Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures (RRV), will acquire a 50 per cent stake in Sosyo Hajoori Beverages Company (SHBPL) which owns and operates a beverage business under the flagship brand ‘Sosyo’. The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
Sosyo is an Indian beverage brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. It was established in 1923 by Abbas Abdulrahim Hajoori, the company is one of the leading players in the domestic soft drinks market.
The company is led by Aliasgar and Abbas Hajoori and offers a number of beverage brands in its portfolio. It includes Kashmira, Ginlim, Lemee, Runner, Hajoori Soda, Opener, and S'eau. With its strong expertise in creating formulas, the company has introduced more than 100 flavours.
“This investment helps us take forward our vision of empowering local heritage brands and presenting them with new growth opportunities. We welcome the desi power of 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,” said Isha Ambani, executive director, Reliance Retail Ventures Limited.
RCPL aims to empower Indian consumers with a range of domestically developed brands. The company currently has the beverage brand "Campa" and the recently developed packaged consumer products brand "Independence" in its brand portfolio. For its rapidly expanding portfolio of consumer goods, RCPL is developing a distinctive and focused retail distribution network.
“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,” said Abbas Hajoori, Chairman, Sosyo Hajoori Beverages.
Last week Reliance announced that it would invest Rs 74 crore in the Lotus Chocolate Co. promoters for a 51 per cent stake in the company and make an open offer to the public shareholders for an additional 26 per cent stake.
