To enhance its beverage portfolio Reliance Industries Ltd the fast-moving consumer goods arm – Reliance Consumer Products Ltd (RCPL) is going to acquire a 50 per cent stake in Gujarat-based carbonated soft drinks (CSD) and juices maker Sosyo Hajoori Beverages Pvt Ltd (SHBPL) for an unrevealed amount.
The Hajoori family, the existing promoters of the 100-year-old beverage maker, will continue to own the remaining stake in SHBPL.
With this joint venture, Reliance will further strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa and Sosyo’s expertise in formulations can be leveraged to develop unique value proposition for the product portfolio and consumers.
Established in 1923 by Abbas Abdulrahim Hajoori, the company is one of the leading players based out of Gujarat and operates its beverage business under the flagship brand ‘Sosyo’. SHBPL has a manufacturing plant in Gujarat. It has distribution spread across Gujarat and neighbouring states through its franchises and distributor network. It also caters to overseas markets through its exports to US, UK, Canada, Australia and others.
RRVL Executive Director Isha Ambani 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,” she added.
SHBPL Chairman Abbas Hajoori said, “We are delighted to enter into this partnership with RCPL, 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.