Sosyo’s existing promoters, the Hajoori family, will own the remaining stake (Representative image)
Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures, on January 3 announced it will acquire a 50 percent stake in the Gujarat-headquartered Sosyo Hajoori Beverages Pvt Ltd. The two companies have formed a joint venture, a statement issued to the press noted.
Sosyo, established in 1923 by Abbas Abdulrahim Hajoor, makes a number of carbonated soft drinks (CSD) and juices. The 100-year-old firm has a loyal customer base in Gujarat, and some of the popular brands under its portfolio are Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S’eau.
The company is currently led by Abbas Hajoori and his son Aliasgar Hajoori. As per the press release, the existing promoters – Hajoori family – will continue to own the remaining stake.
The JV with RCPL is expected to accelerate the growth of Sosyo’s brands by leveraging Reliance’s know-how, distribution and retail network.
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“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,” Abbas Hajoori said.
The acquisition will also help RCPL to enhance its beverage portfolio. In August, Reliance Retail Ventures had acquired domestic soft drink brand Campa from Delhi-based Pure Drinks Group.
The investment in Sosyo “helps us take forward our vision of empowering local heritage brands and presenting them with new growth opportunities”, Reliance Retail Ventures executive director Isha Ambani said.
“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,” she added.
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