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Business News/ Companies / News/  Reliance Retail FMCG arm to acquire 50% stake in Sosyo Hajoori Beverages
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Reliance Retail FMCG arm to acquire 50% stake in Sosyo Hajoori Beverages

The FMCG arm, Reliance Consumer Products Limited, will acquire 50 per cent stake in Sosyo Hajoori Beverages

With this, Reliance Retail aims to strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa (Reuters)Premium
With this, Reliance Retail aims to strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa (Reuters)

Reliance Retail Ventures Ltd's subsidiary on Tuesday said that it will acquire 50 per cent stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited.

The FMCG arm, Reliance Consumer Products Limited, is the wholly owned subsidiary of Reliance Retail Ventures Limited has acquired stake in the Sosyo Hajoori Beverages Pvt Ltd which operated a beverage business under the brand ‘Sosyo’.

The existing promoters, Hajoori family, will continue to own the remaining stake in Sosyo Hajoori Beverages Pvt Ltd (SHBPL).

SHBPL, operated by Abbas Hajoori and Aliasgar Hajoori, has several beverage brands in its portfolio including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda and S’eau.

The joint venture with RCPL is expected to accelerate the growth of Sosyo's brands by leveraging Reliance’s know-how, distribution and retail network.

"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 centuryold 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.

"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. It is a defining moment in our near 100-year journey in beverages," said Abbas Hajoori, Chairman, Sosyo Hajoori Beverages.

With this, Reliance Retail aims to strengthen its portfolio in the beverage segment having already acquired the iconic brand Campa.

Reliance Retail reported a consolidated turnover of 199,704 crore and net profit of 7,055 crore for the year ended March 31, 2022.

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Published: 03 Jan 2023, 11:00 PM IST
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