Reliance Consumer Products (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures (RRVL), has announced it will acquire a 50% equity stake in Gujarat-headquartered Sosyo Hajoori Beverages (SHBPL), which owns and operates a beverage business under the flagship brand Sosyo. The existing promoters, the Hajoori family, will continue the remaining stake in SHBPL.
Sosyo is a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. Established in 1923 by Abbas Abdulrahim Hajoori, the company is one of the leading players in the domestic soft drinks market.
SHBPL, operated by Abbas Hajoori and his son Aliasgar Hajoori, has several beverage brands in its portfolio, including: Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S’eau, having launched over 100 flavors with its strong expertise in developing formulations. The Sosyo brand boasts a loyal customer base in Gujarat.
Speaking on the investment, Isha Ambani, executive director, Reliance Retail Venture, said, “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 know-how, consumer insights, and retail distribution strengths will help accelerate the growth momentum of Sosyo.”
RCPL aims to empower Indian consumers with a bouquet of indigenously developed consumer brands and products that offers superior value. The company’s brand portfolio currently includes the iconic beverage brand ‘Campa’ and packaged consumer products brand ‘Independence’ launched earlier this month. In addition, RCPL is creating a distinct and dedicated retail distribution network for its fast-expanding consumer brands portfolio.
Speaking on the joint venture with RCPL, 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 consumers in India. It is a defining moment in our nearly 100-year journey in beverages.”
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.