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BrewDog to give 50% of bar profits to workers as founder James Watt hands over millions of shares

The near-£100m share award will be worth around £30,000 a year over four years

(Photo by Jeff J Mitchell/Getty Images)(Image: Getty Images)

Shares worth about £120,000 are to be handed to 750 BrewDog staff over the next four years as the company launches its first ever profit sharing scheme for all of its bar workers.

In an attempt to move on from a rift with disgruntled former employees, founder and chief executive James Watt has announced he will hand over nearly a fifth of his stake in the craft beer firm, representing 3.7 million shares or a 5% shareholding in BrewDog, to salaried employees to mark the group's 15-year anniversary.

The near-£100m share award will be worth around £30,000 a year over four years, the PA news agency reported, to each eligible employee, based on the most recent fundraising, which valued BrewDog at around £1.8bn.

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It will see its salaried staff - such as wholesale and manufacturing staff, as well as bar and kitchen managers - and so-called equity punk crowdfunding investors own 25%, and the majority of the firm, between them.

Mr Watt's stake will reduce from 24.2% to 19.2% after awarding the shares, which will initially be held in an employee benefit trust.

In a first for the hospitality sector, the Scottish brewer is also launching a profit sharing scheme, allowing its 1,500 hourly-paid bar staff to share half of the earnings from each bar, unveiled as part of a wider growth plan laid out by the group.

Brewdog co-founder and chief executive James Watt

BrewDog, which is headquartered in Ellon, Aberdeenshire, said that based on last year's numbers, this would pay out an extra £3,000 to £5,000 to each bar worker's salary.