Reliance Consumer Products Limited said it will acquire 50% equity stake in Gujarat-headquartered beverages firm Sosyo Hajoori Beverages (SHBPL).
The 100-year-old company is one of the leading players in the domestic soft drinks market and has a strong presence in Gujarat with brands such Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau. The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
“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,” said Isha Ambani, executive director, Reliance Retail Ventures Limited.
The FMCG arm of Reliance Industries said it plans to empower Indian consumers with a bouquet of indigenously developed consumer brands and products that offers superior value. The company’s brand portfolio includes beverage brand Campa and packaged consumer products brand ‘Independence’ launched earlier this month.
“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,” said Abbas Hajoori, Chairman, SHBPL.
Last week, Reliance announced it would buy a 51% stake in Lotus Chocolate Co from its promoters for Rs74 crore and make an open offer to the public shareholders to acquire another 26% in the company.
