- January 4, 2023 / 8 min readThe existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL.
Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Limited, announced it will acquire 50 per cent equity stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited (SHBPL) which owns and operates a beverage business under the flagship brand ‘Sosyo’.
The Hajoori family will continue to own the remaining shares of SHBPL, the beverage manufacturer's current promoters after 100 years.
With a history of about 100 years in juices and carbonated soft drinks (CSD), Sosyo is a renowned Indian brand. The business was founded in 1923 by Abbas Abdulrahim Hajoori and is currently a major force in the Iranian soft drink industry. Abbas Hajoori and his son Aliasgar Hajoori own SHBPL, a company that specialises in inventing formulas and has a number of beverage brands in its portfolio, including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S'eau.
The Sosyo brand boasts a loyal customer base in Gujarat.
Isha Ambani, Executive Director of Reliance Retail Ventures Limited, commented on the transaction: "This investment enables us move forward our mission of empowering regional heritage businesses and offering them new growth prospects. We are happy to add Sosyo's century-old legacy beverage brands to our portfolio of consumer brands and are convinced that our expertise, consumer insights, and retail distribution prowess will enable Sosyo's growing momentum pick up speed.
RCPL wants to provide Indian consumers more power by providing them with a variety of locally produced consumer brands and goods that are of superior quality. The historic beverage brand "Campa" and the recently created packaged consumer products brand "Independence" are currently included in the company's brand portfolio. Additionally, RCPL is developing a unique and focused retail distribution network for its portfolio of rapidly expanding consumer brands.
Abbas Hajoori, Chairman of Sosyo Hajoori Beverages Private Limited, commented on the joint venture with RCPL in a statement that reads in part, "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. By combining our relative advantages, we could make Sosyo's distinctive beverage goods available to all Indian consumers. It is a turning point in our nearly 100-year history in the beverage industry.
After purchasing the renowned brand Campa, Reliance will further bolster its beverage range with this joint venture. Additionally, Sosyo can create a distinctive value proposition for its product portfolio and customers by utilising its experience in formulations.
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