Reliance Consumer Products (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures, will acquire 50% stake in Gujarat-based Sosyo Hajoori Beverages (SHBPL), which owns and operates a beverage business under the flagship brand ‘Sosyo’, RCPL said in a press release.
The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
Sosyo is an Indian brand with around 100 years of legacy in carbonated soft drinks and juices. It has several beverage brands in its portfolio including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener and Hajoori Soda.
Speaking on the investment, Isha Ambani, executive director of RCPL said, “This investment helps us take forward our vision of empowering local heritage brands and presenting them with new growth opportunities.”
RCPL aims to empower Indian consumers with a bouquet of indigenously developed consumer brands and products which offers superior value, the company said.
Recently, RCPL also announced the launch of its consumer packaged goods brand ‘Independence’ in Gujarat, with plans for national rollout as part of its ambition in the FMCG segment.
Earlier, as part of its entry into the FMCG segment, Reliance had acquired home-grown soft drink brand Campa. With this joint venture, Reliance will further strengthen its portfolio in the beverage segment having already acquired brand Campa. In addition, Sosyo’s expertise in formulations can be leveraged to develop unique value proposition for the product portfolio and consumers, RCPL said.
According to some reports, it was also in talks to acquire Garden, Lahori Zeera and Bindu Beverages, among others.
In addition, RCPL is creating a distinct and dedicated retail distribution network for its fast-expanding consumer brands portfolio, it said.
Reliance Retail Ventures, the retail arm of Reliance Industries, operates more than 16,500 own stores and has over 2 million merchants across grocery, electronics, apparel, pharmacy, lingerie, home and furnishing, beauty and personal care. It also operates the network of omni-channel business through Jio Mart, Ajio, Netmeds, Zivame and other online channels.