- Reliance Consumer Products Limited forms Joint Venture with 100 year old beverage maker Sosyo Hajoori Beverages Private Limited
- Acquisition to enable RCPL to enhance its beverage portfolio
- SHBPL to accelerate growth of brands by leveraging Reliance’s knowhow, distribution and retail network
NE BUSINESS BUREAU
MUMBAI, JAN 3
Reliance Consumer Products Limited (RPCL), the FMCG arm of Reliance retail Ventures Limited (RRVL), on Tuesday announced it will acquire 50 percent stake in 100 year old Gujarat-based Sosyo Hajoori Beverages, which owns and operates beverage business under the flagship brand ‘Sosyo’.
The Hajoori family, who are the existing promoters, will continue to own the remaining stake in the 100-year-old beverage company.
A product of the Swadeshi movement of the Indian independence struggle, Sosyo was established in 1923 by Abbas Abdulrahim Hajoori. Sosyo Hajoori Beverages is a leading player in the domestic soft drinks market. Operated by Abbas Hajoori and his son Aliasgar Hajoori, it has several beverage brands in its portfolio including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau. It has launched over 100 flavours with its strong expertise in developing formulations.
The Sosyo brand has a loyal customer base in Gujarat.
“With this joint venture, Reliance will further strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa. In addition, Sosyo’s expertise in formulations can be leveraged to develop unique value propositions for the product portfolio and consumers,” it said in a release.
Commenting on this, Isha Ambani, executive director, RRV said in the release, “We welcome the desi power of the century-old Sosyo’s heritage beverage brands to our consumer brand portfolio and are confident that our knowhow, consumer insights and retail distribution strengths will help accelerate the growth momentum of Sosyo.”
RCP intends to offer a bouquet of Indian consumer brands and products with superior value, it said in its filing. It added that its brand portfolio includes Campa and packaged consumer products brand Independence.
In addition, RCP is creating a retail distribution network for its consumer brands portfolio.
Abbas Hajoori, chairman, Sosyo Hajoori Beverages, said, “We are delighted to enter into this partnership with Reliance Consumer Products, a strong and willing partner that can help Sosyo rapidly scale up its reach. Combining our relative strengths, we would make the unique tasting beverage products of Sosyo accessible to all the consumers in India.”
