Sharp said he was “deeply sorry to everyone affected – particularly my colleagues who have lost their jobs and the shareholders who believed in what we were building” and described it as a “very difficult day”.
He added: “I’m immensely proud of everything our team achieved together, creating a distinctive Scottish beer brand enjoyed by customers at home and around the world.
“While this outcome is not what any of us hoped for, I’m glad the brand has found a home with C&C Group. We’ve worked closely with the team for many years and they have the scale, distribution and experience to take Innis & Gunn forward.”