Coca-Cola European Partners funds dispensed delivery innovation with investment in self-pour, self-pay drink dispense technology leaders Innovative Tap Solutions
September 2020: Press Release – For Immediate Release
CCEP Ventures, the investment arm of Coca-Cola European Partners, has acquired a 25% stake in ITS – the creators of technology that enables consumers to pour their own beverages and increase efficiencies for the hospitality industry. Branded Strategic Hospitality, an investment & solutions platform headquartered in New York City, also participated in the investment in ITS alongside CCEP.
The investment will see CCEP work with ITS to introduce self-pour dispense technology to CCEP’s customers in Western Europe, beginning with a trial in Spain. ITS’s technology allows consumers to pour and pay for drinks themselves – cutting down queues, reducing the need for unnecessary contact and wait times and freeing up serving staff.
The partnership also represents a further step forward for CCEP’s Action on Packaging strategy, launched in 2017. CCEP is committed to investing and innovating in refillable and dispensed delivery models to eliminate packaging waste and lower its carbon footprint. CCEP is looking at developing suitable dispensed solution for different environments, and the partnership with ITS is a key part of this.
This agreement forms part of the wider CCEP Ventures programme – which aims to find, fund and nurture new technology and innovation.
Nik Jhangiani, Chief Financial Officer at CCEP, said: “We are committed to supporting package-free technology and finding new ways to help our customers increase value and provide a better experience to consumers. ITS is an exciting and ambitious business. We are confident we can help them expand successfully into the soft drinks category and grow their presence in Western Europe.”
Josh Goodman, Founder & CEO of ITS, commented on the partnership: “We’re excited to take this Self Pour Revolution to the next level with CCEP. Less than 5 years ago, our company was just me and one other person and our focus was just self-pour taprooms dispensing beer, wine and cocktails through our technology.
The market has spoken, customers and business owners love the concept, the efficiency and experience. We’re a liquid-agnostic company that wants to grow in the non-alcoholic space. Our partnership with CCEP ensures that we can continue investing in our technology to scale with the increasing demand.”
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CCEP Ventures is Coca-Cola European Partners' innovation investment fund, providing early-stage funding to start-ups with ideas that solve a problem or create an opportunity for the business.
We find, invest in and support entrepreneurs and start-ups whose innovations have the potential to drive growth in our business through collaboration and partnership and that align with our areas of development including transforming the customer experience, creating new distribution models, designing the packaging of the future and developing more intelligent systems for pricing and data management.
The investments we make through CCEP Ventures are part of our ongoing commitment to ensuring that, as technology and consumer behaviors change, people can continue to access the drinks they love in the way that they choose.
PourMyBeer’s self-pour technology enables faster, more efficient access to beverages by allowing consumers to pour their own beer, wine, cocktails, cold brew, and kombucha, and pay by the ounce. PourMyBeer is the world leader of self-pour, serving customers such as Whole Foods, Buffalo Wild Wings, the U.S. Air Force, Caesars Entertainment, Walk-Ons and many more. PourMyBeer has over 5,861 taps in service at bars, restaurants, casinos, hotels and grocery stores around the world.
For more information on ITS, please visit: