Reliance Consumer Products Ltd (RCPL), the fast-moving consumer goods arm of Reliance Retail Ventures Ltd, announced a 50% equity stake in Gujarat-based Sosyo Hajoori Beverages, which owns and operates a beverage business under the flagship brand ‘Sosyo’. The remaining ownership in the 100-year-old soft drink manufacturer will remain with the current promoters, the Hajoori family.
Under the umbrella brand “Sosyo,” Sosyo Hajoori Beverages owns and runs a beverage company. In 1923, Abbas Abdulrahim Hajoori founded Sosyo. It is an ancient Indian brand with a 100-year history in juices and carbonated soft drinks (CSD). The 100-year-old business is a major force in the domestic soft drink industry.
Isha Ambani, executive director of Reliance Retail Ventures, said, 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.
According to Reliance Industries, RCPL aims to empower Indian consumers with a portfolio of indigenously developed consumer brands and products that provide superior value. The company’s current brand portfolio includes the iconic beverage brand ‘Campa,’ as well as the packaged consumer products brand ‘Independence,’ which was launched earlier this month. RCPL is also developing a distinct and dedicated retail distribution network for its rapidly expanding consumer brand portfolio.
Abbas Hajoori, Chairman of Sosyo Hajoori Beverages, said, Combining our relative strengths, we would make the unique tasting beverage products of Sosyo accessible to all the consumers in India. It is a defining moment in our near 100-year journey in beverages.
Also Read: The Weeknd’s ‘Blinding Lights’ Becomes Spotify’s Most Streamed Song
