CCEP Ventures, the investment arm of Coca-Cola European Partners, has acquired at an undisclosed sum a 25% stake in Chicago-based Innovative Tap Solutions (ITS) – the parent company of PourMyBeer, the market leader in Self-Pour and Self-PayDrink Dispensing.
The technology allows customers to pour and pay their own beverages suchas beer, wine, soft drinks and kombucha without further help from service personnel. This allows to cut down queues, reduce wait times and free up serving staff and will overall reduce costs and increase efficiencies for hospitality venues. It can be integrated in existing systems such as Toast, Micros, Aloha, Square, Untappd, Bottoms Up Beer and BeerBoard.
PourMyBeer was founded in 2012 by Josh Goodman and has in the meantime installed more than 7,000 taps across 270 locations in 24 countries located at bars, restaurants, casinos, hotels, grocery stores and office spaces.
CCEP Ventures plans to introduce the self-pour system to its customers in Western Europe with a trial in Spain.
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.”
“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,” said Josh Goodman, Founder & CEO of ITS. “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.”