Brewer and pubs chain BrewDog has sold its highlands estate where it had planned to plant a million trees as part of a huge rewilding project.
Natural capital asset manager Oxygen Conservation, chaired by former banker Benny Higgins, has taken over the 10,000 acre holding, partly in the Cairngorms National Park.
The estate boasts grouse moor, salmon and trout fishing and is adjacent to land owned by Danish billionaire Anders Holch Povlsen.
BrewDog’s co-founders James Watt and Martin Dickie bought the land near Aviemore for £8.8 million in 2020 claiming its “Lost Forest” project would enable the company to become “carbon negative”.
It later emerged that half of the 500,000 saplings planted in 2023 had died because of the hot weather and new trees had to be planted.
The Aberdeenshire company’s chief operating officer, Lauren Carrol said: “Since we became custodians of this magical slice of the Scottish Highlands, we have worked with partners to restore 745 hectares of peatland and planted over 375 hectares of new woodland.
“We’re proud of all that has been achieved and of the legacy we leave, but the time is right to hand over the reins to an organisation that specialises in protecting and investing in natural capital.”
BrewDog’s new management team has been reviewing its operations and assets and recently shut a number of pubs as it aims for a return to profitability.
Oxygen Conservation’s acquisition of the Kinrara Estate takes it beyond 50,000 acres under management across the UK.
Rich Stockdale, chief executive, described BrewDog’s Lost Forest as “one of Scotland’s most ambitious woodland creation projects”.
He added: “They took on a complex, challenging landscape and delivered it to a high standard.
“We hope to take it into its next chapter whilst continuing the ambitious woodland creation and peatland restoration projects already planned.”
Mr Higgins added: “The acquisition of Kinrara Estate is another important milestone in our Oxygen Conservation journey.”
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