Reliance Consumer Joint Venture: Reliance Consumer Products Limited (RCPL) is going to buy 50 per cent stake in Socio Hazuri Beverages Pvt Ltd (SHBPL), a Gujarat-based carbonated soft drinks (CSD) and juice maker.
What RRVL said about this acquisition
In a statement on Tuesday, Reliance Retail Ventures Ltd (RRVL) said the acquisition will “enable RCPL to enhance its beverages portfolio”. The Hazuri family, the current promoters of the 100-year-old beverages maker, will continue to hold the remaining stake in SHBPL. According to the statement, “With this joint venture, Reliance will further strengthen its portfolio in the beverages segment. Let us tell you that Reliance has already acquired the iconic brand Campa. Apart from this, to develop product portfolio and unique value offers for consumers.” Socio’s expertise in formulation can be leveraged for the same.” RCPL is an FMCG unit and a subsidiary of the country’s leading retail company Reliance Retail Ventures Limited (RRVL).
Learn about Socio
Established in the year 1923 by Abbas Abdulrahim Hazuri, the company operates its beverages business under the flagship brand ‘Sosyo’. Sosyo Hazuri is a 100 year old company which is the country’s leader in the business of Carbonated Soft Drinks (CSD) and juices and dominates the domestic soft drink market. Socio Hazuri Beverages Pvt Ltd is run by Abbas Hazuri and his son Alisagar Hazuri. They have many brands in their beverages portfolio like Sosyo, Kashmira, Lemmy, Ginlim, Runner, Opener, Hazuri Soda along with about 100 flavors.
what did isha ambani say
Talking about this investment, Isha Ambani, Executive Director of Reliance Retail Ventures Limited, said that this joint venture reflects our vision under which we are providing new opportunities for growth to the country’s established brands and local businesses. We are adding to our consumer brand portfolio the legacy of a 100 year old company, Sosyo, and are confident that the strength of our consumer base and retail distribution will provide new growth momentum to Sosyo.