As part of the investment, Coca-Cola will work together with Innovative Tap Solutions to introduce self-pour dispense technology to its customers in Western Europe
Coca-Cola acquires 25% stake in Innovative Tap Solutions. (Credit: Coca-Cola European Partners.)
Coca-Cola European Partners’ investment arm CCEP Ventures has acquired a 25% stake in US-based Innovative Tap Solutions (ITS) as part of its commitment to dispensed drink solutions.
ITS, doing business as PourMyBeer, has developed a technology that allows consumers to serve and pay for their beverages themselves and increase the efficiency of the hospitality sector.
The technology company is said to have more than 7,000 taps in service across 270 locations globally.
Branded Strategic Hospitality, a US-based investment and solutions platform, has also participated in the investment in ITS along with CCEP.
The ITS technology is said to reduce wait times, avoid the unnecessary contact between the employees and customers, and free up the way for serving staff.
As part of the investment, CCEP will work together with ITS to introduce the self-pour dispense technology to its customers in Western Europe.
The technology will enable restaurants, cafes, offices, stadiums and other venues to serve consumers quickly and reduce operating costs as well as touchpoints.
CCEP said that the investment represents a step closer for achieving its Action on Packaging goals, which was launched in 2017.
CCEP to trial new dispense technology in Spain
CCEP stated that it will introduce the new dispense technology to its customers in Western Europe, beginning with a trial in Spain.
CCEP chief financial officer Nik Jhangiani 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.
“TS 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.”
Earlier this month, CCEP has announced its commitment to eliminate the use of virgin oil-based plastic in PET bottles by transitioning to 100% recycled plastic (rPET) bottles in the Netherlands and Norway.