Coca-Cola European Partners (CCEP) has acquired a 25 per cent stake in self-pour, self-pay drink dispense technology leaders Innovative Tap Solutions (ITS).
Trading as PourMyBeer, Chicago-based ITS is a leading provider of self-pour beverage system with over 7,000 taps in service across 270 locations globally.
The investment, made through the investment arm CCEP Ventures, will see the Coca-Cola bottler working with ITS to introduce self-pour dispense technology to its customers in Western Europe. CCEP will trial the technology in Spain.
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 and chief executive of ITS, added: “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.”
CCEP said the investment is also a key part of its Action on Packaging strategy, which has seen the company committing to invest and innovate in refillable and dispensed delivery models to eliminate packaging waste and lower its carbon footprint.
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