Mumbai : Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Limited. (RRVL), has announced that it will acquire 50% equity stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL), which owns and operates a beverage business under the flagship brand ‘Sosyo’. The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
Sosyo is a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices.
Established in 1923 by Mr. Abbas Abdulrahim Hajoori, the company is one of the leading players in the domestic soft drinks market. SHBPL, operated by Mr. Abbas Hajoori and his son Mr. Aliasgar Hajoori, has several beverage brands in its portfolio including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau having launched over 100 flavours with its strong expertise in developing formulations. The Sosyo brand boasts a loyal customer base in Gujarat.
“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 knowhow, consumer insights and retail distribution strengths will help accelerate the growth momentum of Sosyo” Isha Ambani, Executive Director, Reliance Retail Ventures Limited, said.