Reliance Consumer Products (RCP), the FMCG arm of Reliance Retail Ventures (RRV), has announced that it will acquire a 50 percent stake in Gujarat-based Sosyo Hajoori Beverages, which owns the Sosyo soft drink brand.
The Hajoori family, who are the current promoters, will continue to own the remaining stake in the 100-year-old beverage company.
A product of the Swadeshi movement of the struggle for Indian independence, Sosyo was founded in 1923 by Abbas Abdul Rahim Hajoori. Sosyo Hajoori Beverages is a leading company in the domestic soft drink market. Run by Abbas Hajoori and his son Eliasgar Hajoori, it has several beverage brands in its portfolio, including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S'eau. He has launched more than 100 flavors with his vast experience in formulation development.
Gujarat has a committed customer base for the Sosyo brand.
Through this joint venture, Reliance will strengthen its portfolio in the beverage sector after it has already acquired the famous Campa brand. Additionally, Sosyo's expertise with formulations can be leveraged to develop unique value propositions for the product group and consumers," he said in the exchange presentation.
Isha Ambani, executive director of RRV in the statement stated, "We are happy to have partner beverage businesses join our portfolio of consumer brands with their century-old strength and are convinced that our expertise, consumer insights, and retail skills will assist accelerate growth.
RCP intends to offer a bouquet of high-value Indian consumer brands and products, she said in her presentation. She added that her portfolio of brands includes Campa and the consumer packaged goods brand Independence.
Additionally, RCP is building a retail distribution network for its portfolio of consumer brands.
Abbas Hajoori, President of Sosyo Hajoori Beverages, said: "We are delighted to be part of this partnership with Reliance Consumer Products, a strong and willing partner who can help Sosyo rapidly grow its reach. By combining our comparative strengths, we will make Sosyo unique- tasting beverage products more accessible to all consumers in India.
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