Reliance Consumer Products (RCP), the FMCG segment of Reliance Retail Ventures (RRV), recently announced that it would buy a 50% stake in Sosyo Hajoori Beverages, based in Gujarat and the owner of the Sosyo soft drink brand.
The remainder of the 100-year-old beverage company will remain in the hands of the Hajoori family, the current promoters.
Abbas Abdulrahim Hajoori founded Sosyo in 1923 due to the Swadeshi movement during the struggle for Indian independence. Leading the domestic soft drink market is Sosyo Hajoori Beverages. Abbas Hajoori and his son Aliasgar Hajoori run the business, which carries several beverage brands such as Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S’eau. Its strong expertise in formulating products has introduced more than 100 flavours.
Gujarat has a committed customer base for the Sosyo brand.
“Having already acquired the renowned brand Campa, Reliance will further bolster its beverage segment portfolio with this joint venture. Additionally, according to a stock exchange filing, Sosyo’s formulation expertise can be used to create distinctive value propositions for the company’s product portfolio and customers.
According to Isha Ambani, executive director of RRV, “we welcome the desi power of the 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 Sosyo’s growth momentum.”
According to the filing, RCP intends to offer a diverse range of Indian consumer brands and products at a competitive price. It also mentioned Campa and the packaged consumer products, Independence, in its brand portfolio.
RCP is also developing a retail distribution network for its consumer brands portfolio.
“We are delighted to enter into this partnership with Reliance Consumer Products, a strong and willing partner that can help Sosyo speedily scale up its reach,” said Abbas Hajoori, chairman of Sosyo Hajoori Beverages. We would make Sosyo’s unique tasting beverage products available to all Indian consumers by combining our relative strengths.”
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