Reliance Consumer Products (RCPL), the FMCG division of Reliance Retail Ventures, will acquire a 50% investment in Gujarat-based Sosyo Hajoori Beverages (SHBPL). SHBPL owns and manages a beverage business under the brand name ‘Sosyo.’
The current promoters, a family named Hajoori, will continue to own all of the remaining SHBPL shares.
Sosyo is an Indian heritage brand with a history of roughly one hundred years in producing juices and carbonated soft drinks (CSD). Abbas Abdulrahim Hajoori established the business in 1923, and it has since grown to become one of the most successful competitors in the domestic soft drinks sector. Abbas Hajoori and his son Aliasgar Hajoori run SHBPL. Sosyo, Lemee, Kashmira, Ginlim, Runner, Opener, and Hajoori Soda are some of the beverage brands in its portfolio.
RCPL has stated that it will be launching its consumer packaged goods brand known as “Independence” in Gujarat, intending to eventually roll it out across the country as part of its larger goals in the FMCG industry.
Before it entered the fast-moving consumer goods sector, Reliance had already acquired the iconic soft drink brand, Campa. Reliance will broaden its selection of beverages as a result of this new endeavour and subsequent purchase. In addition, RCPL observed that Sosyo’s experience in formulations may be utilised to create a one-of-a-kind value proposition for the product line and consumers and that this may be accomplished with the assistance of Sosyo’s expertise.
Reports indicate that the corporation was reportedly discussing acquiring several other businesses, including Garden, Lahori Zeera, and Bindu Beverages.
According to the statement, RCPL is also working on establishing a unique and specialised retail distribution network to accommodate its fast-expanding portfolio of consumer brands.
The retail division of Reliance Industries is known as Reliance Retail Ventures. This division is responsible for the operation of over 16,500 own stores. It has over 2 million merchants in the following categories: food, electronics, fashion, pharmacy, lingerie, home and furnishings, beauty and personal care. In addition, it runs an omnichannel business network using Jio Mart, Ajio, Netmeds, Zivame, and several other online stores.
