A drink supply canister for a beverage dispensing apparatus. The drink supply canister includes a removable valve assembly member having a drink supply outlet valve and a gas inlet valve. The beverage dispensing apparatus pressurizes the drink supply canister by supplying gas to the gas inlet valve. The beverage dispensing apparatus includes a drink supply canister holder for holding a plurality of such drink supply canisters. The beverage dispensing apparatus directs a supply of water and gas to the drink supply canister holder for producing carbonated and non-carbonated beverages.