable suggests a price signal for craft beer assets could arrive within weeks rather than months.

Which companies are likely bidders and what would they want?

Potential buyers include Heineken, Asahi, AB InBev and Carlsberg. They may want brand IP for premium growth, brewing capacity to streamline supply, or the bar network to boost on-premise reach. Some could prefer selective assets to reduce integration risk and ease competition reviews while keeping capital spending tight.

How could the BrewDog sale affect beer M&A valuations in 2026?

If the transaction prices below prior craft expectations, sellers may face tougher negotiations and wider use of earn-outs. A break-up could also lift total proceeds versus a single buyer. Either way, the outcome should guide how strategics balance bolt-on deals against buybacks and how private capital structures financing at higher rates.

What are the key watchpoints for Australia?

Focus on distribution changes, pricing under excise indexation, and any shifts in local production at Brisbane. Retail ranging across supermarkets and large liquor chains will signal buyer intent on volume. For crowdfunded investors, deal structure matters, since break-ups, earn-outs, or vendor financing can influence both timing and total returns.

Global Market Insights

BrewDog Sale on February 16: Break-Up, PE Debt Put Beer M&A in Focus

ByHuzaifa Zahoor February 15, 2026February 15, 2026

The BrewDog sale is moving fast, with AlixPartners running a process that could include a break-up after a £37 million loss and rising tax pressure. For Australian investors, this matters. A reset in beer M&A could shape strategies for Heineken, AB InBev, Asahi and Carlsberg, and affect local distribution, pricing and jobs. We explain what a split might include, who could bid, how debt fits, and what it means for Australia-based operations and crowdfunding investors watching today’s headlines.