James Watt, the former CEO and co-founder of BrewDog, has launched a new drinks venture called Fool's Fix. The product is designed to combat the effects of hangovers and is being offered with an equity stake for the first 20,000 customers. This initiative extends to former BrewDog "Equity Punks" as well.
Fool's Fix contains electrolytes, vitamins, minerals, and prickly pear, intended to aid recovery after excessive alcohol consumption. Watt stated that he consumes the drink himself after drinking, having been involved in the production of billions of beer cans during his 17 years at BrewDog, which concluded for him in 2024.
Under the new scheme, the initial 20,000 customers who purchase Fool's Fix and register online will receive 100 shares in the company for free. This means that the first 20,000 customers will collectively own 10% of Fool's Fix. To claim these shares, customers must buy the drink, register, and have their application verified. Upon approval, they will be designated as a "Founding Fool," receiving registered shareholder status, a lifetime discount, a "Founding Fool" number, and a digital card.
Additionally, every former BrewDog Equity Punk can claim an equivalent stake in Fool's Fix to the one they previously held in BrewDog, also at no cost. Watt noted that this allows former Equity Punks to hold ownership in his new beer business, "Second Best," and Fool's Fix.
The launch of Fool's Fix follows the administration of BrewDog in March of the current year, which resulted in the acquisition of certain assets by US firm Tilray for £33 million. This administration led to the closure of 38 bars and the loss of 484 jobs. Investors in BrewDog's "Equity for Punks" scheme, which had raised an estimated £75 million before closing to new investors in 2021, did not receive any return on their investment.
Watt has also implemented a money-back guarantee for Fool's Fix. Customers who try the drink and do not feel better the following morning are eligible for a full refund. He expressed confidence in the product's efficacy, stating that over a year was spent developing the formula with ingredients chosen to support hydration and bodily function. He acknowledged individual differences in response and explained the guarantee as a testament to the company's confidence.
Watt stepped down as BrewDog's chief executive in 2024, moving to a role as "captain and co-founder." His co-founder, Martin Dickie, left the company in 2025. Both had previously sold shares to US private equity fund TSG in 2017, reportedly making £50 million each. After leaving his operational role at BrewDog, Watt launched "Second Best," a beer brand that offered nearly 20% of its shares to those who lost money through BrewDog's "Equity for Punks" scheme.
Recently, Watt made an offer to buy back BrewDog after its sale to a US cannabis firm. He confirmed that a formal offer to repurchase the brand from Tilray had been submitted.