New Delhi: Industrialist Mukesh Ambani-led Reliance Industries has made a new addition to its beverage portfolio. Months after acquiring the Campa brand, the conglomerate has announced to acquire 50 per cent of Sosyo Hajoori Beverages. The remaining stake will be with the existing promoters – Hajoori family.
Reliance Consumer Products Limited on Monday it will acquire 50 per cent equity stake in the Gujarat-headquartered beverages firm. “This investment helps us take forward our vision of empowering local heritage brands and presenting them with new growth opportunities,” said Isha Ambani, executive director, Reliance Retail Ventures Limited.Ambani exuded confidence that our knowhow, consumer insights and retail distribution strengths will help accelerate the growth momentum of the 100-year-old company Sosyo. The beverage firm is one of the leading players in the domestic soft drinks market with a firm presence in Gujarat.
“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.
The brand portfolio of FMCG arm of Reliance Industries includes beverage brand Campa and packaged consumer products brand ‘Independence’ launched earlier this month. Reliance purchased Campa from New Delhi-based Pure Drinks Group for an estimated amount of Rs 22 crore in September last year.
Campa Cola was created by Delhi-based Pure Drinks Group, which was originally founded as a bottler and distributor of Coca-Cola. With the vacuum created by Coca-Cola, Campa seized the opportunity and branded itself with the slogan – “The Great Indian Taste”.
Meanwhile, before Sosyo, Reliance last week announced that it would pick up a majority stake in Lotus Chocolate Co from its promoters. Reliance Consumer Products Ltd said it will purchase 51 per cent stake in the chocolate company for Rs 74 crore and will launch an open offer to buy another 26 per cent.
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