Abstract: An improved multi-layer wrap for keeping a beverage container cool is made by first forming a jacket assembly having inner and outer pockets. An insulating blanket is inserted into the outer pocket of the jacket assembly through an entrance opening thereto. A first part of a hook and pile fastener is then secured to the outer pocket covering the entrance opening to completely and permanently enclose the insulating blanket in the outer pocket. The other part of the fastener is secured to the other end of the jacket assembly on the other face to allow the ends to be connected together after the wrap is placed around the container. The inner pocket has an open end for removably receiving a blanket containing a heat absorbing material.