A cooler for storing ice, water and food stuff defining an insulated compartment. Several beverage container holders are disposed around the housing and include connecting openings that allow the cold water in. These holders extend below the plane of the bottom wall in order to maximize the level of the water contained in the holder and thereby increasing the heat exchange area with the container. At least one container dispensing assembly is provided for stacking up the containers adjacent to the peripheral wall and allowing the containers to roll over the bottom wall and outwardly through an aperture on the lower end of the wall. The bottom wall includes a depression in the area below the aperture to cause the water to accumulate thereon and increase the heat exchange area with the container as it passes through. A convexity on the internal surface of the bottom wall prevents any water from collecting thereon.
