Reliance Consumer Products Limited forms Joint Venture with 100 year old beverage maker Sosyo Hajoori Beverages Private Limited
Reliance Consumer Products Limited forms Joint Venture with 100 year old beverage maker Sosyo Hajoori Beverages Private Limited
• Reliance Consumer Products Ltd (“RCPL”) will acquire 50% stake in Sosyo Hajoori Beverages Private Limited (“SHBPL”)
• Acquisition to enable RCPL to enhance its beverage portfolio
• SHBPL to accelerate growth of brands by leveraging Reliance’s knowhow, distribution and retail network
Mumbai, January 3, 2023: Reliance Consumer Products Limited (“RCPL”), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Limited. (“RRVL”), today announced 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.
Speaking on the investment, Ms Isha Ambani, Executive Director, Reliance Retail Ventures Limited, 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.”
RCPL aims to empower Indian consumers with a bouquet of indigenously developed consumer brands and products that offers superior value. The company’s brand portfolio currently includes iconic beverage brand ‘Campa’ and packaged consumer products brand ‘Independence’ launched earlier this month. In addition, RCPL is creating a distinct and dedicated retail distribution network for its fast-expanding consumer brands portfolio.
Speaking on the joint venture with RCPL, Mr Abbas Hajoori, Chairman, Sosyo Hajoori Beverages Private Limited, said, “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. It is a defining moment in our near 100-year journey in beverages.”
With this joint venture, Reliance will further strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa. In addition, Sosyo’s expertise in formulations can be leveraged to develop unique value proposition for the product portfolio and consumers.
About Reliance Retail Ventures Limited:
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Ltd and the holding company of all the retail businesses under the RIL group. RRVL, through its subsidiaries and affiliates, operates more than 16,500 own stores and partners with over 2 million merchants across Grocery, Electronics, Apparel, Pharmacy, lingerie, home and furnishing, beauty and personal care. It also operates the largest network of omni-channel business through Jio Mart, Ajio, Netmeds, Zivame and other online channels. RRVL’s FMCG subsidiary, Reliance Consumer Products Ltd shall provide a wide range of products under a versatile brand portfolio that serve the daily needs of millions of Indians.
RRVL reported a consolidated turnover of ₹ 199,704 crore ($ 26.3 billion) and net profit of ₹ 7,055 crore ($ 931 million) for the year ended March 31, 2022.
About Sosyo Hajoori Beverages Private Limited:
Sosyo Hajoori Beverages Private Limited is one of the leading beverage players based out of Gujarat and operates its beverage business under the flagship brand ‘Sosyo’- a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. SHBPL has a manufacturing plant in Gujarat and has distribution spread across Gujarat and neighbouring states through its franchises and distributor network. Further, it also caters to the overseas markets through its exports to USA, UK, Canada, Australia and others. The Sosyo brand boasts a loyal customer base in Gujarat through its warm patronage, consistent quality and frequent launches of varied flavours.
