Abstract: A dispensing apparatus for flowable products, comprising a replaceable container with an externally threaded neck portion, a dispensing device comprising a pump housing and a valve chamber with two valves arranged in succession in the direction of flow of the product, and a sleeve arranged to be fitted over the container neck portion so as to allow air to penetrate into the container interior along the neck threads, whereby the partial vacuum which generates above the product level inside the container during discharge of the product may be levelled out while at the same time the sealing-off against the environment is sufficient to prevent drying out of the product.