Coca-Cola European Partners’ investment arm CCEP Ventures has acquired a 25% stake in Innovative Tap Solutions (ITS), which makes dispensed drink solutions and is doing business as (dba) PourMyBeer.

ITS’ technology allows consumers to dispense their beverages and increase efficiencies for the hospitality industry.

Currently, the company’s self-pour beverage systems with 7,000 taps are deployed at more than 270 locations globally.

The company claims that its systems are installed at restaurants, cafes, offices, stadiums and other venues to serve consumers quicker, reduce operating costs and touchpoints.

ITS founder and CEO Josh Goodman: “We’re excited to take this Self Pour Revolution to the next level with CCEP. Less than five 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.”

With this acquisition, CCEP intends to work with ITS to launch self-pour dispense technology across its customers in Western Europe, beginning with a trial in Spain.

The investment is part of the CCEP Ventures programme that focuses on funding and nurturing new technology and innovation.

Additionally, the deal is expected to support CCEP’s Action on Packaging strategy launched by the company in 2017.

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.”