Industry News: An Update from PicoBrew – new owners, out of receivership

PicoBrew Zymatic Pictured: The PicoBrew Zymatic via Adventures in Homebrewing

From PicoBrew:

To our valued brewing community and customers,

We recognize we have left you with a lot of questions and uncertainty about our future over the past weeks.  We’d like to start by giving like you an update of what we know today in our evolving journey and sincerely thank you for your patience.

PicoBrew’s mission over the past 10 years has been to revolutionize the homebrewing and beverage space. We wouldn’t be anything without customers and loyal fans like yourself.  Our main focus has always been about allowing our users to create high quality, customized beverages with precision, ease and repeatability.

Over the past two years, our primary source of funding for operations came from a private lending group who shared in our passion and believed in keeping the lights on for our customers.  Unfortunately, PicoBrew was unable to overcome its past debts and our current structure made additional investment unsustainable for the long term without significant changes.

On February 7th, 2020 PicoBrew entered into a Washington State Receivership which officially concluded on May 8th, 2020.  Up until this point we were unable to comment publicly.  The goal of this process was to find PicoBrew a new home within a company that would continue caring for our customers and build upon our mission.  With the ongoing pandemic adding layers of complexity, our plans have and will continue to evolve.

With receivership in our rear-view mirror, we would like to announce that PicoBrew is now owned by the same lending group who has been responsible for supporting us and you over these past two years.  While there is still much work to be done, efforts to find the right home are still underway.  Conversations are ongoing with those interested in all or parts of the company, but nothing has been concluded.

What does this mean for you?

While we don’t have all the answers quite yet, on a day-to-day basis you can expect our servers to remain online for the foreseeable future. This means you can continue using your devices and our services as normal.  We are unable to guarantee this indefinitely, but contingencies are being evaluated.  All options of how to resume online orders are being explored with an emphasis on providing an expanded collection of self-service parts, but so far, we do not have a solution.  We hope to share additional details over the coming days in the form of an FAQ.

What does this mean for us? 

Our story isn’t over.  A core team remains at PicoBrew working on our options.  Inevitably, we will continue to adapt in an effort to find a final home.  What that looks like today, we honestly can’t answer.  Everyone here, including our new owner group still believes in our customers and our products.  We believe in seeing our mission continue and that a viable business still remains with the right partnership.

We’ll be in touch soon with additional updates.

– The PicoBrew Team

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