Sosyo | Reliance Reliance Retail acquires 50 pc stake in Gujarat-based Sosyo Hajoori Beverages
MumbaiIBNS: Reliance Consumer Products (RCP), the FMCG arm of Reliance Retail Ventures (RRV), Tuesday said that it will acquire a 50 percent stake in Gujarat-based Sosyo Hajoori Beverages, the owner of soft drink brand Sosyo.
The 100-year-old beverage company is owned by Hajoori family, who will retain the remaining 50 percent stake in the company.
Sosyo was established in 1923 by Abbas Abdulrahim Hajoori during the Swadeshi movement.
The company is one of the leading players in the domestic soft drinks market.
Operated by Abbas Hajoori and his son Aliasgar Hajoori, Sosyo Hajoori Beverages 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 boasts 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,” Reliance Retail said in a stock exchange filing.
Speaking on the investment, Isha Ambani, executive director, RRV, 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 present a bouquet of indigenously developed consumer brands and products that offers superior value.
The company’s brand portfolio currently includes iconic beverage brand ‘Campa’ and packaged consumer products brand ‘Independence’ launched earlier this month.
In addition, the company wants to leverage Sosyo’s expertise in formulations to develop a unique value proposition for its product portfolio.
Further, RCPL is creating a distinct and dedicated retail distribution network for its fast-expanding 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.”
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