Reliance Retail FMCG arm to acquire 50% stake in Sosyo Hajoori Beverages; details here

Reliance Consumer Products Ltd (RCPL) notified on 3 January 2023 that it is going to buy a 50 percent stake in Sosyo Hajoori Beverages Pvt Ltd. The fast-moving consumer goods (FMCG) arm of Reliance Retail Ventures and the beverage maker have now formed a joint venture (JV). Sosyo is presently led by Abbas Hajoori and his son Aliasgar Hajoori. The existing promoters, Hajoori family, will continue to own the remaining stake. The joint venture with RCPL is likely to boost the growth of Sosyo’s brands by leveraging Reliance’s know-how, distribution and retail network, as mentioned in a report by Moneycontrol. Abbas Hajoori 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.” He further stated that by combining their relative strength, they would make Sosyo’s unique tasting beverage products available to all Indian customers. The acquisition is going to allow RCPL to enhance its beverage portfolio. Reliance Retail Ventures had bought the domestic soft drink brand Campa from Delhi-based Pure Drinks Group in August last year. Reliance Retail Ventures’ executive director, Isha Ambani, said that the investment in Sosyo will help Reliance in their vision to empower local heritage brands and offer them new growth opportunities. She further stated that they welcome the “desi power” of Sosyo’s heritage beverage brands to their consumer brand portfolio. She added that the company was confident that their consumer insights, know-how, and retail distribution strengths are going to boost Sosyo’s growth momentum. Headquartered in Gujarat, Sosyo was founded in 1923 by Abbas Abdulrahim Hajoor. The company makes a number of juices and carbonated soft drinks (CSD). The 100-year-old firm has a loyal customer base in Gujarat. Some of the popular brands under its portfolio are Kashmira, Lemee, Ginlim, Sosyo, Runner, Opener, Hajoori Soda, and S’eau. According to the official website of Sosyo Hajoori Beverages, the firm is expanding its network to various nations. In its first attempt, it established a reputed name in the United Kingdom, Australia, Canada, and other countries with contract filling in the United States. Sosyo stated on its website that the franchise will set up plants very soon in the US, Canada, UK, Zambia, as well as other places. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.