Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL), will acquire 50 percent equity stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates a beverage business under the flagship brand Sosyo.
Hajoori family, who serve as the existing promoters will continue to own the remaining stake in the 100 year old beverage business. The company, which was established in 1923 by Abbas Abdulrahim Hajoori, owns and operates a beverage business under the flagship brand Sosyo. Sosyo, boasts a loyal customer base in Gujarat, is a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. Currently, the operations are looked after by Abbas Hajoori and his son Aliasgar Hajoori. The brands in the company’s portfolio include Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau.
Recently, Reliance Consumer Products also added beverage brand Campa and packaged consumer products brand Independence to its product portfolio.
Isha Ambani, executive director, Reliance Retail Ventures, 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 knowhow, consumer insights and retail distribution strengths will help accelerate the growth momentum of Sosyo.”
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. It is a defining moment in our near 100-year journey in beverages.”