Coca-Cola European Partners takes 25% stake in dispense technology company ITS
Chicago-based ITS is behind PourMyBeer, a self-pour beverage system which already has more than 7,000 taps in service across 270 locations worldwide. Its technology allows consumers to pour and pay for drinks themselves: reducing unnecessary contacts and shortening queues.
From kombucha to cocktails
The ITS technology is used in hospitality venues such as restaurants, cafes, offices and stadiums. In the US its customers include Whole Foods, Buffalo Wild Wings, the U.S. Air Force and Caesars Entertainment.
CCEP Ventures – the investment arm of Coca-Cola European Partners – has taken a 25% stake in ITS. It will begin introducing the self-pour dispense technology to its customers in Western Europe with a trial in Spain.
The taps let consumers pour their own beverages such as beer, wine, cocktails, cold brew and kombucha: and pay by volume.
Coca-Cola says the partnership can also help it address packaging waste and lower its carbon footprint, as it looks to develop dispensing solutions for a number of different environments.
Nik Jhangiani, CFO 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.”
US investment and solutions platform Branded Strategic Hospitality also participated in the investment in ITS alongside CCEP.
Interest in reduced contact solutions has grown as a result of the coronavirus pandemic. This month Coca-Cola Amatil invested in New Zealand payment platform Centrapay, with the two companies already working together on cryptocurrency vending machines.
