Reliance Consumer Products (RCP), a subsidiary of Reliance Retail Ventures (RRV), has announced that it will acquire a 50% stake in Sosyo Hajoori Beverages, a Gujarat-based company that owns the popular soft drink brand Soyso. The Hajoori family, the current owners of Sosyo Hajoori Beverages, will retain the remaining stake in the century-old company.
Sosyo Hajoori Beverages is a leading player in the domestic soft drinks market, with a portfolio that includes various beverage brands and over 100 flavors developed through its expertise in formulation. The Sosyo brand, which was established in 1923 by Abbas Abdulrahim Hajoori as part of the Swadeshi movement for Indian independence, has a loyal customer base in Gujarat.
The acquisition will allow RCP to further expand its portfolio in the beverage sector, leveraging Sosyo’s expertise in formulation to develop new products and offer a range of Indian consumer brands and products with superior value. RCP is also creating a retail distribution network for its consumer brands.
Also Read: Union Budget 2023: what should you anticipate
Isha Ambani, executive director of RRV, said in a statement, “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 the growth momentum of Sosyo.”
Abbas Hajoori, chairman of Sosyo Hajoori Beverages, added, “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.”
This joint venture will allow Reliance to further strengthen its portfolio in the beverage segment, following the acquisition of the iconic brand Campa. In addition, Sosyo’s expertise in formulation can be leveraged to develop unique value propositions for the product portfolio and consumers. RCP intends to offer a bouquet of Indian consumer brands and products with superior value, and its brand portfolio already includes Campa and packaged consumer products brand Independence.
