Reliance Consumer Products Ltd will pick up a 50% stake in Gujarat-based Sosyo Hajoori Beverages Pvt. Ltd, which owns and operates the Sosyo brand.
The company’s promoters, the Hajoori family, including Abbas Hajoori and his son Aliasgar, will continue to hold the remaining stake, said Reliance Retail Ventures n a statement on Tuesday. Reliance Consumer is the fast-moving consumer goods arm and a wholly owned subsidiary of Reliance Retail.
With this deal, Reliance will strengthen its beverages portfolio following the acquisition of beverage brand Campa.
In addition, Sosyo’s expertise in formulations can be leveraged to create unique value propositions for our product portfolio and consumers, the company said.
“This investment helps take forward our vision of empowering local heritage brands and presenting new growth opportunities. We welcome the desi power of century-old Sosyo’s heritage beverage brand 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," Isha Ambani, executive director, Reliance Retail Ventures, said.
The announcement follows Reliance Consumer’s decision to pick up a controlling stake in Lotus Chocolate Co. Ltd.
The company is creating a dedicated retail distribution network for its fast-expanding consumer brands portfolio which includes packaged consumer products brand Independence.
Sosyo Hajoori owns several brands, including Kashmira, Lemee, S’eau, Ginlim, Runner, Opener and Hajoori Soda. The firm’s flagship, Sosyo, is a 100-year legacy brand in carbonated soft drinks and juices.
It has a manufacturing plant in Gujarat and caters to consumers in Gujarat and neighbouring states through a network of franchises and distributors. It is present in the US, the UK, Canada and Australia. “Combining our strengths will make the unique tasting beverage products of Sosyo accessible to all Indian consumers," Hajoori said.
