Reliance Consumer Products Limited, the FMCG division and wholly-owned subsidiary of Reliance Retail Ventures Limited, made an announcement. It stated today that it would purchase a 50% equity investment in Sosyo Hajoori Beverages Private Limited.
The beverage company has its headquarters in Gujarat and owns and runs a beverage business under the flagship brand “Sosyo.” The remaining ownership interest in SHBPL will remain with the current promoters, the Hajoori family.
With a history of about 100 years in juices and carbonated soft drinks (CSD), Sosyo is a renowned Indian brand. The business was founded in 1923 by Mr. Abbas Abdulrahim Hajoori. Although it is currently one of the market’s top suppliers of domestic soft drinks.
In addition to Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S’eau, SHBPL, run by Mr. Abbas Hajoori and his son Mr. Aliasgar Hajoori. It has several beverage brands in its portfolio. It has launched over 100 flavors thanks to its outstanding formulation development skills. Gujarat is home to a committed customer base for the Sosyo brand.
The executive director of Reliance Retail Ventures Limited, Ms. Isha Ambani, commented on the transaction: “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.”
Reliance will strengthen its beverage business with this joint venture
RCPL wants to provide Indian consumers more power. They want to provide them with a variety of locally produced consumer brands and goods that are of superior quality. The historic beverage brand “Campa” and the recently created packaged consumer products brand “Independence” are currently included in the company’s brand portfolio. Additionally, RCPL is developing a unique and focused retail distribution network for its rapidly expanding consumer brands portfolio.
Mr. Abbas Hajoori the Chairman of Sosyo Hajoori Beverages Private Limited. He commented on the joint venture with RCPL in the following manner. He 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.”
After purchasing the renowned brand Campa, Reliance will further bolster its beverage range with this joint venture. Additionally, Sosyo can create a distinctive value proposition for its product portfolio and customers by utilizing its experience in formulations.
