A BBC documentary on the culture of BrewDog focused heavily on accusing co-founder James Watt of inappropriate behaviour around woman.
BBC Disclosures reporter Mark Daly
While much has been reported over the last year of the Punks with Purpose letter, highlighting grievances of former employees, there were new reports of incidents in the brewery’s US bars particularly.
Former employees alleged Watt would bring intoxicated women to his bars and entertain them on the rooftops. Former managers also reported warning female workers to dress down or avoid Watt when he was due to visit.
Watts’ lawyer told the BBC: “Mr Watt regularly takes both women and men, friends and customers on evening tours of the brewery. It is not true to say that those who accompany him are intoxicated.
“The claim that he did was made by an employee in June 2021. It was fully investigated. The claims were not substantiated. No further action was warranted by Brewdog USA HR.”
The programme also built upon the Punks with Purpose group’s claims of a bullying and mysogynistic culture in the UK.
Former employee Charlotte Cook said: “BrewDog had the most blokey and laddish atmosphere I’ve ever worked in. It can be quite aggressively sexualised as well. It was so engrained into what people were doing.”
And there was an in-depth look at the company’s finances, too, highlighting share issues which favour private equity investors over private investors in certain circumstances.
Financial revelations
The Disclosure programme also revealed that, since private equity firm TSG took a 24% stake of the company in 2017, James Watt had invested £2m in a hedge fund in the Cayman Islands and bought shares worth £500,000 in Heineken. Watt and co-founder Martin Dickie, rarely mentioned in the programme, received £100m each when TSG invested.
However, more Equity for Punks crowdfunding has taken place since the private equity boost.
Phil Halsey, a ‘Punk’ investor, had invested £3,500 in the company since 2011, on the basis that he wanted to support small, independent businesses.
He told Disclosure reporter Mark Daly: “Basically, they’ve got massive amounts of investment, taken some money out for themselves, and then asked people to put more money back in again. Why?”
At the end of the programme, BrewDog chairman, Allan Leighton, said he’d been provided with assurances by Watt that the allegations against him were not accurate and were based on rumour and misinformation.
He added: “James has committed to making improvements to his management style.”
Mark Daly signed off: “As BrewDog reaches a critical point in its expansion [it aims to open 30 new bars this year], there are questions over whether James Watt remains the right person to captain the ship.”
